5-Out in 2022
2022 was an exciting year for 5-Out and our mission to support restaurant profitability! We grew our team and number of locations, announced exciting product enhancements, and partnered with some of the best technology solutions in the business.
In 2022, we launched tons of new features and product updates to make 5-Out even more powerful and help operators make better financial decisions! Some highlights include:
Our platform will now predict the number of specific menu items that will sell in a given period. You can see the item name, menu category, and the forecasted quantity we expect you to sell, up to 31 days into the future.
With the release of our Enterprise Dashboard, multi-unit operators can get unparalleled visibility into their sales forecasts, labor costs, and COGS targets across locations. Owners, operators, regional & district managers, as well as in-store team members can easily see which locations are hitting their labor cost + COGS targets and which locations may be falling behind.
Our employee mobile app brings the power of our scheduler to the front lines. The app allows employees to view, manage, and trade shifts on the go. Chat and announcement features streamline communication while ensuring that the entire team is on the same page.
In 2022 we were thrilled to announce integrations and partnerships with several technology solutions, providing operators with a seamless experience and powerful insights.
We pull sales data directly from Toast or Square (combined with additional sources like weather, events, etc.) to predict future sales with up to 95% accuracy.
We’ve integrated with 7shifts to make it easier for restaurants to build optimized schedules, track and respond to labor costs in real-time, save money by not over-scheduling your staff, and ensure you have the right resources to meet demand.
Our partnership with Restaurant 365 allows operators to reduce food waste by making purchases based on predicted demand.
A Growing Company
This year we grew our footprint by 256%, with customers in 42 states! 🤩
We’ve worked with some incredible customers, including Tono Pizzeria + Cheesesteaks who use 5-Out to manage labor costs and Little Italy Pizza who have seen COGS drop from 34.5% of sales to 28% over the course of six months.
Additionally, we’ve welcomed new members of the team, including a new Head of Data science Rob Churchill who will help us continue to improve the AI and machine learning capabilities of 5-Out.
Looking ahead to 2023!
As we prepare for the year ahead, we plan to continue to make exciting investments in our product to support restaurant operators even better. Some of our most exciting updates on the horizon include:
- Increased accuracy with the launch of our next generation "neural network" forecasting engine
- COGS budget automation with integrations to MarketMan, Craftable, xtraCHEF, Margin Edge and R365
- Reduced need for forecast overrides with visibility into internal events and catering and external local and national events
- Monthly and yearly budget tracking with our new Financial Planning & Analysis module
We look forward to another exciting year ahead for 5-Out and the restaurant industry! Cheers to 2023 🥂