Purchase-to-Pay & Inventory

Powerful analytics to keep you on top of your recipes, purchasing, inventory and your suppliers.

You need intelligent reporting instantly on purchase-to-pay, recipes and menus. Imagine the benefits if you could analyse your data any way you like, any time.

FAP2P

 

 

The Challenges

  • You know what you’re spending and you know what you’re making – but you don’t understand how they are linked.
  • You rely too much on ‘gut feel’ to decide which are your most profitable dishes and best suppliers.
  • Too many processes are left untouched, when they could be the source of significant savings or revenue.
  • Data is trapped in diverse departments, making it hard for the business to take a holistic view and effective action.

Key Benefits

  • See how well the business is really doing using the demand forecasting and sales mix features.
  • Understand the true effectiveness of your procurement process and where compliance and efficiency can be improved.
  • Easily see which recipes are your best performers and which aren’t profitable.
  • Analyse the quality of your inventory management.
  • See your best suppliers and those that need improvement with the supplier balanced scorecard.
  • Relevant teams receive automated reports and updates, enabling them to take immediate action.
  • Data is freed from silos, transformed into intelligence and put into the hands of the operation.
  • Decisions can now be made based on the latest facts and one version of the truth.

Features

Purchase-to-Pay

The Problem
Understanding and acting on the patterns in your purchase-to-pay data is the dream. The reality is often the opposite, with so many streams of data that it’s almost impossible to get the real story.

Our Solution
Fourth Analytics’ dashboards show you everything you need to know. Automated reporting enables you to benchmark all vendors on delivery and pricing compliance. Now you can negotiate better prices and streamline your supplier base.

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1. See at a glance the variance in sales vs. cost of purchase
2. And drill down to see detail on each product and ever supplier
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1. See your suppliers’ performance at a glance
2. See stock ordered vs. deliveries
3. See which suppliers are the best – and the worst – at getting it right

Inventory

The Problem

Whether you have five outlets or 500, managing inventory is hard. Measuring cost before it’s spent, identifying causes of waste, avoiding over-ordering and excess stockholding, and reducing theft can be time-consuming, labour-intensive and sometimes impossible.

Our Solution
Fourth’s inventory control software and interactive analytics dashboards work together to show who's accountable across all stock, including non-food and non-beverage items. Inventory check results are analysed to spot trends. Smart charts highlight discrepancies between actual and theoretical. Excess stockholdings are eliminated and waste is typically reduced by 1-3% through full accountability.

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1. Highlights opening to closing inventory: how optimal is the stock movement?
2. Days of stock on hand clearly shows stock efficiency

Want to find out more? Contact Us

Editions

Choose one of four Editions of our purchase-to-pay and Inventory solution, depending on how much control you want.

fIND OUT MORE ABOUT EDITIONS

Purchase-to-Pay and Inventory blog posts for you

Hospitality Reporting: the importance of hindsight

Written by: Andrew Levey

Looking back can be a painful experience as there are always things you could have changed or could have done differently. But hindsight can also arm you for the future – showing what you should do more of and highlighting things you can do differently.

Are you ready to be transformed?

Written by: Andrew Levey

Smart operators are having revolutionary conversations with their technology suppliers. Instead of buying single clever products, they are asking them to help transform their business.
Fourth gives me two things: economically sound information for decision making around menu development and pricing, and consolidated results for my operation as often as I want them at the touch of a button. It provides information we never had before and I can see at a glance which are problem products and where the wastage is - at company level, at regional level and by brand. I absolutely love it.

John Bradshaw Head of Commercial

Specs

All you need to run Fourth’s products is a device with an internet browser. Yup, that’s it.