Compeat Restaurant Software Review

Apr 252011

A few people who have visited the website have asked for a review on Compeat’s restaurant software. This tells me that Compeat’s marketing team is doing a good job. Intrigued by the number of people who asked for a review, I set off to see what all the hype was about. It didn’t take long to see why people are pretty excited about this restaurant management software. It offers an Enterprise Resource Planning ERP (more on this in a second), centralized system approach that is becoming more and more popular amongst businesses of all types.

What’s All The Fuss About?

So why are people so excited? Are they being swept away by a great looking website or is there actually something to the Compeat software buzz? There is good reason to be excited, but to understand why you need to understand how restaurants have dealt with technology in the past. In the past a restaurant would have several different pieces of technology to manage the different areas of the restaurant—most of the time these technologies did not communicate with each other at all. For example, a restaurant would have POS software for taking orders, accounting software for managing the accounting, and restaurant management software to manage food prices and inventory.

Historical View of Restaurant Software

In the beginning restaurant owners were just happy to have technology and you can’t blame them. However, they soon found that they had to transfer all the information from their POS system to their accounting and management systems. This allowed for a lot of data-transfer errors and wasted transfer time (often information had to be replicated in each system).

The idea behind enterprise resource planning is that you have one centralized technological system that manages everything. This is exactly what Compeat’s software does for restaurants.

Compeat Restaurant Software Review

There are some obvious advantages to this type of setup. One large advantage is that you don’t have to buy three different restaurant software packages. You should just be able to purchase the Compeat system and be set. Another advantage is that you no longer have to worry about the flow of information throughout your restaurant. Information should flow seamlessly because it is all housed under one roof. You don’t have to worry about data replication errors because the data does not need to be replicated to be transferred. One last advantage is that the system is more secure. It is more secure because it is easier to safeguard one system than three!

There are some general disadvantages to ERP systems that may or may not apply to Compeat. (1) This type of system requires more customization up front. You have to fit the software to your entire company, not just one area of the company. (2)This type of software tends to be a bit more expensive. (3) Switching over from your old systems to one, new system can be a lot of work.

Pricing Information

Compeat does not list pricing information for their individual products. Companies that offer customizable software tend not to list their pricing because the price varies depending on the client needs.

Target Market

Compeat targets small business restaurant owners and large chains. Some large companies like Buffalo Wild Wings and Dave & Buster’s use this software. It works well for independent restaurant owners too.

Odds and Ends

  • Compeat’s main product is called Compeat Advantage. They also have a commissary product, a payroll product, and a  mobile phone product.
  • The software can be used online. This means you can access your information anywhere you have the Internet
  • Compeat offers a service to help install the software at your restaurant and train your employees on how to use it.

Overall the Compeat restaurant software seems like an excellent package. The cost to convert over may be high, but the benefits you will gain from a centralized, overarching solution will likely be worth it.

For more information please visit http://www.compeat.com/.

 

Review of EZChef Software

Nov 112010

This product is brought to you by RRG (The Restaurant Resource Group). These are the same people that provide the excellent QuickBooks Restaurant Accounting Software guide. The idea behind this restaurant software is to save managers time when performing their accounting and managerial tasks. The truth is that most restaurant managers are starting to see the benefits from tracking inventory, costs, and sales very closely. If information about these items is organized, managers can use it to make smarter decisions for their restaurants.

EZChef helps with inventory management. You can enter your inventory into the software and it will help you keep track of everything. This program is based off of Microsoft Excel. Some accountants frown upon the use of spreadsheets because of their lack of controls. However, this program has some serious functionality that would be helpful for restaurant managers. Here’s a quick look at an inventory worksheet.

As a restaurant manager, it can be a nightmare to track the costs of all of the different items on the menu (especially without a good restaurant accounting software package). Some managers don’t do a good job of this and they end up paying for it later. In order to turn a profit with your restaurant you need to accurately monitor the cost of your ingredients. The EZChef software has a pretty good tool for doing this.

There are two ways to keep track of your menu costs with this software. (1) You create recipes and sub recipes. A sub recipe is exactly what it sounds like. It isn’t a complete recipe, but it is a mixture of a few ingredients that are used in many of your different menu items. You then manually enter the price in for the ingredients that make up the sub recipes. Now anytime you enter in a new recipe (using the sub recipes) into EZChef, the software will automatically show you the cost of that recipe or menu item. If the price of an ingredient changes, simply manually update the ingredient prices and the costs of each of your menu items will also be updated.

