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Overview:
COGS-Well provides customers with very significant time savings via special services that are not available from other restaurant inventory control systems providers.
These savings average about $2,400 upfront for each new restaurant concept and about $285 per month ($3,420 per year) ongoing. Below is an overview of how we deliver these savings.
Initial Setup:
Unlike our competitors, COGS-Well builds your inventory item database for you, including inventory items, vendors, categories, and GL accounts. We also will configure a standard pack size, count unit, and recipe unit for each inventory item so you don't have to do this manually. This service will save you a lot of time and resources.
Our average customer has 1191 food and beverage inventory inventory items per location. It typically takes about 4 minutes to add a new inventory item so COGS-Well can save you 4,764 minutes (about 80 hours) on your initial setup versus an alternative inventory control system.
Using an average hourly cost of $30 per hour for a manager or system administrator to build your initial database, COGS-Well can save you $2,400 (80 hours X $30 per hour) for each new restaurant concept. We also typically complete your initial setup in just a few days meaning you can start using COGS-Well in days versus months.
Invoice Automation:
All inventory control systems require invoices to be recorded. COGS-Well imports invoices via scanned images or electronic data interface. The import includes the inventory detail (the item name, quantity received, and cost) for each line item on the invoice.
Our customers average 91 food and beverage invoices per month, with an average of 8 inventory items per invoice. If these invoices were not imported and automatically updated, it would take a manager or administrator using a different inventory system about 4 minutes on average to enter an invoice manually.
By eliminating manual invoice entry, we can save 6 hours (4 minutes X 91 invoices) per restaurant per month. This equates to $180 per month or $2,160 per restaurant per year.
COGS-Well can also export invoices (images and cost detail) to your Accounts Payable system. This enables an AP person to review invoices without taking time out to enter them.
Receiving Audit Service:
Other restaurant inventory control systems will require you or someone on your team to manage your inventory item database. This means that when new items are received, you or your team will have to configure count and recipe units to match each new item's pack size. This can be a tedious, time-consuming, and error-prone process.
COGS-Well, however, uses a combination of intelligent technology and unique customer service to manage your inventory item database for you. Our system automatically configures count and recipe units for each new inventory item. To ensure accuracy, we also have a team of auditors who review these updates to ensure accuracy.
Our customers who have used other inventory systems tell us that we are saving them about 50 minutes per week (3.5 hours per month) per restaurant on average, by updating and maintaining their inventory database for them. They also say we have increased consistency and accuracy for the items. This translates, at $30 per hour, to savings of about $105 per restaurant per month.
Summary:
COGS-Well's innovative technology, combined with our unique services, will save you time and money that other inventory system providers normally cannot save you.
We do your initial system setup for you and in just a few days.
We eliminate the requirement for any manual entry of invoices.
We automate the Accounts Payable process.
We maintain your inventory database for you!
We do the hard setup and maintenance work for you so you can focus on results.
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