As the restaurant industry faces another challenging year, many operators are feeling the pressure to streamline operations and cut costs. Operators are slightly less optimistic about profitability, with only 27 percent of operators expecting to be more profitable this year, according to the National Restaurant Association 2024 State of the Restaurant Industry Report. Additionally, average food costs have increased more than 20 percent and average wages more than 30 percent from 2019—both impacting profitability. In this challenging environment, adopting innovative solutions like Loomis SafePoint can provide a significant edge.
“Companies that invest in making their businesses better, smarter, and more efficient during downtimes will yield much more benefit when economic factors improve,” says Lenny Evansek, senior vice president of national retail business development at Loomis. By focusing on improving operational efficiencies now, restaurants can better position themselves for future growth.
One of the primary ways SafePoint helps restaurants is by eliminating the time spent on managing low-value tasks. “SafePoint eliminates the time spent on activities such as creating a daily deposit, counting cash multiple times per day, and driving to a banking center to make the deposit,” Evansek says.
Automating these processes with SafePoint allows restaurant staff to reallocate time to more meaningful activities like serving customers, preparing food, and managing inventory. This can lead to labor savings and improved overall efficiency.
SafePoint also offers a comprehensive solution for cash management that simplifies and standardizes processes across all restaurant locations. “SafePoint drives cash handling compliance and consistency across all restaurants, in any market, or state,” Evansek notes. The system uses smart safes to electronically register, verify, and store cash until it is picked up by Loomis. This means restaurants no longer need to make trips to the bank and can receive daily credit from a financial institution for cash stored in the safe.
Benefits extend beyond just saving time. The consistent user interface across all SafePoint platforms ensures that all staff can use the system effectively, regardless of the restaurant’s size. Data from the smart safes provides valuable insights into cash handling practices, allowing corporate offices to monitor compliance and identify any issues that need corrective action.
Security is another major concern for restaurant operators, and SafePoint addresses this by enhancing cash handling security. “SafePoint electronically registers cash inserted into the safe, eliminating the possibility of employees mis-counting cash,” Evansek says. Reducing the amount of exposed cash in the store reduces overall shrinkage. Once the cash is in the safe, it is protected by Loomis against third-party theft and loss. Additionally, Loomis Direct, the company’s online reporting portal, allows loss prevention teams to remotely audit store usage and investigate any suspected internal theft.
The ability to deposit cash without leaving the store and receive overnight bank credit offers significant operational benefits. “It reduces the time spent out of the store making the roundtrip to the bank, reduces the possibility of an employee being robbed or getting into an automobile accident, and eliminates the need to pay employees mileage for bank trips,” Evansek says.
SafePoint also provides restaurant operators with real-time access to cash data and device usage through Loomis Direct. This online reporting portal can be accessed 24/7 from any computer or mobile device, offering various dashboard and multi-layer reporting functions. For larger restaurant operators, Loomis can share data using an API platform, allowing information to be uploaded into third-party software programs.
With the restaurant industry currently navigating economic challenges, investing in solutions like Loomis SafePoint can help operators streamline operations, reduce costs, and enhance security. Locking in on operational efficiencies now can help restaurants better position themselves for future growth and success.
To learn more, visit the Loomis website.
