More than 20 Ways Technology and Automation Solutions Can Help Restaurants Thrive

More than 20 Ways Technology and Automation Solutions Can Help Restaurants Thrive

From enhancing customer experience to streamlining operations, technology has become a competitive game-changer. Here are more than 20 ways technology, software and apps are promoting productivity, saving money, or improving service in the restaurant sector.

  1. Automated invoicing and inventory systems connect with your POS and supplier systems to better manage food and beverage costs.
  2. Contactless payment enables diners to tap their contactless cards or smartphones on a payment terminal to pay without cash or a PIN.
  3. Delivery apps enable customers to place and pay for their orders and delivery via their mobile devices. There are also solutions that enable you to integrate orders coming from multiple apps to better manage the process.
  4. Digital menus with augmented reality allow customers to see potential food choices in 3D before placing their order.
  5. Digital menu boards are visually attractive electronic screens that can be used to display and easily update special offers, menu items, prices, events, and more.
  6. Event software helps you manage parties, weddings, special events, and more with documentation tracking, communication tools, and reports.
  7. Inventory management solutions help track stock and automate ordering to control costs, reduce waste, and ensure you have what’s needed to deliver on your menu. Some are even tailored specifically for bars.
  8. Kitchen display systems replace paper orders with online ones to facilitate smoother, more accurate, and timely food prep.
  9. Online order systems let customers place orders directly from a restaurant website or via a third-party app.
  10. Point of Sale or POS systems serve as a command center where numerous functions come together to help you manage a variety of tasks from order taking and processing to sales monitoring and payment processing.
  11. QR code menu allows you to create a QR code, and place it on tables. Customers scan them to see the menu, place orders, and make payments via their own mobile devices.
  12. Reservation systems allow customers to make reservations online and restaurants better manage seating arrangements and wait times. There are even solutions that sell tickets for seating to minimize no-shows and last-minute cancellations.
  13. Rewards programs, whether as a stand-alone or integrated with another system, allow you to reward customers with special offers, discounts, and other perks to build loyalty.
  14. Robot assistants help kitchen staff by performing repetitive tasks like chopping and stirring.
  15. Scheduling software to help you schedule employees, as well as track and manage labor costs.
  16. Self-order kiosks enable customers to place orders using a touchscreen.
  17. Supplier management solutions simplify all of the activities that go into overseeing multiple vendors.
  18. Waste management software and apps can help with sustainability efforts by helping you reduce the use of non-eco-friendly materials while directing where you can send leftovers.
  19. Waitlist app helps manage waitlists and improve customer communications during busy times.
  20. Wearable tech devices facilitate communication between customers, staff, and managers, promoting greater responsiveness when a customer needs something.
  21. Website builder programs specifically tailored for restaurants enable you to showcase your menu, and hours of service, accept online orders, and more.

That’s just a sampling. Before embarking on a tech shopping spree, you may want to consider how technology fits into your overall business strategy so your investments make the greatest impact.

To free you up to focus on your business, we want to remind you that you can always count on RBT CPAs for accounting, audit, tax, and advisory services. Give us a call to see how we can be Remarkably Better Together.

 

RBT CPAs never offshore work outside of the U.S. so you always know who is handling your financial information.

Estate Plans: Who Needs One and What It Entails

Estate Plans: Who Needs One and What It Entails

Some sources say anyone with assets needs an estate plan, while others indicate it only delivers value to the wealthy. The truth is it’s not that simple and depends on each individual’s unique situation, as well as tax laws and legal processes in the state where you reside.

To start the discussion, it’s important to clarify the difference between a will and an estate plan. A will defines how certain financial affairs will be handled upon your death. An estate plan defines how your financial affairs, healthcare decisions, and legal concerns will be handled while you are alive and after your passing. Put simply: a will is one part of an estate plan.

While net worth is one factor that prompts the need for an estate plan, there are others like whether you have a business; a succession plan; a family; a blended family; young children; a dependent with special needs; others dependent on you for care and/or support (i.e., parents or siblings); a health condition that may require long-term nursing or in-home care (or you want protection just in case); concerns about family infighting or external challenges to your will; concerns about an heir’s ability to manage money; philanthropic goals; and more.

In essence, a comprehensive estate plan can help you understand the risks and opportunities related to your unique situation and plan accordingly. The goal is to help ensure your wishes – in life and upon death – are carried out so the people and causes you care about are taken care of in the manner you desire, and tax exposure is minimized.

Consider it an investment in your peace of mind. Documentation and guidance will be in place so, when the time comes, those who will be taking care of your affairs will have a clear roadmap to carry out your wishes.

So, what does estate planning entail? At RBT CPAs, our Trust, Estate & Gift professionals take the time to learn your goals and wishes based on your unique situation. We help you understand your options and their implications. We can point you to legal resources to draw up required documents and we review those documents to ensure they accurately reflect and align with your wishes while keeping an eye on the tax consequences.

