Sponsored by Restaurant365
Managing financial operations is a complex task, particularly when manual processes and fragmented systems slow down efficiency. Dan Gross, former McDonald’s operations executive and director of client experience at Abacus Accounting Services, realized the need for a more integrated solution to help streamline financial reporting, data integration, and labor management. After evaluating various options, Abacus chose to implement Restaurant365. In the few months since adoption, he is already seeing improvements.
Before integrating Restaurant365, Abacus faced time-consuming and error-prone processes. “Entering transactions like AP and bank deposits was much more manual, which naturally led to more opportunities for human error,” Gross says. “It wasn’t as user-friendly as Restaurant365.” These manual processes often delayed financial reporting and made it difficult for managers to access the real-time data needed to make timely decisions.
The need for a real-time reporting solution became clear, and Restaurant365 delivered just that. “What attracted me to Restaurant365 was the ability to integrate our daily sales and labor reports directly from the restaurants,” Gross says. Instead of waiting for preliminary profit and loss (P&L) statements at the end of the month, Abacus now enjoys access to daily, up-to-date financial data. This has transformed how franchisees manage their operations.“Our clients are now able to see real-time reports, allowing them to make adjustments and correct any issues immediately, rather than waiting for month-end,” Gross adds.
One of the standout features that has greatly benefited Abacus is the platform’s drill-down capabilities, which provide detailed insights into each line item. “Restaurant365 allows managers to click into a report and see the actual invoice behind every expense,” says Gross.
The functionality not only reduces the chance of error but also simplifies the reconciliation process. For example, instead of backtracking several weeks to remember specific transactions, managers can now verify invoices in real-time.
The integration with national vendors is another feature that has streamlined operations for Abacus. “Some of our vendors pull data automatically into Restaurant365, eliminating the need for manual input,” Gross says. This seamless integration has helped ensure greater accuracy in reporting and saved significant time for the Abacus team. “It’s not a one-size-fits-all product,” Gross says. “You can customize reports based on your specific business needs, whether it’s sales data, labor costs, or any other key operational metrics.”
The mobile-friendly interface has also been a game-changer. Managers can access the platform on both desktop and mobile devices, making it easier to keep track of operations whether they’re in the office or on the go. “The ability to use the platform on a mobile device is incredibly convenient,” Gross says.
As Abacus continues to implement Restaurant365 across its client base, Gross is confident that the software will continue to deliver value. “The drill-down features, the vendor integration, and the real-time reporting have all been very beneficial,” he says. “It’s made things easier for both us and our clients.”
For more information on how Restaurant365 can help streamline your restaurant operations, visit the Restaurant365 website.
By Drew Filipski