3 Reasons Why Best-of-Breed Restaurant Financials Outsmart All-in-One Suite Software

April 3 2019

In the search for a financial management solution, restaurant companies face a well-established dilemma: application suite or best-of-breed software. It’s a legitimate question—would you be most successful in choosing a suite of products from a single vendor, or using a combination of best-in-class products from several industry leaders?

When you look at the diverse and fast-changing needs of your business, it quickly becomes clear that all-in-one solutions are unable to meet all your requirements. Best-of-breed software offers the flexibility, features, and rich reporting that can help you run your business more efficiently today and adapt to your future vision.

Here’s why:

  • Feature-rich software to run your business more effectively, efficiently, and easily.

With application suites, vendors are typically unable to focus in multiple areas and get stretched thin when required to manage more than one solution. In addition, R&D money also gets spread thin across a wide range of priorities. Because they can focus on developing and perfecting a core set of features, best-in-class vendors provide significantly greater functionality and easier deployments than application suites. As a result, best-in-class vendors often have a deeper understanding of their customer’s needs and pain points, and a dedication to guaranteeing a positive customer experience.

  1. Smarter reporting—your way.

With many all-in-one suites, reporting may be just another application in the software offering. To really drive your restaurant company’s performance even higher, you need fast insights and clear visibility. Best-of-breed solutions, such as Sage Intacct, offer the most complete financial reporting system needed for every aspect of your business.

  • Features to look for include:

Easy, intuitive financial dashboards that give a quick, accurate overview of your operational and financial performance.

Unparalleled visibility with both standard and easy-to-customize reports, dashboards, or visualizations.

Dimensions that enable real-time analysis of business performance by business drivers—without managing a complex chart of accounts.

Flexibility to track and report both financial and operational data.

  • Flexibility to fit your changing business needs.

Success depends, in large part, on your ability to adapt to changes and seize new opportunities. You might find it difficult to do that with all-in-one application suites that only support your restaurant operations. If you want to expand your business to, say, sell popular menu items online or in a retail environment, a best-in-class financial management system is a smarter way to go. Sage Intacct, for example, partners with more than 200 solution providers, giving you the best functionality to meet your restaurant company’s needs. This way, you can run your business the way you want using the best solutions on the market both today and tomorrow. 

You don’t have to be locked into the limitations of an all-in-one application suite. Explore the freedom and flexibility that a best-of-breed software solution provides. Speak with the restaurant technology and finance experts at Tablespoon today about how best-in-class solutions can transform your accounting and financial operations.