Unlocking Savings with Savor: Discover Your Top 10 Supply Expenses

Unlocking Savings with Savor: Discover Your Top 10 Supply Expenses

Managing supply expenses can be a daunting task. With tight margins and fluctuating costs, staying on top of your expenditures is crucial for maintaining profitability. That's where Savor comes in. We provide restaurants and restaurant chains with the tools they need to quickly understand their supply expenses and uncover opportunities for savings. One of the standout features of Savor is our "Products" report, which offers a clear and actionable view of your spending. Let's dive into how this feature can benefit your business.

Understanding the Top 10 Expenses Report

The Top 10 Expenses report is designed to give you a comprehensive overview of your highest supply expenses within a given time period. Here's what you can expect:

  1. Top Ten Items: Identify the ten items that account for the most significant portion of your supply expenses. This insight allows you to focus on the most impactful areas of your spending.
  2. Expenditure Details: See exactly how much you spent on each of these top items. Transparency in your spending helps you make informed decisions.
  3. Percentage of Total Expenses: Understand what percentage of your total supply expenses each item represents. This context is crucial for prioritizing cost-saving measures.
Example Top 10 Products by Spend View

Flexible Time Periods and Filters

To make the most out of this report, Savor allows you to customize the data according to your specific needs:

  • Adjustable Time Periods: Analyze your expenses over various time frames. Whether you want to review your monthly, quarterly, or annual spending, Savor has you covered.
  • Location-Based Filtering: If you operate multiple restaurant locations, you can filter the data by specific locations. This feature helps you pinpoint which branches have the highest expenses and where savings can be made.
  • Distributor Analysis: Filter expenses by distributor to see which suppliers are contributing most to your costs. This information can be invaluable when negotiating prices or seeking alternative suppliers.
  • Product Category Insights: Break down expenses by product category to identify trends and potential areas for cost reduction. Whether it's produce, meat, or beverages, knowing where your money goes helps you manage inventory more efficiently.

Benefits of the Top 10 Expenses Report

  1. Enhanced Visibility: Gain a clear understanding of your spending patterns, which is essential for effective budget management.
  2. Informed Decision-Making: With detailed insights into your top expenses, you can make strategic decisions about where to cut costs or invest more.
  3. Cost Savings: Identifying your most significant expenses and their sources enables you to implement targeted cost-saving measures, boosting your bottom line.
  4. Improved Supplier Relationships: Use the data to negotiate better deals with suppliers, ensuring you get the best value for your money.
  5. Operational Efficiency: By analyzing spending at different locations and across categories, you can streamline operations and reduce waste.

Real-World Application

The Products report is a great starting point for deeper restaurant supply expense analysis. With quick access to your top ten items by spend, you can start to check on the supply expenses that are most impactful to your business. Our users have leveraged this report to identify everything from pricing errors, to waste control issues, to over-portioning issues. In fact, during their first month as a customer, a growing southern California açaí bowl chain used the Products report to identify an over-portioning issue that was costing them over $800 per location per month. As you can see, the supply cost control issues can add up. Quick views like the Savor Products Report, help restaurant operations and supply chain professionals take action fast and drive real savings for their restaurants.

About Savor

Savor helps restaurants, restaurant groups, and chains of all types control supply costs with less work.

With Savor restaurants can manage invoices, track product price histories, and drill down into expense categories. We help restaurants...

  • Automatically catch rising prices before they spin out of control
  • Benchmark prices for supplies against those paid by similar restaurants and bars
  • Easily find alternative products and suppliers in their area
  • Capture credits by automatically auditing invoices for errors

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More From Savor

We're the fastest way for restaurants to uncover supply savings.

Savor helps restaurant businesses uncover new ways to save through operational insights, product price benchmarking, and more. If you're a founder, store operations, FP&A, or supply chain professional, we're for you.