How Restaurant Management Software Can Increase Your Profits

Enhance efficiency, increase profits, and improve customer satisfaction with comprehensive restaurant management software. From inventory tracking to staff scheduling, platforms have all the tools you need to run a successful restaurant business. Try it now!

Running a restaurant is no small feat. It requires a perfect blend of culinary excellence, outstanding customer service, and, importantly, efficient management. Thanks to technological advancements, restaurant owners and operators now have access to powerful tools that can streamline operations, enhance guest experiences, and improve profitability. In this article, we'll examine some of the top-rated restaurant management systems available in the market: Toast, Tock, MarginEdge, Restaurant365, and Craftable. Each has its unique features, pricing, and specifications designed to cater to the diverse needs of the hospitality industry.

Brand: Toast

Specs: Meet the Best-Rated Restaurant POS System

Toast is renowned for its comprehensive POS system that simplifies restaurant operations, from faster service to detailed reporting. It's no wonder that G2 has rated it as the #1 restaurant POS. The platform is designed with restaurateurs in mind, offering an all-in-one solution that supports everything from online ordering to simplified back-office operations.

With Toast, you get the full package of technology needed to start, run, and grow your establishment, with all the tools interconnected for seamless operations. Recognizing the importance of dependable assistance, Toast provides 24/7 support in various forms: direct customer service and a wealth of self-help resources.

Get What You Need, Nothing More

The beauty of Toast's service model is its adaptability to your specific business needs and budget. You can choose the features that are most relevant to your operation, ensuring that you're not paying for extras that won't benefit your bottom line.

However, it's essential to note that Toast's services are only accessible through devices approved and compatible with its platform. This may mean that not every hardware will work with Toast, and the list of compatible devices can change according to Toast's discretion.

While Toast itself is not a payment card processor, it acts as a facilitator by partnering with processors to offer card processing services, which is a crucial distinction for restaurateurs to understand.

Cost: Starting at $0/month

Brand: Tock

Specs: The Reservation Platform that Works for the Hospitality Industry

Tock has been tackling the hospitality industry's most significant challenges for over a decade. Its platform is designed to revolutionize your business by allowing you to sell not just ordinary reservations but also unique experiences such as chef's counters, cocktail classes, or special happy hours.

Tock is committed to driving revenue across all services and offers tools to manage the flow of your dining room effectively. With no cover fees and a flat rate, Tock stands out as a cost-effective choice for managing reservations and streamlining operations.

Powerful Integrations and Guest Data Ownership

Tock's comprehensive platform offers powerful integrations and discovery tools to ensure your business is easily found and booked. Most importantly, you own your guest data, which is crucial for making informed business decisions and enhancing hospitality.

Tock prides itself on the industry's lowest no-show rate, thanks to its deposit system, credit card holds, and prepaid reservation options. The platform's support team, with over 500 years of cumulative industry experience, is ready to help bring your vision to life and support your success.

Elegant and User-Friendly

Tock's platform is not only powerful but also elegant and user-friendly, ensuring that booking a reservation is a seamless experience for your guests from start to finish.

Cost: Starting at $99/month - 3% fee on prepayments

Brand: MarginEdge

Specs: The #1 Restaurant Management System

MarginEdge claims the title of the number one restaurant management system with its robust features that manage food costs and automate back-office operations. It works by connecting your POS with accounting, enabling immediate cost tracking through various methods such as app uploads, emails, or EDI integrations.

MarginEdge takes pride in its ability to process even the most complex invoices, including handwritten notes, within 24-48 hours. It ensures product-specific tracking and directly syncs with your accounting system for precise coding based on your rules.

Daily Updated Actionable Reports

After processing your invoices and pulling sales and labor data from your POS, MarginEdge offers daily updated actionable reports. These reports allow you to view sales and cost data in one place, avoid end-of-month surprises, and optimize your menu's profitability.

Cost: $330/month/location

Brand: Restaurant365

Specs: Restaurant Management Software to Drive Growth

Restaurant365 is a comprehensive software solution designed to support restaurants of all sizes. Trusted by over 40,000 restaurants, it integrates accounting, operations, and workforce management to create a platform that drives growth and efficiency.

Comprehensive Business Tools

With tools for accounting, inventory management, and payroll, Restaurant365 is focused on increasing sales, controlling food costs, and optimizing labor. It pulls detailed sales and labor data directly from your POS to create automatic journal entries, saving time and increasing accuracy.

Real-Time Tracking and Reporting

Restaurant365 offers real-time tracking of inventory, labor, and scheduling with features like intraday polling. Its robust reporting tools provide insights into your restaurant's performance, helping you control prime cost and enhance profit margins.

Cost: Request a Demo

Brand: Craftable

Specs: Improve Operations and Increase Profits

Craftable is a restaurant management software that aims to move operators out of the back office and into an environment where better experiences are crafted. It focuses on recipe and plate costing, menu engineering, and operational reporting to ensure profitability.

Streamlined Purchasing and Invoicing

Craftable digitizes orders and manages purchases from a unified platform, integrating with over 6,000 food and beverage vendors. It syncs with popular accounting solutions and provides electronic invoicing to reduce labor hours and accounting errors.

Cost: Book a demo for more info on pricing

The restaurant industry has a wealth of innovative management solutions at its fingertips. Whether you're a small independent eatery or a large multi-location enterprise, systems like Toast, Tock, MarginEdge, Restaurant365, and Craftable offer tailored features to meet your needs. These platforms can automate mundane tasks, provide insightful data, and improve overall operations. By selecting the right management system, you can focus on what truly matters: delivering exceptional dining experiences that keep guests coming back for more.