Fiscal year 2016 is upon us and we need to be sure that we are prepared to drive innovation and support all budgeted expectations
The time in now to begin to launch your improved financial strategies that have been learned throughout the past year. Financial engagement is
Just one small part of your operation, however it truly proves to be first line of information to detail how you are doing with your financial performance
To insure that you are a financial leader and ready to be successful in fiscal 2016, take a few minutes and ask yourself the following;
Financial performance preparedness, are you ready?
Maximizing revenues
· Have you identified all potential revenue streams within your account?
· Do you fully understand how Revenues are defined beyond cash flow?
· Does driving revenue have a significant purpose in your day to day management routine?
· Are your revenue streams providing profitable outcomes to your financial performance?
Purchasing controls
· Is my purchasing solid and flawless mirroring my true need for the menus I’ve created?
· Am I hitting my weekly purchase targets?
· Is my weekly inventory accurate with updated pricing on all items purchased?
Food Cost
· Is my Food Cost as a percentage of Revenue at or below my budgeted expectations?
· Do I hold my production team accountable to directives as detailed in my production sheets?
· Am I driving “My Food Rules” daily, for every meal?
· Are portions controlled and monitored for every meal served?
Labor Cost
· Do I follow the budgeted number of hours set up in Ebudget?
· Do I review daily reports of actual hours worked in My Staff on a daily basis?
· Is my hourly staff maximizing productivity during each shift worked?
· Am I holding my salaried and hourly staff accountable to budget parameters on a regular basis?
· Is my overall labor expense in line with my budgeted labor percentage of revenues?
Managing Direct Expenses
· Am I purchasing exactly what I need with regard to Paper and Cleaning?
· Do I manage my Pcard expenses effectively in e Finance?
· Am I working closely with my accounting supervisors to insure all expenses are captured prior to month end?
Opportunity Buys
· Is my percentage of OB monthly spend at maximum levels
· Do I menu ALL of my OB purchases monthly?
· Are my OB invoices processed within the week of purchase to insure proper tracking?
· Does My Orders efficiently reflect my OB items purchased with a stock location to insure $$$$ values are realized?
Looking forward to a great 2016