In today's episode, Jamie Nau, our host and Director of Accounting, sits down with Adam Hale, Partner at Anders CPAs + Advisors, and Bo Davis, Co-founder and CEO of MarginEdge to talk about what the restaurant industry looks like today. He will also deep dive into the revolutionary solution they built that has helped restaurant businesses to streamline data and automate insights—influencing decision-makers in the industry by saving costs and increasing efficiency.
"I think the heart of it is (that) there's a lot of value in automation so that you can provide value-added and not have to deal with typing in sales entries everyday or the minutiae that comes with this" - Bo Davis
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How Technology and Insights Impact a Restaurant's Success with Bo Davis
Jamie Nau: Hello everybody. Welcome to today's show. Once again, very excited about our guest as always for, before we get to our guest, we are joined by Adam ha so welcome to the show again, Adam Hale.
Adam Hale: How's it going, everybody?
Jamie: It's good. Joining Adam, we have our guest from Margin Edge. His name is Bo Davis, and we are going to talk about tools for restaurants. So Bo, I don't wanna do your introduction for you. So why don't you talk a little bit about your background and kind of how you created this tool and what your expertise is.
Bo Davis: Sure. Thanks. And thanks for the invitation, Jamie and Adam. I'm glad to be here. So my background in brief is I've been around for a minute. So, I started in software in the 1990s and then sold a company. And then in 2005, I got the wise idea to go into the restaurant business, thinking, “how hard can that be?”
Right? Oops. And so I opened my first place in 2005 in Washington, DC. Having never worked in a restaurant in my life, it sounds like a bad joke. Actually. It was a banker, a lawyer, and a tech guy. We're like, “oh, we'll open our restaurant. Come on. It'll be great. Those guy's print money.”
So, we opened in 2005, and over the next 10 years, I went on to open a dozen restaurants all over the country and made every mistake you can make and learned a few things here and there in the process.
But, the big takeaway for me, I also had gotten a master's in finance before this. And the big takeaway for me from the restaurant business was just how hard it was to do the accounting, how hard it was to do the books, how hard it was, not the technical getting information into an accounting system, but the real time nature of it, you know, variable sales, every day.
Your top-line sales, you don't know what they're gonna be tomorrow. You’ve got spoilable product that you gotta keep inventory on. So you got tight cogs. You're trying to run against a variable product, and you've got variable labor that you're scheduling right ahead. So you're trying to schedule that labor, schedule the cogs.
You got 70% of your costs moving, while your top line is moving. And you're aiming for this thin 10%, you know, 20% fixed and then a 10% profit margin. And it's rough. I mean, even with a degree in finance and a technology background, it was hard. And so, 10 years into that, I got together with a partner from the Outback group from a much bigger restaurant group and we decided to try and help solve the problem.
So we started Margin Edge as a software company that basically captures all of the invoice data in the restaurant. Take a picture of the invoice, we capture that, and we tie into the point-of-sale systems. We get, every day, the sales data from the point-of-sale system. We're now integrated into 62 types of point-of-sale systems.
We integrate to the accounting system on the back end, right? So we've got 15 accounting systems we connect to. Most small businesses are on QuickBooks, but we support 15 of the systems. At this point, to jump ahead, we've got 400 people processing 60,000 invoices a week.
So basically, restaurants are getting this live data feed, and it's not “how much did I spend on food? How much should I spend on beer? How much did I spend on chemicals?”
It's “how much did I spend on avocados? How many pounds of chicken did I buy?” We're taking the line-item date off those invoices and feeding it back to the restaurants. And then, the software provides a bunch of other tools.
Obviously it does inventory management, recipe management, but at the heart of it, it really is to help. We have a lot of accounting firms and bookkeepers as our clients. It's to help them get that process faster. Don't wait till the end of the week, end of the period, end of the month to collect a stack of invoices, to put them into an accounting system, to get a financial report, two weeks later. Get that in front of people daily so they can make decisions live.
Adam: Great. Wow. Here, I thought we were gonna be talking about sporks whenever you said tools for restaurants.
Bo: I have sushi joints, so I can talk about conveyor belts, sushi robots, chopsticks, that sort of stuff if you want.
Adam: Oh, yeah. Well, if we have enough time it's on the table.
Jamie: We could do a whole podcast on sporks. I'm sure that'd be a fun
Bo: That's over my head.
Adam: That's pretty cool. I definitely wanna dive into it a little bit. I've worked with several restaurants. A lot of times, the more sophisticated ones being the franchises, just because they're required to have a little bit heavier-duty POS system, they work with some more national vendors in terms of some of that food detail.
