Time is Money
How quickly [after the end of a reporting period] a restaurant's financial statements are prepared, matters. The faster the financial statements get into the hands of restaurant owners and managers, the sooner operational problems or shortcomings can be identified and action can be taken.
When operators wait one week, two weeks or more to see their numbers, the less relevant and valuable they are in managing their restaurant - by the numbers.
With Andado's help the back office is automated to bring down the time it takes to get the financials. The secret sauce is our Accounts Payables Workflow; we bring together all data and documents, tie into the POS and bring the entire information together quickly. Most operators get the financials not later than 3 days into their hands. Reporting includes a weekly prime cost report. (Prime cost is a performance indicator. It represents the sum of cost of goods and variable payroll) When it comes to taking action as a problem has been identified - time is money.