B2B food and beverage payment solution iControl is partnering with MarginEdge, a restaurant management software solution, to help solve the problems restaurants face when purchasing and serving alcohol.
In a press release Saturday (Sept. 24), MarginEdge CEO Bo Davis said some of the difficulties restaurants face for alcohol vendor payments include balancing regulations, having cash on-hand and cutting down the risk of theft.
MarginEdge already integrates with dozens of point of sale (POS) systems and offers tools to manage daily controllable profit and loss and sales data, according to the release. It also integrates with accounting systems and makes sure there’s an automatic flow of data from invoices, credits and payments.
Additionally, it offers robust performance reporting for things like theoretical food usage and menu analysis, which can help identify profit leaks and fight against rising costs. Meanwhile, iControl’s services help restaurants remain compliant and also digitizes their payments.
By using iControl’s electronic payment capabilities, MarginEdge clients will be able to access a way to make alcohol payments, access scan-based trading and get more POS data from a syndicated database of on-premises alcoholic beverages.
“Our restaurant clients — still reeling from COVID-19 — now face a rising inflationary environment, staffing shortages, and supply chain issues,” said Don Voss, chief revenue officer at iControl. “We’re excited to bring our restaurant clients a truly holistic, full suite of tools to better manage their back-of-house operations, tackling rising costs and gaining crucial time back thanks to MarginEdge’s data reporting and automation.”
MarginEdge also recently partnered with SpotOn, a restaurant software and payment provider, in order to work on inventory management.
Read more: Restaurant Tech Provider SpotOn Partners With MarginEdge to Offer Inventory Management
SpotOn focuses on providing software and payments tech for smaller companies, particularly restaurants, to help with taking payments, optimizing schedules and other such things, and the partnership was intended to help SpotOn make more restaurant tech.
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