Written by Nils R. | Aug 9, 2021 7:00:00 AM
What is
a
Restaurant Performance Dashboard
? Restaurant Dashboards are considered performance analysis tools and are used by Finance and restaurant managers to look at essential metrics and trends. Some of the main functionality in this type of dashboard is that it provides analysis from six different perspectives, including: 1) Monthly trend in restaurant covers, 2) Revenue comparison across restaurants, 3) Top expenses, ranked, 4) Trend in food & beverage (F&B) revenues, 5) Beverage revenue ranked by category, and 6) Food revenue for breakfast, lunch and dinner. You find an example of this type of dashboard below.
Purpose of
Restaurant Performance Dashboard
s Hospitality companies use Restaurant Performance Dashboards to provide a high level snapshot of statistical and revenue trends and comparisons. When used as part of good business practices in FP&A departments, a company can improve its operational tactics, and it can reduce the chances that low performing areas go under the radar with resulting lack of action.
Example of a
Restaurant Performance Dashboar
d Here is an example of a Restaurant Dashboard with trends and comparative metrics. [caption id="" align="alignnone" width="2560"]
Example of a Restaurant Performance Dashboard for Hospitality Companies[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Dashboard
? The typical users of this type of dashboard are: Executives, CFOs, Analysts, Restaurant Managers.
Other Reports Often Used in Conjunction with
Restaurant Performance Dashboard Progressive FP&A and Executive departments sometimes use several different Restaurant Performance Dashboards, along with detailed financial statements, corporate dashboards, forecast models, budgets, KPI scorecards and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
