Restaurant sales

Restaurant365 reports rebound in restaurant sales as third year of COVID-19 approaches

IRVINE, Calif., March 25, 2022 /PRNewswire/ — As the COVID-19 pandemic passes the two-year mark, Restaurant365the leading all-in-one restaurant management platform, today announced that customer sales have increased since the onset of COVID-19 and that restaurants are showing signs of being better positioned to invest in new technologies in order to continue to improve their operations.

“We are extremely pleased to see the love people have for restaurants and the resurgence in food sales. However, restaurants continue to face a major challenge with labor shortages and rising labor costs. food prices that we believe will persist through 2022,” says Tony Smithco-founder and CEO of Restaurant365.

To overcome these obstacles, savvy restaurateurs are integrating restaurant-specific technology to increase efficiency, reduce costs, and create new revenue streams. “For the average restaurant, food sales are around 7% higher than they were in 2019 and 34% higher than in 2021, but profitability is not rebounding as expected due to inflation,” continues Smith. “We have moved beyond the early pandemic mindset of scrambling to generate sales from new channels and the industry theme of 2022 must instead be the year of optimizing profitability. “

Restaurant365 is committed to providing restaurateurs with the real-time, actionable data needed to drive profitability. Since the start of the pandemic, the company has seen an acceleration in technology adoption as new customers seek the relief needed to deal with operational challenges related to store closures, staff shortages, disruptions in supply chain and changing consumer expectations.

Mongolian Concepts and Clean Eatz Corporate are two of many new clients who have recently joined the long list of clients who have worked with Restaurant365 to gain efficiencies, reduce production costs and improve profitability. Other happy customers include Black Bear Diner, Luke’s Lobster and Freddy’s Frozen Custard & Steakburgers.

Many of the changes in consumer behavior that have been forced on the restaurant industry due to the pandemic are here to stay. The rapid adoption of technology for online orders, QR codes and electronic payments is now an industry standard. This same shift in expectation is also true for operators, and Restaurant365 is leading the way with the launch of AP Payments, a solution designed to automate restaurant supplier payments. “Restaurant365 Payments modernizes the AP process by automating the one-click payment workflow,” says Smith. “It’s a risk-free way for restaurateurs to save hours per week and earn discounts, while improving payment security for our customers.”

About Restaurant365®
Restaurant365 is the all-in-one cloud accounting, inventory, scheduling, payroll and HR solution developed specifically for restaurants. The R365 platform simplifies the day-to-day management of restaurateurs, allowing them to control food costs and optimize labor costs. Integrations and open APIs allow Restaurant365 to connect with other systems, including point-of-sale providers, vendors, and banks. The result is accurate and timely reporting that provides a clear and complete view of their activities. Restaurant365 allows operators to focus on what matters: their customers. Restaurant365 is based in Irvine, CA with offices in Austin, Texas and Petaluma, California. The company is backed by Bessemer Venture Partners, ICONIQ, Tiger Global Management and Serent Capital. Additional information is available at Restaurant365.com.

Contact:
Noelle Freschet
650-722-3154
[email protected]

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