in COGS and staffing
Mixt was on a mission to provide smart, on-the-go food for smart, on-the-go people. They had the menu down, but the San Francisco-based restaurant group’s back office operations were nowhere near as healthy and fast as its menu. Ready for a change, Mixt turned to Plate IQ for a solution that made sense for its steadily growing business.
Mixt was processing hundreds of paper invoices each week, manually entering each one. The process was expensive and time consuming, requiring two full-time employees. Not only was the work monotonous, but manual entry was also error-prone. Mixt needed a better system that would take less time as well as create more accurate and intelligent reports, freeing up employees to focus on its core business.
Plate IQ automated the process, digitizing Mixt’s invoices and extracting information that syncs to the restaurant group’s accounting software.With Plate IQ’s integrated reporting, the company is able to analyze new purchasing and pricing information for all of its stores using detailed data that was impossible to capture with manual entry. Mixt can now view food costs, menu analytics, and more in real time for every store in its operation.
By optimizing its accounts payable, Mixt saved more than $100,000 in staffing costs within a single year, allowing the company to invest in more strategic growth initiatives.
They’re also saving money due to more accurate data. Plate IQ’s insight-driven analytics empower Mixt to adjust prices and purchases as ingredient costs change. With direct access to comparative pricing for each vendor at every one of its stores, Mixt can lock in consistent pricing to receive the best deals in town. That effort has resulted in a reduction of nearly one percent on its monthly cost of goods sold, yielding an additional $100,000 in annual savings.
"With Plate IQ, we've been able to automate almost the entire AP process and get incredibly granular data that informs and improves all of our purchasing, costing, and accounts payable decisions."