Embrace Consistent Growth With Oracle NetSuite for Restaurants & Hospitality

By 2024, foodies will spend whopping $4.3 trillion on their favorite food at their favorite restaurants, or order them online and have it at the comfort of their home.

At the same time, the food services industry is facing a host of big problems, which are stopping them from unleashing full-fledged growth. Customer acquisition, customer satisfaction, food wastage (1.3 billion tonnes of food is wasted, every year) are some of the pressing problems faced by restaurants and the hospitality industry in general.

How can one ensure consistent growth in this challenging industry, wherein competition is increasing at a rapid pace, and where innovation is knocking the door every new season?

The answer lies with Oracle NetSuite, the world’s one of the most powerful and robust ERP and CRM platform, which provides solutions to most of the problems faced by restaurants and the hospitality industry.

This is how Oracle NetSuite can help restaurants to trigger consistent growth..

Financial Management Streamlined, Optimised

The backbone of any business is a strong, and robust financial management process, and it is no different from restaurants and hotels. In fact, for the hospitality industry, the cash flow becomes even more important to manage, since additional expenses can incur anytime, and often without any warning.

NetSuite perfectly understands this niche requirement of restaurants and hotels, and this is the reason financial management is streamlined and optimized. One single snapshot of data will reveal the exact cash in hand, the amount receivable and payable, which translates to quick business decisions.

The management can now have real-time insights into budgeting, expense allocations and amortization, besides seamless integration with your banking system, for one unified financial management process for the entire organization.

Inventory Management Redefined

Any restaurant’s most pressing problem is maintaining a fine balance between demand and supply. Imagine the consequences, if the city’s most famous chicken joint runs out of chicken on a Sunday evening, or the restaurant promising the most finest Oriental cuisine is forced to serve 2-day old fish, because they have them in surplus?

Using NetSuite, the restaurant will be able to know exactly which food item is required, at which point of time, and then manage the inventory accordingly, so that neither the food is wasted, nor they are in short supply when needed.

The entire process of inventory management can be automated, and optimized, using Oracle NetSuite.

Handling Multiple Locations Becomes Easy

NetSuite is a 100% Cloud-based business management suite, which supports multiple currencies, multiple languages, and multiple taxation protocols, for delivering seamless business operation.

In case your business is spread across multiple nations and continents, then NetSuite will help you to streamline operations, and optimize them for maximum ROI. The management can have a quick overview of the finances across multiple locations, automate tax reporting process and optimally manage employees across all the locations, without any hassle.

To know more on the full potential and power of NetSuite, and to deploy it for your restaurant and hospitality business, you can contact Inspirria, and allow our NetSuite Consultants to take it forward in the most efficient way.

Contact us right here.