Calculate and track costs

Do you know the price of ingredients and the profit margin for every item on your menu? Being able to calculate and track costs is essential as you select and refine recipes that are popular with customers and drive profit for your business.

Common challenges for restaurants

Every recipe has a cost, which can fluctuate with the market price of ingredients. Other factors, such as inventory control, wastage and stock movements can also change the dynamics of how much dishes are costing and the prices you set. It’s important to find a way to manage all the moving parts in real-time, so you can sustain margins.

Clear signs that calculating and tracking costs is a challenge

Do any of these issues sound familiar?

  • Inaccurate dish pricing:
    Does your menu pricing keep up with recipe costs? Month by month, do you know which items are the most profitable – and which need a price rethink?
  • Unforeseen variations in ingredients costs:
    Are sudden changes significantly impacting your margins?
  • Operational blind spots:
    Do you always have the right level of inventory, at the right price, and in the right condition?
    The good news is that Syrve’s cost management tools can streamline calculations and tracking, ensuring precision, cost control and operational efficiency.

How to calculate and track costs

Syrve’s technology enhances key functions that make a difference.

Inventory checks: Overseeing efficiency in real-time

Being able to calculate and track costs starts with your inventory stage – and knowing your data is trustworthy.

With Syrve, you can streamline the inventory management process, optimise how ingredients are used and reduce waste. The app guides staff through inventory checks on mobile devices, automates item identification and ensures that no steps are skipped. In the event of variances, the system prompts a recount before submission. Real-time updates, including cost figures, empower you to keep track of inventory levels, minimise waste and optimise ingredient use.

Cost analysis: Making tweaks can save you money

Knowing the cost of each component is fundamental for estimating dish costs accurately and ensuring that your menu is appropriately priced. This becomes especially critical for menu items with tighter profit margins, where even small changes in ingredient costs can hit your bottom line.

Syrve’s cost analysis features deliver precision. Going beyond mere estimates, Syrve incorporates even the slightest variations in ingredient costs to guarantee that your pricing remains meticulous. When optimising your menu, Syrve’s data analytics interpret the intricacies of each dish’s cost, offering detailed insights. The result? You can identify opportunities for improving ingredient use, consider cost-effective substitutions, and ultimately lower overall food costs without compromising quality.

Additionally, Syrve provides real-time metrics on your mobile device – allowing you to monitor actual versus theoretical costs. You can then track changes and make informed decisions on ingredient costs and pricing comparisons across various locations.

Stock movements: Streamlining transfers and tracking in real-time

Knowing where and when stock transfers happen is crucial for real-time tracking and maintaining accurate stock levels.

Syrve simplifies stock movements and provides a smooth and convenient way to log stock transfers, with real-time tracking to keep you updated. It automates payment transactions for internal transfers, maintaining accurate records. For transfers between locations under different legal entities, Syrve prompts the recipient to settle a purchase invoice, ensuring transparency and accuracy in stock movements.

Navigating the impact of at-risk ingredients

Understanding the potential risks associated with ingredients is a proactive measure that can safeguard your kitchen operations.

Syrve’s risk assessment tools offer real-time metrics across your menu. The system notifies you of exposure levels for every ingredient, enabling you to deal with the impact of at-risk ingredients swiftly. Whether it’s a sourcing challenge or a cost escalation, Syrve enables you to navigate potential risks and maintain an efficient kitchen operation.

Ingredient price changes: Creating a ‘single version of the truth’

Keeping everyone in the kitchen on the same page regarding recipe updates and ingredient costs is important for consistency and cost control.

Syrve simplifies the process by keeping a single digital record of prices. When the cost of any ingredient increases, this is reflected across your operation automatically.

The bottom line

At a time of high ingredient costs, precise cost calculation and tracking are fundamental to financial success. Syrve equips you with the tools to streamline your financial processes, ensure accurate pricing and maintain control over costs.

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