It can take several months to complete an estate plan, execute related documents, and complete corresponding actions.  The time and resources you invest in a plan now can save time, money, and distress later.

If you do not have a will, state laws dictate what happens to your assets. Even if you have a will, upon your passing, your estate will go through probate – a legal process for settling an estate – prior to assets being distributed to beneficiaries.

Probate usually takes anywhere from 1 to 2 years to file the initial petition, gather assets, pay taxes and debts, pay administrative costs, finalize matters with the court, and distribute the estate balance. Contentious estates may take considerably longer to settle.  With certain estate planning moves, probate may be avoided altogether.

Once you have an estate plan, it’s a good idea to review it annually to ensure it reflects any changes in your situation and tax laws. (If you decide a will alone will suffice for your situation, we still encourage you to review it annually.)

 

To learn more about RBT CPAs estate planning services or to schedule a consultation, email irahilly@rbtcpas.com or call 845-567-9000 and ask for Ita. You’ll see why you and RBT CPAs can be Remarkably Better Together. RBT CPAs is also available to handle your accounting, tax, audit, and business advisory needs. Give us a call today.

RBT CPAs is proud to say 100% of its work is prepared in America. Our company does not offshore work, so you always know who is handling your confidential financial data.

Prevailing Wage and The 50-Mile Radius Provision: An Overview

Prevailing Wage and The 50-Mile Radius Provision: An Overview

If you bid on or provide services for a public works project, you need to be aware of how prevailing wage and an amendment related to the hauling of aggregate supply construction materials (a.k.a. the 50-mile radius provision) may impact your business effective July 1.

Prevailing Wage

New York’s labor law requires contractors and subcontractors to pay prevailing wage for employees working on a public works project, based on the locality where the work is performed. Public works include construction, maintenance, and improvement projects funded and executed by a federal, state, or local government.

The NYS DOL sets the prevailing wage based on hourly wage and fringe benefit data for similar jobs and distinct job classifications in a region. It equals the sum of a base hourly wage rate plus a fringe benefit rate. 2024 prevailing wage schedules by county for general and residential projects were released July 1 and can be found here.

Prevailing wage applies regardless of union status, although it is usually equivalent to union wages and benefits.

The New 50-Mile Radius Provision Effective July 1

New York’s 50-mile radius provision of 12 NYCRR 222.2(c) took effect July 1. Contractors and subcontractors must factor this into their labor costs on all public works projects solicited on or after July 1.

Of particular note is an amendment related to the hauling of aggregate supply construction materials. The amended rule reads:  “Prevailing wage shall be paid for work performed on a public works worksite pursuant to this section for any work involving the delivery to and hauling from such worksites of aggregate supply construction materials, as well as any return hauls, whether empty or loaded and any time spent loading/unloading.”

Visit the NYS DOL website and scroll down to “Hauling of Aggregate Supply Construction Materials” for more information. Please note that RBT CPAs is not a law firm. We are sharing this information to ensure you are aware that the provision took effect on July 1. Additional guidance is supposed to be forthcoming. In the meantime, if you have any questions or need direction or advice, we strongly suggest you contact your legal counsel.

On a Related Note…

During the New York legislative session that had just ended, a new bill was introduced regarding prevailing wage and the delivery and supply of construction materials. It would expand existing prevailing wage requirements in Nassau, Suffolk, and Westchester counties to include the delivery and supply of concrete and asphalt, and would take effect immediately upon its passage. While the legislative session ended with the bill in the Senate’s Committee Assembly, we just want to make sure you’re aware of it in case it moves forward in the future.

As you focus on the many aspects of running a successful business, including compliance,  remember that RBT CPAs is always here to support your accounting, advisory, audit, and tax needs. Contact us any time to learn how we can be Remarkably Better Together.

 

Please note: RBT CPAs is not a law firm and this article is for informational purposes only. Should you need legal advice, contact your legal counsel.

RBT CPAs is proud to say 100% of its work is prepared in America. Our company does not offshore work, so you always know who is handling your confidential financial information.

A New Cyber Risk Every Manufacturing Business Needs to Be Prepared For

A New Cyber Risk Every Manufacturing Business Needs to Be Prepared For

While we have become accustomed to hearing about ransomware attacks where systems are shut down and/or data is held for ransom, there’s another risk to account for in your business continuity/crisis management plan, especially in today’s connected environment: when a software solutions provider is attacked and its system is shut down.

Imagine going to work and turning on your computer only to find the software you subscribe to for sales, customer service, inventory, and accounts receivables and payables is not available. You receive word that your software solutions provider is the victim of a cyberattack and working to get systems up and running, but it may take days or weeks. This is when you convene your crisis management team and execute your business continuity plan.

