Time Saved = Money in the Bank

Savings Overview:

COGS-Well provides customers with very significant time savings via special services that are not available from other restaurant inventory control systems providers.

These savings add up to about $2,400 upfront for each new restaurant concept and about $285 per month ($3,420 per year) ongoing. Below is an overview of how we deliver these savings.

Initial Setup:

Unlike any of our competitors, COGS-Well will build your inventory item database, including vendors, categories, and GL accounts. We also will configure the count unit and recipe unit for each inventory item, and make sure every item will appear on your next inventory count. This service will save you a lot of time and resources.

Our average customer has 1191 food and beverage inventory items per location. It typically takes about 4 minutes to add a new inventory item so COGS-Well can save you 4,764 minutes (about 80 hours) on your initial setup.

Using an average hourly cost of $30 per hour for a manager or system administrator to build your initial database, COGS-Well can save you $2,400 (80 hours X $30 per hour) for each new restaurant concept. We also typically complete your initial setup in just a few days meaning you can start using COGS-Well in days versus months.

Invoice Entry:

Other than broad-line suppliers, very few food and beverage vendors offer electronic invoicing (EDI). The vast majority of vendors are still issuing paper invoices.

COGS-Well's competitors require paper invoices to be entered manually (including the inventory item detail). COGS-Well, however, imports all invoices from all vendors (paper or electronic), including the line item detail.

COGS-Well's customers average 91 food and beverage paper invoices per month, with an average of 8 inventory items per invoice. It takes managers about 4 minutes on average to enter a new invoice manually.

Rather than requiring managers or system administrators to manually enter invoices, COGS-Well imports all vendor invoices, including the line item detail, from Plate IQ, or from vendors offering EDI, or via our invoice scanning solution.

By eliminating manual invoice entry, we can save 6 hours (4 minutes X 91 invoices) per restaurant per month. This equates to $180 per month or $2,160 per restaurant per year.

We should also mention that the number one reason that managers dislike or underutilize a typical inventory system is the requirement to manually enter invoices. With COGS-Well, however, managers will spend zero hours entering invoices. And managers will also have more time to do what they do best.

Receiving Audit Service:

Unless you are using COGS-Well, you or someone on your team will be required to manage your inventory item database. This means that when new items are received, or the vendor changes, or the packaging changes, or information is missing on an invoice (like the packaging for an item or the item code), you or your team will have to add, change, find, and/or correct the information for each item.

COGS-Well is the only inventory system provider that will maintain your inventory item database for you, and at no additional fee.

We have a team of auditors who receive alerts whenever there is new, changed, or missing item information on one of your invoices. They act on these alerts and make sure any issues are resolved quickly and very accurately.

Anyone using a system other than COGS-Well typically spends about 50 minutes per week (3.5 hours per month) per restaurant resolving inventory item issues. By doing the receiving audit for you, COGS-Well can save you about 3.5 hours (or $105) per month per restaurant, or $1,260 per restaurant per year.

Summary:

COGS-Well's innovative technology combined with our unique services will save you time and money that other inventory system providers cannot save you.

• We will do your initial system setup for you and in just a few days.

• We will also eliminate the requirement for any manual entry of invoices.

• We maintain your inventory database for you!

We do the hard setup and maintenance work for you so you can focus on results.