Fears about Managing Rising Food Costs Allayed by ChefMod’s New Suite of Tools

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New Quick Books Online Integration and FINANCIALS Suite easily manages restaurant expenses.

Platform Advantage

Integrations available for many accounting platforms including Sage 500, QuickBooks Desktop and QuickBooks Online

The FINANCIALS component of ChefMod, LLC, a leader in restaurant procurement systems, provides restauranteurs a supported process to easily manage every expense, and assigns general ledger account codes to all invoices. Distributor pricing is easily reviewed through invoice reconciliation, e-invoicing, and analytics. In addition to the many established accounting integrations available, including Sage 500 and QuickBooks for Desktop, the suite now integrates with QuickBooks Online for further convenience to restauranteurs.

During a routine restaurant audit, a team of expert accountants found that pricing on regularly purchased food and supply items across company locations was not only different, but would change rapidly over the course of just weeks. The average restaurant purchases several hundred products every month, so with rapidly changing markets, it’s next to impossible for restaurant owners to track and manage price changes on every item from all the distributors they work with. Prices can go up fast, but they don’t always come down as quickly, if at all. The FINANCIALS suite will keep track of these changing costs so restauranteurs can manage their expenses with greater efficiency and accuracy.

Produce and seafood is most volatile, but weather affects almost everything in foodservice. Other contributing factors include quality, supply and demand, labor, fuel, export, financial markets, competition, production, and speculation. After initial orders, product costs will quickly level out to where distributors can sustain profit based on volume of business, their customer’s ability to pay, and order size.

“There is no other magic,” says founder John Oldweiler. “It’s helpful to know what the price should be.”

Because ChefMod commands a large volume of business nationally, regulates payment terms, and manages efficiency in their distributor relationships, they achieve a greater value for their members. “This is what drives long term savings,” says Oldweiler.

ChefMod has grown strong distributor programs that take away fear and uncertainty by providing consistent long term pricing strategies. Fully automated FINANCIALS continue to evolve with a growing number of in-network distributors who compete aggressively for the coveted ChefMod partnership. Restaurants receive a free demo on our website.

About ChefMod, LLC
Established in October of 2005, ChefMod LLC addresses what no company has been able to do which is to provide a nationally focused full purchasing business process with outstanding member service, and the benefits of consolidated purchasing strength.

ChefMod is an LLC whose partners include Ark Restaurants Corp (NASDAQ:ARKR) founded in 1983, industry expert John Oldweiler, and foodservice technical pioneer Eduard Spivak. ChefMod is the only full service restaurant purchasing service in the United States which leverages the combined spending of its members to maintain an efficient cloud-based solution with superior account management.

ChefMod members enjoy the purchasing clout of multiple restaurants, bars, fast food concepts and catering operations independently owned throughout the country including New York City, New Jersey, Washington DC, Boston, Connecticut, Florida, Alabama and South Carolina.

ChefMod’s unique offering provides a customized, professional solution for its restaurant members as well as for their supply sources. With almost three decades of experience, ChefMod has proven that restaurants, bars, culinary institutes, private clubs and quick-service establishments can manage their purchasing process faster and more efficiently using its solution. For a free demo visit their website at http://www.chefmod.com, or email John Oldweiler at John(at)ChefMod(dot)com.

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John Oldweiler
ChefMod, LLC
+1 212-531-6286 Ext: 101
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