PAR Technology Adds Craftable to its BRINK POS® Integration Ecosystem

Rhea-AI Summary

ParTech has integrated Craftable into its Brink POS ecosystem, enhancing operational efficiency for restaurant operators. With Craftable's tools, users gain real-time insights into inventory, sales, and costs, resulting in reduced food costs by 2-3%, pour costs by 3-5%, and labor costs by 50%. This partnership aims to support the restaurant industry during challenging times, offering comprehensive management solutions for both single and multi-unit locations.

Positive

• Integration of Craftable into Brink POS enhances operational efficiency.
• Real-time visibility into costs improves financial management for restaurant operators.
• Reduction in food costs by 2-3%, pour costs by 3-5%, and labor costs by 50%.

Negative

• None.

ParTech, Inc., a leading global provider of point of sale (POS) software and integrated technical solutions to the restaurant and retail industries, has added Craftable to its Brink integration ecosystem. ParTech, Inc. is a wholly owned subsidiary of PAR Technology Corporation (NYSE: PAR).

Craftable’s platform provides single-site locations and multi-unit enterprises with ordering and purchasing capabilities, real-time inventory management, menu costing and engineering, AP automation and payments, and financial reporting.

As a result of Craftable’s ability to collect sales tickets and labor data in one place, restaurant operators have unprecedented visibility into their true costs. The platform also gives operators insight into sales and purchase data so they can track inventory and profits in real-time.

“PAR is pleased to add Craftable to its expanding Brink POS integration ecosystem,” said Stephen Lee, Director of Strategic Partnerships for ParTech, Inc. “Craftable’s platform will help Brink POS customers reduce food and labor costs, which will improve their bottom line during these changing times for restaurants.”

“We are passionate about supporting restaurant operators as they navigate these difficult months during the pandemic. Partnering with the Brink/PAR team allows us to offer a best-in-class restaurant management platform so operators can have better management over their food and operational costs. This partnership directly helps quick service restaurants closely monitor their costs, sales, and margins as restaurants are working with far less resources than they had previously,” said Phil Probert, Director of Partnerships at Craftable.

Craftable’s ability to automate profit and loss accountability gives restaurant operators greater visibility into their ordering, payments, inventory, invoices, menu costing, and more right from their POS terminal. These innovations are enabled through the Brink POS open API, resulting in reduced pour costs of 3 to 5%, 2 to 3% lower food costs, and a 50% reduction in labor costs.

Quick Facts

• Founded in 2015 in the Silicon Valley with offices in Silicon Valley, Dallas, and New York
• The Craftable suite includes: Bevager for the bar, Foodager for the kitchen, House for non F&B items, Books for invoicing & payments, and our newest product, Analytics, which unites sales, costs & labor together for rich business intelligence and daily prime cost reporting.
• Who we work with: From single-site locations to multi-unit enterprise, we work with groups of all sizes in the following spaces: fine dining, fast casual, QSRs, bars & nightclubs, and hotels.

About Craftable

Launched in the heart of the San Francisco craft cocktail and farm-to-table movements, Craftable collaborates with restaurants and bars to drive profit and reduce labor costs. We serve over 50,000 hospitality professionals across North America by simplifying ordering, payments, inventory management, electronic invoicing, and recipe and menu costing while reducing back-office labor hours. Our cloud-based platform is available to use on any device - desktop, tablet, or mobile phone and includes unlimited free support for all users. For more information, visit https://craftable.com/.

About PAR Technology Corporation

PAR Technology Corporation through its wholly owned subsidiary ParTech, Inc., is a customer success-driven, global restaurant and retail technology company with over 100,000 restaurants in more than 110 countries using its point of sale hardware and software. ParTech’s Brink POS integration ecosystem enables quick service, fast casual, table service, and cloud restaurants to improve their operational efficiency by combining its cloud-based POS software with the world’s leading restaurant technology platforms. PAR Technology Corporation’s stock is traded on the New York Stock Exchange under the symbol PAR. For more information, visit www.partech.com or connect with PAR on Facebook or Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210129005037/en/

FAQ

What is the significance of the Craftable integration for PAR stock on NYSE?

The integration enhances Brink POS, potentially increasing customer adoption and driving revenue growth for PAR Technology Corporation.

When was Craftable integrated into ParTech's Brink POS ecosystem?

The integration was announced on January 29, 2021.

How does Craftable's platform benefit restaurant operators?

It provides tools for real-time inventory management, cost tracking, and sales insights, significantly reducing operational costs.

What cost reductions can restaurants expect from using Craftable with Brink POS?

Restaurants can expect a 2-3% reduction in food costs, 3-5% in pour costs, and a 50% reduction in labor costs.

What industries can benefit from the Craftable and Brink POS integration?

The integration benefits various restaurant sectors, including fine dining, fast casual, QSRs, bars, nightclubs, and hotels.