And the way we always did it was exactly what you said. You know, “plug and chug” end of the week; you'd get your invoices from the food vendor, you'd plug them all in. You'd try to itemize them as much as possible. You'd get an inventory count at the end of the week, or often end of the month from the manager, and then the manager was always ready to roll up their sleeves and wrestle with you over their contribution margin because that's what they’re bonused on, right?
So they were always ready to argue about your payroll, accrual. You know, they have all their payroll reports out. They'd have all their food bills out, and they're like, “I totaled up to this.”
Bo: Inventory is a tricky one. Right? Because the cost of the inventory items are changing. And so, trying to capture that down at that line item is tough.
That's a big part of trying to get it. I think a lot of people don't realize the food-cost variable for restaurants is so tight. My restaurants were in a 25% food cost, and I tell people one of the things that I think is not obvious is, I don't know how much money we spend on food in any given period.
Like, I don't care if it's 50,000 or 60,000 or 70,000, but I really care if it's 25%; if it's 25.5, it's a problem. Right?
But I don't know the dollar amount because the revenues are all over the map. I've got seasonality, I've got weekends and days, and everything is changing. Getting those numbers dialed to the right of a decimal point matters for restaurants. And it's not; it's not easy.
Jamie: Well, especially when you, it sounds like you're working with smaller chains. So you know, again, my background, actually, the first 10 years of my career, I was working exclusively with restaurants as an auditor. So, I worked with a lot of very large restaurants in Einstein Bagels and Boston Market.
So some large restaurants. So when you have 150 restaurants, you have a little bit of a leeway there; whereas, when one restaurant's an over performer and the rest is an underperformer, ok, but when you have three or four, it's a lot different. So talk a bit about that.
Bo: The systems you can afford to put in place are radically different, right? For sure you have that scale. Our client bases between one and 50 units, but it skews low. So it's like three, three or four units on average. We have a lot of local, independent restaurant groups, a lot of single units, and it's really very much for that purpose. So it's that easy.
Jamie: Yeah, definitely.
Adam: So how granular do you have to get from, and who's putting this detail in? Is it the managers, is it the accounting firm? Because obviously, I know from a point-of-sales perspective, they have their own analytics, and they have all of, what it should be, but obviously it's not up against what your actual expenses are and everything.
So what I heard you say earlier was that somebody's feeding this data in real time. How does that work on that bill side?
Bo: You nailed it. The point-of-sales system, you're right, is capturing all the sales data. And so that tells you what you should have sold.
How many potatoes, how many French fries did you sell? Right. And then, what we have is a pretty robust process that starts with an image of the invoice where they take a picture of it. Or, if they have a big or some of the bigger vendors, we do electronic feeds. So we get about 25% of our data electronically, 75% pictures on a phone..
They take a picture in our app that goes through the sort of machine learning and OCR and that fancy stuff. And we extract as much as we can, but then we have humans review it because in the restaurant business, well, first of all, we get so many kinds of invoices that you can't automate the reading of it.
And the second thing is, like 15% of the invoices have handwriting on it. Right? So when you get a delivery from your produce company, they'll scratch through the tomatoes and be like, Nope, not on the truck. Tomatoes were broken, the tuna was bad, whatever. They'll mark it up, so we have humans look at it, too.
So we're up to 400 people that are doing reviews of those in a very systematic process. And so we operate seven days a week. Like I said, 60,000 invoices last week. So we've gotten pretty good at it. We've been doing it for seven years. But there's definitely a human component to it.
And then basically what happens is, that ingests the data of what you bought and then we've got what you sold from the point-of-sale system. There are reports that your accountant or your manager or whatever can look at to check things if they want. But basically, we do an actual versus theoretical at that point.
So we know how many potatoes did you buy? We've got your recipe for French fries, and we know how many French fries you sold from your point of sale. So we can say, you bought 20 pounds of potatoes, but you only sold 18 pounds.
There should be two pounds left over there. And if there's only one pound, then either, you know, they're getting wasted in how they're being broken down or they're being stolen or the portions are being oversized and, then you gotta do some work.
You gotta dig in yourself and figure out which of those it is, but at least we can narrow it down to ingredients and scale.
Jamie: So. When they first start working with you, I imagine that those variances are a lot higher, right? So they're seeing, it might be potatoes, tomatoes, and tuna, all three of them, you're seeing the variances in. Then, they start to do some analysis, and it kind of gets down to, instead of it being every week, we're dealing with a ton of variances after we're working with you for six, seven months.