A Look at the EZ Chef Pricing Spreadsheet

The (2) second method is quite intriguing to say the least. If your restaurant’s ingredients are changing on a daily basis, it can be a huge hassle to keep changing the price of ingredients. Some managers have decided that they simply won’t update the prices because it is too time consuming. These managers are probably promoting menu items don’t have as big of a gross margin as they think. In our opinion, the single best feature of EZChef software is that it can automatically update the prices of your ingredients as often as you want. Once the prices are updated on the ingredients, the software automatically updates the cost of each of your items on the menu. A restaurant manager armed with this information will know which menu items to push. This could lead to drastic gains for some restaurants.

This automatic updater only works with certain food distributors: Sysco, Ben E. Keith, U.S. Foodservice, and Gordon Food Service. The software can interact with these distributors. When they update their prices, all you have to do is click a button and your ingredient prices and menu costs will also be updated. Pretty nifty in our opinion. Note that there are many different types of restaurant software.

The price of this software is $189 for the standard version. The standard version is the one that you have to update manually. The standard version will probably be a good choice for companies whose ingredients don’t change prices that often. The automatic update version costs $249. This might be a good investment for those restaurant managers who want to add another tool to their arsenal.

The EZChef software isn’t a complete restaurant accounting software package. However, it is a great tool for managing inventory and pricing. The automatic update feature may just make it one of the best restaurant management software packages available.

Advantages and Disadvantages (In review)

Advantages

  • Great for managing inventory
  • Great for keeping track of menu costs
  • Automatic update feature provides incredible information

Disadvantages

  • Excel Based (may have control weaknesses)
  • Not necessarily a restaurant accounting software package. In our opinion this tool does not replace the need for accounting software (for reporting and tax purposes). This is a tool that can help you make smarter decisions.

Would I use it in my restaurant? If I already had an accounting software package, then yes. This tool could give you information that would make your restaurant much more profitable. It would be nice to see this software interact smoothly with other popular accounting software packages. They already wrote the book on QuickBooks for restaurants so why not?

Overview of Restaurant Operators Complete Guide to QuickBooks

Nov 102010

The first thing you should notice about this post is that it is means to be an “overview” and not a “review.” It is really hard to give reviews on a manual for restaurant accounting software. Some people may have the stamina to read through pages of jargon and instructions, but I do not (unless of course I’m using the manual to actually perform the tasks that the manual is meant for). For those of you who have experience using this manual as a guide, please chime in at the bottom with your opinions.

Restaurant Operators Complete Guide to Quickbooks

Restaurant Operators Complete Guide to Quickbooks

This book is produced by RRGConsulting. The RRG stands for Restaurant Resource Group. This company has been around since 1999. It is presided over by John Nessel who has been in the cooking industry for quite some time. Needless to say this book is provided by someone with experience.

The price of the book is $79 if you want the electronic copy. You’ll have to shell out more if you want the hardback. Note that if you haven’t bought the accounting software from QuickBooks you’ll still need to do that as well. The price of QuickBooks really depends on the size of your company. Most restaurants will probably be spending around $300 for it.

Contents: Here’s a quick link to look at the Table of Contents of the Book: http://rrgconsulting.com/toc.htm
Probably the best thing about his package is that it comes with a file that will help you set up your QuickBooks software automatically. This file is specifically designed for restaurants. The whole idea behind this book and behind this file is to get your restaurant accounting software working as soon as possible. Those of you who have experience trying to set up an accounting system can attest to the fact that it isn’t easy to set one up without experience and help.

The bottom line is that many restaurant owners and entrepreneurs don’t know the first thing about accounting, business, and the different types of restaurant software. They are experts when it comes to setting up a good environment and providing good food, but they have no idea how to manage business operations. This book comes with advice on how to install a restaurant accounting system. It also comes with advice on how to manage a restaurant. For example it has some key operating ratios that are useful for restaurant managers. The bottom line is that accounting can save your restaurant money and this book can help restaurant owners set up one of the most popular accounting systems in the world. You can read more about this book at RRG: http://rrgconsulting.com/page/RRG/PROD/OP-MAN/QB-GUIDE


Restaurant Accounting Software

Apr 302010

So we have to write about a lot of different accounting items here at ClockWork, but I have to admit that today I’m pretty excited about the topic. I have two great passions in life (1) Accounting and (2) eating. So you can imagine my excitement when I received the topic of accounting software for restaurants.

