Restaurant owners, operators, and teams are passionate about creating incredible guest memories and growing to create constantly improving customer and employee experiences. Choreographing the everyday dance of a restaurant is challenging enough. Paying all the vendors and suppliers who make it possible shouldn’t be. That’s why Restaurant365 created the AP Center. It’s an easy-to-use, streamlined hub for every restaurant company’s accounting payable function.
With R365’s AP Center, there’s no more toggling between different pages. Instead, oversee accounts payable conveniently and in less time, easily control cash flow, and see deeper into the AP process to identify and correct problems or spot potential opportunities.
The Future of Accounts Payable
Users can review and approve invoices, manage workflows, and send payments with one click, consolidating tasks, increasing speed and accuracy, and removing administrative burdens. AP Center turns everyone with any role to play in the AP process into a force multiplier and, when coupled with AP Payments, can generate cost-saving rebates.
Today, most restaurant companies remain under historic pressure even after the global pandemic. The industry’s total employment remains 728,000 positions below the pre-pandemic peak, according to the National Restaurant Association. At the same time, the association, in its annual state of the industry report, predicted the industry’s 2022 sales would clock in at a record $668 billion. Restaurant operators are long used to trying to do more with less. However, today, they’re tasked with seizing a larger-than-ever opportunity with a historically low level of resources. The need for efficiency-boosting tools is critical in areas that require many hours of work that would be more valuable if spent on long-term strategies and projects.
“Centralizing accounts payable processing and reporting… through a shared service environment ensures all staff members adhere to common practices and standards and measures their performance against established business metrics,” Deloitte wrote in a recent report. This has the added advantage of enabling you to accomplish more tasks in a faster timeframe and with fewer resources.”
Speed for Modern Restaurants
Time savings and convenience are two of the core principles of R365’s AP Center. Colorful callouts make using the interface quick and easy while keeping payments on track and on time. See items recently added to your queue and know how many days you have left before payments are due without clicking into each tab. Users can also see approved and unapproved payments and those that recently entered the queue.
Oversight Where & When It Matters
While smoothing out the complete payment process was critical, so was ensuring control over the entire process. Leaders can easily establish permissions and approval workflows, so the right individuals are seeing and signing off on payments with the ability to approve or deny invoices in bulk. It’s also simple for managers and accounting teams to keep an eye on and modify the details of invoices that are ready for payment individually or in bulk. Additionally, busy individuals no longer need to wait until they’re in front of a computer. Once set as approvers, anyone can have final oversight and say when invoices are paid wherever they are and whenever they’re available.
Dig Into The Details
Finally, AP Center offers unmatched transparency into the entire process, so business leaders can avoid unexpected surprises and quickly and easily understand the root of a problem should things ever go awry. Who approved payments and when they were sent is only a click away, and the AP Center’s summary tab makes it easy to get a holistic view of the entire workflow at any given moment. Restaurant companies can ensure operators are in the loop with payment summaries for the preceding two weeks and can just as easily send a quick AP snapshot to ensure every manager and aspect of operations is on the same page. Once there, it’s easy to drill down into any invoice, payment, or report to see any detail.
While accounts payable are among the critical details that ensure smooth operations, it shouldn’t be the primary focus of restaurant company leaders and managers. With Restaurant365’s AP Center, everyone with a hand in the accounts payable process can easily access and do what’s necessary to get back to building better experiences and even stronger brands.