Gourmet Food Holdings is a Singapore-based investment firm that specialises in the F&B industry. Their portfolio includes Mrs Pho, Tsuta (the world's first Michelin Starred ramen restaurant), Burgs (gourmet burgers), Vanda Botanical Desserts and Equate Coffee.
GFH faced significant operational challenges managing a large portfolio of over 20 venues. The company previously tracked food costs manually using Excel spreadsheets. This meant locating supplier items and then matching prices was like finding a needle in a haystack. It was time-consuming and often led to inaccuracies, with the team only able to achieve 60% accuracy. For Corporate Director, Stanley Soon, Identifying variances and leakages in the company's finances was the main priority.
With the help of Restoke’s AI powered platform, they were able to painlessly upload invoices and detect items from suppliers. The system then provided detailed reports that helped the company identify leakages quickly. By configuring ZiiPOS for tracking sales, Restoke helped the company pinpoint discrepancies between actual and theoretical costing. This enabled the company to identify its precise food cost percentage and make data-driven decisions.
Within three months of implementing Restoke, Gourmet Food Holdings reduced its food cost level on a P&L basis from 38% to 28%, which equated to savings of 10% on a $10 million revenue. Stanley has now achieved perfect accuracy at a fraction of the time he spent previously. The business has also replaced manual processes with automated solutions, rolling out Restoke’s HQ and central production kitchen features. With full transparency into their business, Restoke has revolutionised GFH’s operations.