Here are a few special considerations specifically related to a situation where a software solutions provider has been attacked and systems that you subscribe to are temporarily unavailable:

  • Immediately contact cyber and business continuity insurance providers for guidance and resources, as well as an understanding of whether an event is covered and what would be needed to file a claim. (Some policies only provide coverage if there’s a data breach and personally identified information is compromised.)
  • Be prepared to temporarily return to manual, paper processes for critical activities like orders, inventory, bookkeeping, accounts receivables and payables, and more.
  • Be prepared to train staff on manual paper processes and interim solutions.
  • Know which staffing agency you can call should you require additional resources.
  • Keep customer contact information easily accessible as you’ll want to alert them to how they may be affected and when resolution is expected.
  • Review software provider contracts and understand their parameters for business continuity and claims.
  • Be prepared to meticulously document the financial impact, including lost revenue, increased expenses incurred to manage losses, and payroll increases for overtime or temporary staff.
  • Have a list of resources you can use to help keep critical business processes (like accounting) running.

With manufacturing businesses being the second most popular target of ransomware attacks in 2023 (healthcare was number 1), it’s good practice to review and update your business continuity and crisis management plans at least annually – be sure to account for new threats like when a software solutions provider goes down.

As always, you should be up to date on New York laws governing your responsibilities. Also, if you’re looking for ways to bolster your response plans, CISA offers a free resource, called Business Continuity in a Box, to help businesses swiftly get critical functions back up during or following a cyber incident.

As you focus on developing or updating your business continuity and crisis management plan, remember that RBT CPAs is always here to support your accounting, advisory, audit, and tax needs. Contact us any time to learn how we can be Remarkably Better Together.

 

RBT CPAs is proud to say 100% of its work is prepared in America. Our company does not offshore work, so you always know who is handling your confidential financial information.

What’s Next for EMS in New York?

What’s Next for EMS in New York?

New York State appears to be stepping up to get a grasp on the EMS crisis and plotting a potential course for what’s next.

Across the nation, EMS is in crisis. Response times are longer. More workers are leaving the field than entering it, with mental health and burnout to blame. Costs are up and funding is dwindling. Pay is on par with fast food restaurants (although many rural areas depend largely on volunteers). The public, in general, doesn’t realize EMS is not funded the same way as the local police but still counts on municipalities to ensure services are in place should they need them.

It’s a national problem that many say is due to an approach established 50 years ago that no longer works. Back then, emergency services were paid by an individual’s insurance. Today, Medicare only reimburses for transportation. So, if EMS goes to a home and resolves an issue without having to transport a patient to the hospital, there’s no federal reimbursement.

In January, the New York Association of Counties (NYSAC) acknowledged counties are being asked to help shore up resources, but local laws and other issues are exasperating the challenge. Still, NYSAC presented  proposals and legislation to address the issue. (By the end of the legislative session, one bill made it through both chambers, awaiting the Governor’s signature. It calls for ambulance services to be reimbursed by Medicaid when treatment in place is administered and/or when transportation is provided to a health care setting other than a general hospital.)

In March, New York State Comptroller Thomas P DiNapoli issued a report on “The Growing Role of Counties in Emergency Medical Services.” It discusses the variety of ways EMS is provided and funded in New York, and how a lack of data makes it difficult to assess what’s needed. It also points to counties playing a more active role in assessing and supplementing EMS services, as well as the need for greater State involvement.

According to the report, there were 989 agencies providing EMS in New York, with almost 64% classified as corporations and the majority being non-profit. The remaining 36% were owned by local governments, including 162 owned by fire districts.

Less than 20% rely solely on paid staff; about 50% rely solely on volunteers; and the balance work with a combination of the two. However, when it comes to city and county EMS agencies, most have paid staff like private for-profit EMS agencies. Some EMS staff also serve as firefighters.

In New York, patients are treated and transported regardless of ability to pay or coverage. Many agencies cover expenses by billing for services. At times, property taxes and other sources help with funding, as does fundraising by volunteer fire departments.

The report refers to the State Emergency Medical Services Council’s State EMS Sustainability Technical Advisory Group pointing out that most reimbursement is for transportation services, not medical services. Inadequate federal reimbursement rates and uncompensated care are issues. They also highlight a surge in county involvement with backup or mutual aid to meet residents’ needs.

The report concludes, “The current circumstances call for direct State involvement to support the efforts of counties and other local governments to turn fragmented and ad hoc responses into comprehensive solutions. While Regional EMS Councils and local government providers should conduct regular needs assessments, solutions need to start at the State level and include better statewide data collection, management and analysis to help EMS agencies identify where services are falling short and provide options for improving response times and outcomes. Better centralized guidance from the State about funding sources can help local officials make more informed decisions about how to pay for these services.”

It sounds like there’s more to come. As your municipality continues standing up to the many challenges associated with meeting residents’ needs, you can count on RBT CPAs for accounting, audit, tax, and advisory services. Why not give RBT CPAs a call to see how we can be Remarkably Better Together!

 

RBT CPAs never offshores work outside of the U.S. so you always know who is handling your financial information.