NetSuite helps restaurants and hospitality businesses streamline processes and drive growth
AUSTIN, Texas , Nov. 13, 2023 /PRNewswire/ — Restaurant and hospitality businesses are turning to Oracle NetSuite to increase productivity, expand visibility, and improve decision making. Hofman Hospitality Group, Lettuce Entertain You, Union Square Hospitality Group, and many others have chosen NetSuite to streamline business processes and provide a scalable foundation for future growth.
NetSuite helps restaurants and hospitality businesses manage their operations on a single cloud business suite to help increase productivity, reduce costs, and expand business insights. With industry-leading enterprise resource management capabilities for financials, accounting, procurement, fixed asset management, and franchise management, NetSuite helps restaurant and hospitality businesses integrate and automate processes, embrace new operating models, diversify revenue streams, and improve the experience they deliver to their customers.
“The restaurant and hospitality industry is increasingly competitive, and businesses are challenged to keep up with changing consumer preferences in addition to rising food and labor costs,” said David Rodman, senior vice president of customer success, Oracle NetSuite. “With NetSuite, restaurant and hospitality businesses can streamline financial and other operational processes to increase productivity, capitalize on growth opportunities, and successfully scale.”
Restaurant and hospitality businesses that are leveraging NetSuite include:
Hofman Hospitality Group
Founded in 1951 in Long Beach, California, Hofman Hospitality Group is a family-owned restaurant group that started as a single beach burger stand and has since grown its portfolio of locations and cuisines. Today, Hofman Hospitality Group operates 25 restaurants including Hof’s Hut, Lucille’s Smokehouse Bar-B-Que, and Saint & Second throughout California, Nevada, and Arizona. To help scale its business and manage new revenue streams, Hofman Hospitality Group uses NetSuite to centralize financial data, automate reporting processes, and gain the insights it needs to improve strategic decisions.
“Within the Hofman Hospitality Group corporate structure, we have three separate business entities and multiple revenue streams,” said Chris Crawley, chief financial officer, Hofman Hospitality Group. “With NetSuite, we have an integrated system that has enabled our finance team to gain a single view into data from across our operations and improve the speed and accuracy of financial reporting processes. The insights from NetSuite have also helped us identify new ways to continuously improve the guest experience, which is our top priority.”
Lettuce Entertain You
Founded in 1971 in Chicago, Lettuce Entertain You is a family-owned restaurant group that oversees a portfolio of around 60 distinct brands and 130 restaurants spread throughout the United States including R.J. Grunts, Mon Ami Gabi, Aba, and RPM Italian. To help scale its business and improve the experience for its guests, Lettuce Entertain You uses NetSuite to support its accounting processes, increase efficiency, and improve business visibility across its growing portfolio.
“As our portfolio of restaurants grew rapidly so did the complexity of our business and this resulted in our finance team spending too much time on manual data analysis and reporting,” said Jessica Ling, controller, Lettuce Entertain You. “With NetSuite, we have reduced the number of time-consuming and manual finance tasks, accelerated financial insights, and enabled our leadership team to quickly respond to changing industry trends and customer demands.”
Union Square Hospitality Group
Founded in 1985 in New York City, Union Square Hospitality Group operates 14 restaurants across New York, including Michelin Star restaurants The Modern and Gramercy Tavern, and offers a wide range of related services including hospitality consulting, catering and events, and hospitality investment funds. To improve the speed of its financial processes, maximize profitability, and ensure it can continue to provide high-quality guest experiences as it scales, Union Square Hospitality Group chose NetSuite and NetSuite Planning and Budgeting to support business performance reporting and forecasting.
“We operate under tight margins and disparate business systems can make it difficult to assess profitability and create accurate forecasts,” said Tiffany Daniele, chief financial officer, Union Square Hospitality Group. “By providing an integrated suite, NetSuite has given us the visibility we needed to quickly identify performance drivers and gain a better understanding of what’s happening across our business. The insights from NetSuite have empowered us to open new restaurants, design new menus, and source more strategically.”
For more information about NetSuite offerings for the restaurant and hospitality industry visit: https://www.netsuite.com/portal/industries/restaurant.shtml.
About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 37,000 customers in 219 countries and dependent territories.
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.
SOURCE Oracle NetSuite
Originally published at https://www.prnewswire.com/news-releases/restaurant-industry-serves-success-with-netsuite-301983976.html
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