There are several industries that have, in 2015, yet to fully embrace technology. In some cases, it is just segments of an industry that has failed to utilize new resources. For whatever reason, restaurants fall into this category. Not restaurants as a whole, but rather the inventory management and expense management processes. While this may be more of a product of the lack of available tools, rather than a lack of will, inventory and expense management is primarily a pen and paper task. Well, we had a chance to speak with a One Spark Creator who wants to change that: ExpenseBite.
ExpenseBite offers a replacement to the pen an paper approach to inventory and expense management. As the process stands today, restaurant managers spend a large amount of time on this task. For example, here are the steps we had to take at a restaurant that I worked for some years back. We had to:
- Physically count all inventory – a task in and of itself.
- Put together a lost of what we needed to order.
- Find the various product numbers for the inventory we needed.
- Get on the phone with more than 5 different distributors to order all of the different products – all the while being fed sales pitches for new products.
- Wait a day or two for delivery.
- Physically count and go through each delivery for accuracy.
Needless to say, that takes an incredible amount of time. Well, ExpenseBite radically simplifies the whole process:
We’ve created a cloud-based vendor management portal for the hospitality industry. Now, restaurants, bars, and hotels can order their alcohol, food, and service items from a single application from any web-enabled device – no matter how many vendors they use! The portal allows for an 80% reduction in time spent on inventory/ordering processes, and with the aggregation of our clients’ buying power, up to a 20% decrease on food and service costs.1
We had a chance to speak with the ExpenseBite Team during One Spark, and learned more about the platform: