ProfitRover is in business to help your business thrive. Our algorithms identify opportunities to drive higher profitability, either through increasing revenues or managing costs, across multiple aspects of your business:
Staffing
Lower your staffing costs 10-20% by eliminating overstaffing, drive higher tips per employee, and improve customer experience
Why It Matters: Effective staffing is critical for driving:
- Satisfied Customers
- Happier Employees
- Efficient Cost Management
How It Works: We leverage our best-in-class forecasting capabilities to predict your hourly revenue, sales & tips to help plan out your staffing. Our goal is to ensure your staffing plan is metrics-driven and cost efficient.
ProfitRover Delivers:
- Shift Recommendations: shift-level staffing recommendations for the next 28 days that are based on your expected hourly customer spend, which are updated daily as our forecasts evolve. We show you how our staffing recommendation helps optimize key metrics like revenue per employee hour.
- Shift Planning Tools: ability to create your own staffing plans and see the anticipated impact on your key metrics
- Flexible Controls: We give you key controls to ensure our recommendations align with the intricacies of your business
Pricing
Increase your revenues anywhere from 5-15% through smarter pricing, while also ensuring you’re hitting your volume targets.
Why It Matters: Establishing the right pricing enables:
- Higher Revenues / Margins
- Achieving Desired Growth
- Attracting Ideal Customers
How It Works: We study your historical transactions data to understand how customers react to price changes for each of your products, and can even estimate how customers would react to a price change for products whose price has never been adjusted.
ProfitRover Delivers:
- Price Recommendations: We recommend prices to you for each of your products that help to maximize your overall revenue, whether that’s dropping price to drive more demand or increasing price to drive margin.
- Pricing Planning Tool: Experiment with changing your prices and see predicted impacts on sales and revenue so that you can build pricing strategies that make sense for your business.
- Flexible Controls: Set your desired pricing structure (e.g., pricing by day of week, by month, quarter) to get pricing recommendations that fit your business
Operating Hours
Increase your revenue per hour 5-10% through data-driven hours of operation
Why It Matters: Regularly revisiting your operating hours:
- Promotes Capitalizing on Peak Periods
- Avoids Overspending During Off-Peak Periods
- Ensures You’re Aware of Shifting Demand Trends
How It Works: We leverage our best-in-class forecasting capabilities to predict which hours will perform the best in the weeks and months ahead. Our goal is to ensure your operating hours are optimized to capitalize on predicted peak periods while avoiding being open during off-peak periods if possible.
ProfitRover Delivers:
- Operating Hours Recommendations: open/close recommendations by location and day of week for the weeks and months ahead based on which periods are expected to outperform user-defined hourly revenue targets
- Planning Tools: ability to test your operating hour changes and see the anticipated impact on your key metrics like revenue per open hour
- Flexible Controls: We give you key controls to ensure our recommendations meet your needs
Product Segmentation
Streamline your operations and decrease your offerings by up to 80% by identifying those which are not driving meaningful value to your business
Why It Matters: Segmenting your products & offerings:
- Drives focus on your top performers
- Promotes efficiency by highlighting which products & offerings could be eliminated without materially impacting your business
How It Works: We leverage our best-in-class forecasting capabilities to predict which products & offerings will drive the most to your top & bottom lines in the weeks and months ahead. We then segment your products into performance-based categories to help you quickly understand which offerings are expected to be your top, middle, and bottom performers.
ProfitRover Delivers:
- Segmented Products & Offerings: we group your products into top, mid, and bottom tiers based on forecasted contributions to your top & bottom lines
- Key Metrics: we tell you how much revenue and profit we expect each of your products to generate, as well as how much is at risk due to potential stock-outs
- Flexible Controls: you control thresholds for how the products are segmented to best suit your needs and goals
Inventory
Reduce your carrying costs and minimize likelihood of stock-outs by leveraging our forecasts to drive inventory and ordering decisions
Why It Matters: Leveraging sales forecasts to drive your inventory decisions:
- Reduces the likelihood of stock-outs and lost revenue
- Highlights which products are overstocked so corrective actions can be taken
How It Works: We utilize our forecasting capabilities to predict future sales and estimate when current inventory levels will be depleted for each of your products. We then recommend reorder quantities to reduce the likelihood of future stock-outs.
ProfitRover Delivers:
- Forecasted Sales: we predict future sales for each of your products over different time horizons
- Predicted Stock-out Dates: we estimate when your current inventories will be depleted for each of your products to give you a sense of restocking priority.
- Recommended Order Quantities: we recommend order quantities intended to ensure you don’t run out of inventory.
- Revenue at Risk: we quantify how much revenue you may miss out on if you do not manage inventories effectively.
Forecasting
Increase your gross margins 5-10% over the long term through better visibility into your future performance
Why It Matters: Accurate forecasting promotes:
- Recognizing New Trends
- Informed Operational Decisions
- Smarter Long Range Planning
How It Works: We leverage your historical transactions and external market data (including factors like weather, holidays, and special events) to study what drives sales for each of your products so we can predict future sales with great accuracy.
ProfitRover Delivers:
- Granular Forecasts: We provide hourly forecasts for tips and product-level sales and revenue so you are fully prepared for the coming days and weeks
- Pacing Estimates: We combine past sales with our forecasts to predict how your revenue, sales & tips are trending for the current month, quarter and year
- Flexible Controls: We give you key controls to ensure our forecasts meet your needs
Ready to see what ProfitRover can do for your business?
Get started today!