Even with the highest quality cuisine and most talented chefs, a restaurant can suffer greatly as a result of poor budgeting and financial mismanagement. Fobesoft was created as a user-friendly SaaS software platform for computer and mobile devices that is designed to help manage a restaurant’s P&L statement in real time, while also providing instant actionable feedback to enable management to take corrective action.
Currently, most independent restaurants don’t receive profit and loss numbers until mid-month or later (if at all), which can create challenges for accurate budgeting and financial forecasting. No simple, user-friendly software platform currently exists to provide a transparent overview of a restaurant’s daily expenses compared to anticipated budgets.
Fobesoft includes a detailed budget model that allows owners to establish financial goals for the next five years. The software will show a real time Daily Sales Report (DSR) that analyzes daily sales and expense data, allowing managers and owners to make any necessary adjustments in a much shorter time frame rather than waiting for the end of a month, quarter, or year. This will allow restaurant operators and managers to streamline business operations and improve profitability. In addition, the software has the capability to “roll up” data from multiple locations in order to get a higher level view of multi-unit operating performance.
The Company’s founders have extensive experience in the restaurant industry, having opened and operated a number of successful restaurant operations. In addition, the team has extensive experience in software and IT development having worked in this field for a number of larger multi-national corporations. This unique combination of software development and industry experience uniquely positions the team to deliver an extremely useful, user-friendly tool that has already been extremely well-received by initial test users.