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Is your restaurant business in need of solutions from a bar inventory company? As long as you have a beverage program, an inventory management system should be part of your operations. However, we understand that shopping for bar software coincides with a lot of questions and research. Read on for a thorough breakdown of what to look into before committing to a platform.
The Importance of a Bar Inventory Company
A bar inventory platform is a tool that allows bars and restaurants to easily track their beverage inventory. It’s an important solution in any establishment with a liquor license, as it helps keep track of a high-turnover product. Without restaurant bar inventory software, it can be difficult to manage inventory reports, new purchase orders, and keeping ample stock available at all times. When you use a software, there is no need to ask "how to do liquor inventory" anymore.
8 Questions to Ask When Researching Liquor Inventory Companies
If you landed on this blog post, it’s safe to assume that you’re shopping for a bar inventory company. So, what should you be asking during demos and the decision-making phase? Check out the eight questions below to ensure that you have a seamless shopping experience and that you make decisions with confidence.
1. Can the Platform Integrate With My POS System?
It’s important to partner with a bar inventory company that offers seamless POS integrations. As drink orders roll into the POS software, every ingredient that goes into them will automatically be deducted from the inventory counts. As you can imagine, this is essential to having accurate inventory metrics on hand. If there aren’t automatic deductions, it defeats the purpose of investing in products from a bar inventory company.
2. What Are the Product’s Best Features?
Does the bar inventory company you’re in conversation with have unique features? Is there a particular integration that’s unique from other competitors? Obtaining a clear understanding of this information will help you determine which platform is right for you.
3. Is the Platform Customizable Depending On the Business Type?
A Michelin Star restaurant might want a bar inventory company that revolves around wine cellar organization. Meanwhile, a cocktail bar might want a system where they can manually create mixed drink recipes so that inventory deductions are as granular as possible. Depending on your bar’s style, check to see how customizable your account can be.
4. Will the Data and Reporting Charts Update In Real-Time?
From perpetual inventory to the cost of goods sold, there are many data metrics that you’ll need to monitor. After all, one of the most obvious reasons to partner with a bar inventory company is to accurately measure performance. However, the speed in which bar and restaurant data trends update will determine how reliable they are.
5. Is the Process of Inputting Data User-Friendly?
With a platform like BinWise, you’ll be able to put barcodes on each bottle for quick and easy inventory scanning. But what about those top-shelf liquor bottles or upscale wine brands? For these kinds of beverages, you can add a barcode to the case or box they’re in. But what’s the process like to input individual inventory quantities? It’s essential to learn this process for the sake of your team to simplify their future training sessions. Plus, doing it correctly will ensure accurate data metrics.
6. Can I Access the Platform Remotely?
One of the best perks of cloud technology is its accessibility from mobile devices. Whether you’re away from the restaurant or run a multi-unit enterprise, you may need to view inventory levels from more than one location at a time. With digital accessibility, users will have the convenience of checking inventory counts from anywhere, at any time.
7. What Are the Customer Service Channels?
Even if the product that you invest in is your idea of perfection, there’s still a chance that you’ll have questions and concerns somewhere down the line. But will you be able to call someone directly? Perhaps you’ll acquire a knowledge base during the onboarding phase that can answer most questions. Or, perhaps the easiest customer service channel will be via email. Either way, it’s crucial to know how you can get support.
8. How Long Is the Onboarding Process?
Once you have a clear understanding of the product, it’s time to learn more about the onboarding timeline. The time in which you start the onboarding phase will also indicate the beginning of a payment schedule and training periods among your employees. So, ensure that you’re aware of what the schedule will look like upon signing a contract.
Frequently Asked Questions About a Bar Inventory Company
Want to learn more about the importance and uses of bar inventory companies? Check out the FAQ section below for additional information!
Do I Need to Work With a Bar Inventory Company?
No, you don’t necessarily need to work with a bar inventory company when running a restaurant. However, it can make daily operations a whole lot easier.
What Are Some Examples of Bar Inventory Companies?
BinWise is a super popular option for businesses looking for a bar inventory company. We offer a comprehensive software solution that allows bar staff to track inventory with ease.
Is Software From a Bar Inventory Company Worth the Investment?
Yes, using software from a bar inventory company is worth the investment. With the right solutions in place, businesses can streamline inventory tracking efforts and eliminate the risk of purchasing too much stock. As a result, such companies can allow bars and restaurants to save time and money.
How Can Working With a Bar Inventory Company Help Me?
When an eatery works with a bar inventory company, they can reap the following benefits:
- Lower monthly expenses
- Maximizing revenue
- Less liquor will go to waste
- Easy inventory tracking
- Automated shipments
Do Most F&B Establishments Team Up With Bar Inventory Companies?
Yes, many establishments in the food and beverage industry work with a bar inventory company if they serve alcohol. Due to the high turnover rate of various types of alcohol, it can be hard to keep track of inventory. So, related solutions make doing so a breeze.
Let’s Chat!
Now that you have clear guidelines on what to look out for, let’s have a conversation! Once you book a demo with us, you’ll have the chance to see the solutions form a bar inventory company in action.