Revival of xtraCHEF’s Inventory Management Module

By CIOReview | Friday, August 16, 2019
Andy Schwartz, Co-Founder & CEO

Andy Schwartz, Co-Founder & CEO

The Inventory Management module of xtraCHEF can enable customers to save time, decrease waste, and perk up profits. The beta customers for the company’s new Inventory Management feature have witnessed more than 60 percent reduction in the time to prepare and handle inventory already.

FREMONT, CA: xtraCHEF is a leading cloud-based restaurant management platform, which offers best-in-class Accounts Payable (AP) automation along with back-of-house business and operational intelligence. The company lately announced the release of their latest product featuring a state-of-the-art Restaurant Inventory Management solution.

Several restaurant inventory and ordering systems in the present-day market require significant manual running and maintenance to stand for an accurate reflection of inventory values. By utilizing the core data extraction technology of xtraCHEF, the company is being able to keep an eye on the price fluctuations and adapt inventory values in real-time without any manual intervention.

“We add value by bringing transparency to the procurement process and allow our customers to use the accurate data that we capture to make better purchase decisions, manage their inventory and ultimately boost margins,” said Andy Schwartz, Co-Founder and CEO of xtraCHEF.

The unique attribute that differentiates the Inventory Management and Purchasing products of xtraCHEF is that it automatically updates the inventory values depending on a configurable algorithm. The algorithm is derived from the customers’ own purchase data of the most recent prices. The platform is straightforward and has smooth operations, which can be used by every team. Customers can use the new and improved Product Catalogue of xtraCHEF that is populated automatically by the invoice line-item digitization process performed by their flagship AP Management product. The staffs of the restaurant take inventory counts in an optimized, drag-and-drop user interface available on any tablet, desktop, or mobile device.

The xtraCHEF team has built a tool that gives accurate inventory in a restaurant with lesser operational time. The device is a precious asset for the finance team as well as helps the executive group to handle the profit and loss statements with precision.

The platform has user-friendly features that include shelf-to-sheet set-up and count sheets used on mobile, offline, or printed on paper. It allows users to place orders faster to their vendors in just a few clicks along with a readily available purchase history data to help the operator during the process.

xtraCHEF was recognized as one of the 10 Most Promising Food and Beverages Solution Providers of 2018 by CIOReview. The platform enables foodservice operators to make the most of profits and productivity by leveraging a blend of ML, data science, and quality control.

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