What does the average restaurant spend per year to manually enter invoices? $7500* per year. Not to mention another $3,000 to scour through vendors’ order guides so a restaurant operator can update weekly prices, bid out goods, and hold vendors accountable for their promised prices. Now, for good measure, let’s toss in another $5800 for the average time spent submitting orders to vendors and fixing data entry errors on AP. That can increase the costs to $16,300 per year…that’s a big deal. The good news is there is a fix.
Compeat is here to make the restaurant operator’s life easier. Compeat’s swift and efficient Vendor Interface Module allows a restaurant operator to electronically import order guides and invoices and also transmit orders directly to the vendor. In 5 minutes or less, you can import your order guides and update ALL prices and item codes. Then in another 5 minutes, you can enter in purchase orders and bypass the middleman by submitting directly to the vendor. The best part is you can create your AP batches with all invoices and credit memos with line item detail in just 5 more minutes. That’s roughly $14,000 added to your bottom line PER STORE.