As an Australian restaurant group owner, you know the challenges of managing multiple locations. From inventory control to financial reporting and beyond, it can be an overwhelming task to keep track of everything. NetSuite, a cloud-based business management software, can help streamline your operations and improve your overall business performance.
This article will provide an overview of the benefits of NetSuite for Restaurant Groups, as well exploring some unique considerations for local operators.
Benefits of NetSuite for Restaurant Groups in Australia
Inventory Management for Restaurant Groups
One of the most significant issues for restaurant groups is keeping track of inventory across multiple locations. With NetSuite, you can track inventory in real-time, set automated reorder points, and receive alerts when inventory levels are low. This helps to ensure that each location has the necessary inventory to meet demand while also minimising waste and spoilage. For Australian operators, it can be particularly important to ensure inventory levels are well-managed, given the challenges of supply chain disruptions in recent years.
Financial Management for Restaurant Groups
NetSuite’s financial management features allow you to consolidate financial data from all your locations into a single dashboard. This makes it easy to track revenue, expenses, and profitability. With NetSuite, you can generate financial reports quickly and easily, which can help you make data-driven decisions and optimise your business performance. In Australia, this can be a particular advantage for restaurant groups given our country’s complex tax and reporting requirements, especially when operating in multiple states and regions.
Multi-Location Management for Restaurant Groups
NetSuite’s multi-location management features allow you to manage the operations of all your locations from a single platform. This makes it easy to monitor and adjust operational management tasks, ensuring consistency and quality across the board. With NetSuite, you can easily transfer inventory between restaurants, track sales, and monitor employee performance.
Case studies of successful implementations of NetSuite in the hospitality industry
Nelson Meers Group: Raising a glass to efficient processes and accurate reporting
Nelson Meers Group is a large hotel group based in Sydney with a portfolio of some of Sydney’s largest hotels. Prior to implementing NetSuite, the company managed the finance function with separate MYOB files for different venues making consolidation of month-end reports a long, time-consuming process.
Solotel: Bringing multiple venues under NetSuite to gain a single, consolidated view for management
Solotel is a third-generation hospitality business with over 30 unique venues across Sydney. Migration of their legacy accounting system over to NetSuite’s OneWorld allowed Solotel to view individual venues and the consolidated group at the same time allowing a clearer picture of the company’s financial situation at any-time.
Implementation NetSuite for Restaurant Groups
The implementation process for NetSuite can vary depending on the size and complexity of your company. However, DWR provides a comprehensive onboarding process to help ensure a smooth transition specifically designed for restaurant groups. This process includes data migration, configuration, and training for your staff. We also provide ongoing support to ensure that your restaurant operations run smoothly on your new system. For Australian restaurant groups, it is essential to work with local implementation partners, like DWR, who can ensure the system is optimised for the needs of local companies.
The Wrap Up
For Australian restaurant groups, NetSuite can be an excellent option to manage operations efficiently and effectively. With its inventory management, financial management, and multi-location management features, NetSuite can help you streamline your operations, improve your business performance, and take your restaurant group to the next level. With unique challenges for operators in Australia, working with local implementation partners is key to success. Contact NetSuite today to learn more about how it can help your Australian restaurant group succeed.
