ACCOUNTING and advisory firm CloudCFO seeks to streamline traditional bookkeeping processes to make it easier for food & beverage (F&B) companies to track their finances.
“Now more than ever, with rising costs due to inflation, maintaining profitability through rigorous control over margins is key to not only staying competitive in the F&B industry, but also to setting restaurants up for the future,” it said in a statement on Wednesday.
CloudCFO is a cloud accounting platform that seeks to deliver real-time financial data to help fast-track business operations. It focuses on payroll, tax compliance, and financial consultancy.
“As an outsourcing provider specializing in accounting, bookkeeping, and finance services, CloudCFO offers customized, technology-driven solutions, enhancing the financial operations and strategic decision-making of startups and SMEs (small and medium enterprises),” it said.
CloudCFO conducts an in-depth assessment of a company’s business model and its current practices to help tailor-fit its bookkeeping services.
“For restaurants, the review covers various internal controls such as POS systems, reconciliation of multi-channel payments, inventory management, and regulatory compliance.”
The company has developed “proprietary technology” specific to a company’s needs to help easily identify opportunities and challenges in the restaurant’s finances.
It also helps restaurants track costs and inventory, as well as customer transactions regardless of the payment channel. — Beatriz Marie D. Cruz
