Revolutionizing Restaurant Finances: The Power of Real-Time Data and Efficient Accounting

In the fast-paced restaurant industry, success hinges on making the right decisions, and access to accurate, real-time data is paramount. Accounting firm partnerships are revolutionizing how restaurants manage their finances, and one company is leading the way.

Restaurant365, a SaaS company, offers an all-in-one accounting, store operations, and workforce solution for restaurants. Their cloud-based platform streamlines operations and accelerates reporting, providing restaurant operators with the tools they need to thrive in a competitive market.

“While technology has advanced in many industries, the restaurant industry has always lagged behind,” explains Philip Gay, a partner at Paperchase, a global accounting firm specializing in restaurant finances. “Restaurants are still stuck using outdated methods. Some establishments rely on software like QuickBooks, while others have financial data scribbled on the back of a napkin.”

Recognizing the need for more efficient solutions, Paperchase turned to Restaurant365. They found that the platform offered a more streamlined experience for their larger franchise clients, reducing manual entry and data-crunching. This efficiency allowed Paperchase to deliver faster financial insights, close books quicker, and spend more time providing valuable counsel to their clients.

With Restaurant365’s seamless integration of processes, financial metrics can now be delivered in near-real-time. Previously, it could take weeks to gather this information. “Now, you can understand what’s happening within 24 hours,” says Gay. “Because we can run reports faster, we spend less time on macros and more time analyzing data.”

The partnership between Paperchase and Restaurant365 has proven particularly beneficial for multi-unit operators like Subway. As Subway expanded, it recognized the need for robust accounting solutions and integrated Restaurant365 into their system. The combined power of Paperchase’s expertise and Restaurant365’s capabilities has proven invaluable during Subway’s transition.

The impact of this partnership goes beyond Subway. Paperchase’s diverse array of clients across the US have seen tangible benefits. In a case study provided by Restaurant365, clients saved on labor costs, lowered accounting fees, and even tripled their location counts while lowering expenses.

Real-time data and efficient accounting are transforming the way restaurant finances are managed. By providing restaurant operators with the tools they need to make informed decisions, reduce costs, and achieve growth, Restaurant365 is reshaping the future of the industry.

To learn more about how your restaurant can streamline its accounting process, visit the Restaurant365 website. For expert accountants who can power your system, visit the Paperchase website.

An FAQ section based on the main topics and information presented in the article:
1. What is Restaurant365?
Restaurant365 is a SaaS (Software-as-a-Service) company that offers an all-in-one accounting, store operations, and workforce solution for restaurants.

2. How does Restaurant365 streamline operations?
Restaurant365’s cloud-based platform streamlines operations by providing real-time data, automating manual entry and data-crunching, and delivering financial metrics in near-real-time.

3. What are the benefits of using Restaurant365?
Using Restaurant365 can help restaurant operators make informed decisions, reduce costs, and achieve growth. It can also save on labor costs, lower accounting fees, and increase location counts while lowering expenses.

4. How has Restaurant365 helped Paperchase?
Paperchase, a global accounting firm specializing in restaurant finances, found that Restaurant365 offered a more streamlined experience for their larger franchise clients. It allowed them to deliver financial insights faster, close books quicker, and spend more time providing valuable counsel to their clients.

5. What is the impact of the partnership between Paperchase and Restaurant365?
The partnership between Paperchase and Restaurant365 has proven beneficial for multi-unit operators like Subway. It has also benefited Paperchase’s diverse array of clients across the US, leading to savings on labor costs, lower accounting fees, and increased location counts while lowering expenses.

Definitions for key terms or jargon used within the article:
– SaaS: Software-as-a-Service, a software delivery model where software is licensed on a subscription basis and accessed via the internet.
– Cloud-based: Referring to software or platforms that are hosted and accessed remotely over the internet instead of being installed on local servers or devices.
– Financial metrics: Quantitative measures used to assess the financial performance of a business, such as revenue, profit, or expenses.
– Macros: In the context of the article, macros refer to automated tasks or functions that can be used to perform repetitive actions on data or reports.

Suggested related links:
Restaurant365 website
Paperchase website