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10 Cash Flow Management Best Practices for Restaurants

Lavu

No matter the size of your restaurant, one truth remains: cash flow is king. Restaurant cash flow management is the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.

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Protect Your Restaurants from Invoice Fraud through Technology

Modern Restaurant Management

This surge of revenue and demand for food related services – mostly paid for through digital, contactless transactions – could potentially attract cybercriminals to commit acts of fraud all the more. So what are some of the benefits of AP automation, and how can using this technology protect restaurants from fraud?

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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

Managing a restaurant is not for the faint-hearted. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. A restaurant budget allows restaurant owners and managers to see directly if they are meeting their income and expense benchmarks.

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2024 Outlook: Restaurant Trends and Challenges, Part Three

Modern Restaurant Management

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This trend reflects the growing popularity of drive-thru and fast-casual dining, coupled with the demand for digital technologies such as QSR digital signage and QR codes.

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Cost Cutting Ideas for Restaurants: Increase Restaurant Efficiency & Reduce Costs With These New Technologies

7 Shifts

Now is the time when your restaurant can experiment with and implement new technologies to help reduce costs, improve margins, and stay safe during COVID-19. With features like automated scheduling, time tracking, and analytics reporting, labor management software can help your restaurant reduce its labor costs.

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21 Unique Tip Jar Ideas + Advice on Getting More Tips For Your Restaurant or Cafe

7 Shifts

They're an essential part of how people get paid in the service industry. And for those who do show up in-person at a quick-serve restaurant , they're paying in cash less than one-third of the time. Cash Tip Jar Ideas. Cash Tip Jar Ideas. Or it could be in service of fundraising for a local charity.

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[Guide] How to Implement Digital Tip Payouts at your Restaurant

7 Shifts

Technology continues to revolutionize our lives and the world, and the restaurant industry is no exception. Restaurants without team management tools may miss out on top talent, like those who value tech: Gen Z. One third of that generation expects their employer to provide modern workplace technology.