Bar and restaurant portfolio
We introduced a monthly data dashboard which identified €200,000 of potential additional monthly revenue and improved communication between operations and finance teams.
What we did:
Our client had a portfolio of residential properties throughout Europe, each with in-house food and beverage outlets. We were initially engaged for a 12-month programme to look at each of the bar and restaurant locations in turn, using sales data, product mix, timing information and margins to optimise the performance of each unit.
This evolved into a more general role looking at macro data across the portfolio. We introduced consistency in record keeping, improving the quality and accuracy of the original data. We also worked with the operations and finance teams to help them better understand the source of the information that their existing systems used to produce reports.
The introduction of a monthly data dashboard led to a better understanding of local performance metrics which in turn improved the accuracy of forecasting. Information was presented in simple graphical formats, combining data streams from different sources, to give a clear view of performance for local and head office management teams. Sharing of best practice across the portfolio led to potential additional revenue of €200,000 per month.
- Date: 19th January 2020
- Category: Intelligence