KROST CPAs recently attended the Ctuit Software’s Annual User Conference. The conference brought together Ctuit Software experts, restaurant industry leaders, and innovators for three days in Napa, California. We learned the industry’s best practices and tips and interacted with other technical and business experts from the restaurant industry.
Ctuit is a restaurant management software that streamlines restaurant activities. Ctuit provides insight to financial and operational performance, controlling costs, and increasing profitability and performance. The software manages your restaurant with business intelligence to reduce food and beverage costs, increase sales and drive profits, and optimize labor.
We were introduced to Ctuit’s newest products and features during seminars throughout the day. Here are two breakout sessions we enjoyed:
Payroll Validation Session
The Payroll Validation session highlighted many factors where this tool can save your business time and wasted labor dollars. The module can be utilized to determine if payroll rules have been violated at any location during a specified time period. You can setup a multitude of rules including time management, tip declaration, HR related, and Special Pay rules. For example, if you do not want employees at a certain location to work more than 40 hours a week, you can setup this Payroll Validation rule with those parameters for that location. When you run the payroll validation export, any violations of this rule will be reported. It can assist you in saving money by accounting for areas such as missed punches and time efficiency by finding these mistakes in one module instead of manually going through each employee in your POS.
Forecasting and Budgeting Seminar
The Forecasting and Budgeting seminar reviewed the relevance of budgets and forecasts in successful restaurant management. Forecasting and budgeting aids in securing a more lucrative future by managing your sales and labor costs with adequate planning. Utilizing and implementing these tools create a cost-conscious culture. Forecasting and budgeting utilizes historical data to ensure your restaurant’s future success by anticipating future sales, costs, and labor. The Forecast module is designed to help predict various metrics such as sales, guest costs, and labor for a future period. You can see these breakdowns on a weekly and daily basis. Forecasts are similar to budgets, but are designed to be a short-term operational metric. The Budgets page allows you to view, edit, add and upload budget information into Ctuit. The Budget information can be seen and utilized in various areas of Ctuit including the Ops Statement. You can compare how your business is currently doing in sales, cost of goods, and various other areas according to your budget.
If you are interested in using any of these tools to assist you in creating a cost-conscious, profitable restaurant, please reach out to us.