Through our unique combination of industry-leading processes, our tailored hospitality platform, and our experts we have been able to bring powerful results to Australian hospitality businesses. But one of the key tools we use to support our clients is accurate and near real-time data.
But we don’t want to just discuss this in theory, we wanted to showcase the exact outcomes experienced by our clients. To do this we took two key metrics across our client base and normalised the start date to month ‘0’ so we could accurately compare the impact of the first 36 months of working with us. And the results speak for themselves:
1. Reduced Wage Costs
Using solutions like Salesline we can bring together sales data and time and attendance systems into 15-minute increments allowing us to bring both a rich historical and current view of performance. This data allows our clients to create accurate rosters that are efficient and hit profitability targets while reducing things like labour costs. Together with our expert knowledge, this approach has seen clients reduce their wage costs by 6%, despite wages increasing 0.7% as an industry average.
2. Increased Profitability
While the industry averages for profitability have dropped by 4.8% recently, for our clients we have also helped increase profitability (EBITDAR – Earnings before interest, tax, depreciation, amortisation and rent) by 4%. This has led to a total of $21m in additional profit for our clients over their first 3 years.
Three Ways We Use Data to Benefit Our Clients
Data is valuable, and we use it to do more than reduce costs and increase profitability. Here are three other ways we use data to help our clients:
1. Accurate Decision-Making
In the current landscape where many businesses are having to pivot and adapt, accurate information is essential to help make business-critical decisions. Quantaco CEO Anthony Sullivan recently said, “A choice can be made in the absence of the right data and information, a conclusion is drawn when the decision-making process is fully informed by the presence of relevant data and information.” This couldn’t be truer.
Using historical data helps to develop strategies that futureproof the business as well as create forecasts that identify trends and opportunities to leverage in the business that were previously unknown.
2. Operational Agility
Our unique platform also provides a granular view at a near-real-time level to analyse the day-to-day operations and increase operational agility. This allows hospitality businesses to not only reduce unnecessary operational expenditure but improve customer delivery and experience.
Additionally, by using automated data processes we’re able to reduce manual intervention to reduce the likelihood of error, risk, and fraud.
3. Industry Benchmarking
By focusing solely on the hospitality industry and building an extensive customer base, we’re able to provide unparalleled industry benchmarking data. Anonymised for confidentiality and security it gives a powerful way for businesses to better manage margins, supplier contracts, and business performance to remain competitive.
At Quantaco we partner with world-class systems to create turn-key, industry-specific solutions for hospitality that use data to uncover valuable insights. If you want to unlock your potential using data, learn more here: https://www.quantaco.co/services/digital-and-analytics