The Basics

Restaurants need to keep track of information just like any other business. Some specific accounting software tailored for restaurants can be very helpful. However, keep in mind that a basic QuickBooks package or even Excel could be used to track the information. Buying a tailored package hopefully means that you’ll be able to keep track of information in a more effective and efficient manner.

Some Things to Look for in Restaurant Accounting Software

Compatibility with your point of sale (POS) system. You’ve invested all this time and money in getting POS software and hardware for your restaurant. Now it’s time to make sure it all pays off by keeping all of this information in your accounting records.

There may be some custom POS systems out there that come completely integrated with accounting software. However, it is more likely that you’ll have to buy the two systems separate (a major bummer in our opinion). Make sure to ask when you are buying your software if it is compatible with your specific POS system.

Recommendations/Options:

Below are some of the different restaurant accounting software packages available. Note that you could probably separate these into a couple different categories. For example some of the software listed below is restaurant management software. This type of restaurant software is geared toward providing you information that will make your company more profitable (like menu costing and gross margins). It is less focused on the necessary reporting and tax functions. If you are looking for software for reporting and tax functions then stick with basic accounting software packages like QuickBooks and Peachtree.

I hate to always recommend big names and would love to talk about some other great POS systems if readers have other suggestions, but as it is I will have to recommend the classics: Microsoft and QuickBooks. Microsoft has a system that will automatically enter all transactions into either a Microsoft accounting package or QuickBooks. This covers a large majority of medium sized restaurants and will be a good option for a lot of people.

Note that one major weakness of the QuickBooks POS system that many restaurant owners are mentioning is that it is too complicated for the restaurant staff to operate. This may have been updated in more recent editions, but we feel it is something worth mentioning.

Other Restaurant Software Options

Providing accounting software for restaurants is a relatively small industry. We have tried doing our homework and have found a few places that claim to offer this software:

TRRAP.Com Restaurant Software : This may have been one of the first places you came to visit when looking for software for your restaurant. In this case, we have to agree with the name (it is a trap). The webpage looks like it was made in the late 1990’s and though the prices offered are very good, this looks like nothing more than some pre-designed excel spreadsheets. If you’re looking for some spreadsheets, this may not be a bad option for you, but chances are you could develop some spreadsheets that would fit your company better. Not our first choice. P.S. We did some more digging around and it turns out the webpage hasn’t been updated since 2006. We’re not sure they are still in business (steer clear).

Restaurant Operators Complete Guide to QuickBooks by John Nessel – We realize that this isn’t actually software, but it is a book that tells you how to use QuickBooks for your restaurant accounting. We believe that for a lot of people, this will be your best option. Not only are there tons of people who know how to use QuickBooks, but they have a special version within premier that is designed for retailers and should work nicely for restaurants. Did we mention John Nessel has been working in the restaurant industry for 25 years? The guy knows what he is doing.

EZ Chef Software – This is a great tool for managing a restaurant. However we are concerned about its ability to provide the necessary accounting reports that investors and bankers may want. This is another glorified excel spreadsheet program that tracks your menu costing, inventory, and will help you perform in-house profitability analysis. However, we’re not sure if a banker would look at these reports and feel confident in giving you a loan. Great restaurant management software, but may be a little weak on the accounting side.

Food Service Solutions – These guys seem to be saying all of the right things. They claim to be able to install a system that will allow you to track inventory and other costs and help prevent shrinkage. They don’t mention prices on their website, probably because they will custom design the software depending on the size of your company. This may mean that they are a little pricier. One thing that turned us off a little was the extremely long sales page; you know the spammy looking ones that keep telling you how good their product is and then try and make the sale at the bottom of the page?

Compeat Restaurant Software – This is a complete end-to-end restaurant software package. It has your accounting technology and your POS technology all wrapped up in one bundle. The idea to create a comprehensive restaurant software package is unique. You can read my review by clicking on the link above.

See another restaurant accounting software package that should be on this list? Please let us know by commenting below. In addition, if there was some piece of information that you felt was left out that would have helped please let us know by posting in the comment box.

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