The Top 5 Reports in oneVIEW for QSR Leaders
The oneVIEW Product Team
Here’s a story that may resonate. You buy a new car and a few months later the windshield washer fluid light comes on. You grab the replacement fluid but realize you’ve never had to look for the lever that pops the hood. You scan the driver’s side and dash and don’t see it. So, you pull out the owner’s manual. Twenty minutes later, after you’ve consulted five different pages and three different diagrams, you’ve finally located the hood release, found the washer fluid receptacle, and finished the task. A seemingly simple task that should’ve taken less than five minutes ends up taking four times that.
So, what does this story have to do with leaders in the QSR industry? We hear all the time about how difficult it is for them to locate the information they need to move quickly.
It’s certainly not for lack of data. There’s been an explosion of data as technology adoption has ramped up in our industry. The problem isn’t quantity. The problem is getting visibility into that data with speed for actionable insights. For example, if you’re a regional manager responsible for 10 stores, you’re likely in the backend of your point solution going one by one through each store to get the data you need. That’s not only a huge waste of time, it’s unsustainable, especially if you’re growing.
That’s why we created oneVIEW, giving leaders from across the business a comprehensive snapshot of store operations within a single view.
Store managers, district or regional managers, owners, operators, CFOs, and other leaders, all have a need for data whether it’s to track inventory, measure cost of sales or labor, understand sales growth, and so much more. Instead of simply collecting that data, we deliver that same data but in a way that’s more meaningful, so context is clear. There’s less time spent on gathering data and more time spent on decision-making.
With that in mind, we wanted to share the top five reports our customers use for operational efficiency and oversight.
Reconciliation can be a labor- and time-intensive process if you don’t have the right tools. Take this example of a real scenario. A regional manager of a nationally known QSR chain is required to send the deposit slips from each of the stores he manages to his home office. Once they finally reach the accounting manager, they must go through every single slip to verify cash. If that sounds familiar, you may be shuddering at the thought of it now.
The Bank Reconciliation Report makes it so that accounting managers, Controllers, CFOs, or other home office finance leaders don’t have to lose time manually processing data or go into multiple systems to run reports and compare. oneVIEW polls transactions from all stores so when a bank reconciliation is run, discrepancies can be more easily identified and followed up upon.
They can easily see what the bank says has been deposited compared to what the stores report depositing, and quickly understand how much over or short the amount is. That kind of efficiency means finance leaders can move quickly to investigate further.
Credit Card Reconciliation
Like the previous report, there is also the Credit Card Reconciliation Report.
Without the right tools, the process is riddled with manual work. The finance leader must go to the processor’s site to pull a file from them. Then, they go into the point of sale or back of house system to run a separate report. Only then can they compare for any discrepancies.
With oneVIEW, all that data is pulled directly into the system and viewed through a single report. In a single view, the finance leader can see what the store says they processed, the credit card totals from the processor, any adjusted amounts, and the variance. The finance leader still may ask the same questions such as, “why is there a difference between the store and the processor? Was there a settlement issue?” The biggest difference is that they’re able to get to those questions in an incredibly efficient way.
When it comes to data, it’s more than just access. It’s getting the right visibility with the right insights so you can make decisions quickly and efficiently to grow the business.
Owners and operators need an easy way to see what’s going on in their business at any given time. That’s where the Daily Flash Report comes in, providing a snapshot of the business for the day, week, period, or even year.
It includes metrics like sales and transaction growth, average check, labor cost, labor percentage, and more. And it doesn’t matter how granular or big in scope you’d like that data, either. You can get a complete overall summary, numbers broken out by area coaches or district managers, or store-level data.
This report is named as such because ownership, CFOs, COOs, and operations teams want to get a daily pulse on some of the most important metrics trending the health of the business. Typically, this type of report is delivered as an automated email to those individuals, but there are several different ways to receive it, depending on business preferences.
Sales by Occasion
There are a lot of ways to get your food these days. Consumers can dine-in, carry out, come through the drive-thru, or even schedule a mobile, third-party, or in-house delivery. Regardless of how people are getting their food, it’s important for regional and district managers as well as store owners to understand the trends.
Let’s say one store is heavy on dining-in whereas another is seeing higher sales on mobile delivery. With that knowledge, a manager could leverage tactics to boost sales with additional product signage in the store or different promotional offers on mobile ordering.
That’s what the Sales by Occasion Report does for oneVIEW customers. They get a snapshot of tickets, average check, and sales. You no longer must go to third-party platforms or look at back-of-house reports and try to match them up. It’s the type of report where you get the data in a matter of seconds so you can make business decisions and be out in the stores before you’ve even finished your first cup of coffee.
Speed of Service
For a QSR operating in today’s environment, speed is imperative. That accounts for every consumer interaction from the time it takes to get to the cashier to how long it takes to place an order and then have the order in hand and out the door. It’s a key performance indicator that regional and district managers track with a keen eye.
The Speed of Service Report in oneVIEW aims to provide that information succinctly. It helps bring managers visibility into speed of service so they can make decisions around operational initiatives that provide the most efficient service to customers possible.
When it comes to data, it’s more than just access. It’s getting the right visibility with the right insights so you can make decisions quickly and efficiently to grow the business. These present an overview of the top five reports our customers use; however, there are many more options to drill down into the data that’s important to you.
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