Upserve Acquires SimpleOrder, Launches Upserve Inventory to Boost Restaurant Profitability
PROVIDENCE, R.I., July 24, 2018 /PRNewswire/ -- Upserve, the industry's leading full-service Restaurant Management Platform, today announced the acquisition of the best-in-class inventory management platform SimpleOrder, which will now become Upserve Inventory, an easy-to-use solution designed to help restaurants streamline operations, cut food costs, and grow profits. Fully integrated into Upserve's complete restaurant management platform, Upserve Inventory gives restaurant owners control over back-of-house operations with real-time food costing, automated inventory management and one-click purchasing.
Food cost is one of the largest expenses for restaurants, accounting for 28-35% of gross sales, but determining the cost of food and how to reduce it is usually manual, time-consuming and error-prone. In a busy, fast-paced restaurant environment, it's also easy to lose track of what was bought, how much and from which vendor. The process is stressful and overwhelming, but most importantly, wasted food translates into lost profits. Brian Reeder, co-founder of Vessel Kitchen in Park City, Utah, has experienced this first-hand, but as an Upserve Inventory (previously SimpleOrder) customer, he has solved for this. He notes, "We know our costs of sales in real-time for each recipe. The data and insights, combined with easy access to our suppliers, allows us to make smarter decisions for our business. I also love that I can see if a supplier has changed prices and that is essential to our success."
"By acquiring SimpleOrder, Upserve brings the industry's best-in-class inventory solution to Upserve's comprehensive restaurant management platform, the magic ingredient that helps restaurants boost profitability," said Angus Davis, CEO and Founder of Upserve. "Customers using Upserve Inventory save 30-50 hours every month and report 5-8% improvement in their margins. Simply put, if your restaurant doesn't have it, your profit margins are suffering."
The solution provides full visibility into inventory and purchasing trends. In addition, restaurants using Breadcrumb POS by Upserve gain a more holistic view into the profitability of their menu, allowing them to adjust each dish based on sales and recipe costs.
Additional benefits include:
- Increase profits: Upserve Inventory shows which ingredients are being plated or wasted (and why)–with real-time food costs restaurateurs can adapt recipes to limit waste while encouraging staff to recommend the most profitable dishes to boost margins.
- Reduce food waste: The U.S. Department of Agriculture estimates food waste in the United States to be about 30 to 40 percent of the food supply. Restaurateurs using Upserve Inventory significantly reduce over-ordering and waste.
- Save time managing suppliers: Manage vendor relationships by creating and sending orders digitally to each supplier–a friendly mobile app tracks deliveries as they arrive. Restaurateurs can also see a full spend history with each supplier to negotiate the best prices.
- Manage multiple restaurants via a central online kitchen: For those with a central kitchen, Upserve Inventory creates a fluent operation that ensures branches get the supplies they need, when they need them.
- Buy local: Upserve Inventory makes it easier for restaurants to expand their purchasing beyond the big mainline distributors and to source from local, niche food and beverage distributors.
SimpleOrder will continue to operate outside the United States as SimpleOrder by Upserve. SimpleOrder, which operates in over 25 countries, was founded in 2012 and has been backed by Ibex Investors and Cyrus Capital Partners.
"We're absolutely thrilled to be teaming up with a forward-thinking company like Upserve to realize the vision of an end-to-end solution for the restaurant industry," said SimpleOrder CEO and co-founder Guy Even-Ezra.
To learn more about Upserve Inventory please visit https://upserve.com/platform/inventory-management/.
About Upserve
Upserve is the magic ingredient that helps restaurateurs thrive, putting everything they need in one place. In a single platform, Upserve offers the market-leading cloud point of sale for restaurants: Breadcrumb POS by Upserve; actionable analytics through Upserve HQ; transparent processing with Upserve Payments; automated inventory and ordering with Upserve Inventory; mobile restaurant management with Upserve Live, and seamless integration with leading third-party restaurant apps via the Upserve Marketplace. Over 10,000 restaurants use Upserve to manage relationships with more than 57 million active diners, process over $12 billion in annual sales, and serve over 36 million meals per month. Upserve is headquartered in Providence with additional offices in Denver, New York City, Chicago and Tel Aviv. For more information, please visit Upserve.com.
About SimpleOrder
SimpleOrder was founded in Tel Aviv, Israel in 2012 by restaurant industry veterans who saw a critical need to bring back-of-house operations into the 21st Century. SimpleOrder provides restaurant operators with an automated inventory system that provides counts in real-time, reducing food waste while simultaneously streamlining the ordering and replenishment process. SimpleOrder currently helps thousands of restaurants in over 25 countries reduce waste, cut costs and streamline operations.
Media Contact:
Sarah Pariseau
[email protected]
SOURCE Upserve
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