It's like, okay, now there's just, occasionally we'll see a variance that we gotta dig into because a new employee started or something like that. Is that kind of what you typically see?
Bo: Yeah. I mean, the reality is, there's always some variance, right? There's always noise because it's a difficult business, and there's gonna be some waste at the end of the day.
And so it's really about what level of variance you're okay with, and then you basically start at the top, right? So one of our first clients is a seafood place that does a ton of business in DC. When we first built the system, he was our first test and he had a dish that was a sea bass entree.
His recipe at first was just like, how many ounces of sea bass? Eight ounces of sea bass. We put it in, and he was like 40% over the yield; the waste was like 40%. That means he's losing money on every dish he's selling at sea bass. And so he is freaking out and he goes in, he's like, “somebody's stealing, what's happening?”
He goes in and they look, and it's like, it's just the guy that's cutting. The fish has been there for 10 years and he stopped weighing five years ago. Right. And he gradual cut it a little bit bigger cause nobody ever complains if it's too big and 40%, isn't that easy to notice. Right.
It's two and a half ounces. Right. Good luck, eye eyeballing that. And literally, he could bring that back down. He literally bought a scale, put it in front of the person and you weigh the sea bass and boom. So, you know, sometimes it's fun and easy like that. Other times, if you're at an Italian place and it's tomatoes that you have variance on, you have to work to figure out where you're wasting your tomatoes.
Yeah. So there's definitely the range. I mean, the main thing is knowing where the problems are, and then you just start trying to take it apart.
Adam: So really the reconciliation, if you will, then is the inventory check, right? So you're saying “sales said you did this. Bills said you did that.”
And really what you're reconciling is, this is how much you should have left based on those two. And then, you just have to validate that. Do clients usually do that? Like once a week?
Bo: Yeah, I would say probably half of our clients don't do that. So half of our clients do a much simpler thing, which is just much less sophisticated and a lot easier. And that is, they send the invoices every day.
Our invoices break down the ingredients, and we'll put them in the categories, right? So your proteins, your produce, your whatever, whatever, and they'll have just a percentage for those. So, my beer cost should be 20%. And so we're running all your purchases against your beer sales. And, you can just watch it daily, without any sophistication, just what percent of my purchasing is matching my sales. And if you start to see that vary out of the 20%, then you can start getting involved and that's. just easy, right?
That's just straight math. And, the only difference between that and what you would've gotten on a P and L is that you're getting it in real time.
You come in in the morning and you know what happened yesterday and that really matters, right? Because you can have a lot of alcohol walk out the door in a four-week period until you get a financial report. So I'd say about half of our clients do that. Half of our clients do some level of inventorying and then getting down to that sort of recipe,and breaking it down into that level of detail. I lost your question though. I answered a different question.
Adam: No, that was it. So, basically you're saying, yeah, that's cool. But most people just kind of “law of average” it. Yeah. And are just kind of, well that's right. Cause you said dialing it on the inventory.
Bo: Right. And so, if you look at a period of time, so if you assume, I mean, you know this, but for listeners, you assume if your inventory stays roughly the same, like every Sunday night, you've got roughly the same amount of stuff on hand, then actually just watching your purchasing over a few weeks will tell you right where you are.
If you've got wild deltas in inventory, cause you're buying like, you know, you got a $200,000 wine lobby/basement, right? And so you have wide variances. That could be different, but, but in a lot of things, particularly like fast, casual places where keep the same amount on hand, you have a par that's pretty standard day to day, and watching your purchasing will help you dial it in pretty easily. Operators are all over the map and how sophisticated they want to get in this for sure.
Jamie: So how much consulting do you do with the rollout of your software? So it sounds like, again, obviously there's stuff that you could learn from working with all the other restaurants that maybe you could get people to that point a little quicker where they're catching those easy variances; how much consulting do you do with the rollout?
Bo: So we do a fair amount through onboarding to try and get people sort of aware of what all the options are. Most clients, as you might imagine, I think of it like a pyramid, most clients start at the bottom with the easiest stuff and then gradually graduate up. And so we sort of let them know through onboarding what's available.
And then we provide a lot of training. There's 12 classes per week that are free, one-hour live classes that are on different subjects. Cause there's a lot that we haven't unpacked yet. There's bill pay management. We help you pay your bills. We help you manage if prices jump out of variance, looking at how you're doing against different vendors; there's a bunch of analytics inside of the tools.
And so we provide classes on those things and encourage people to take them. We don't really do anything that you would call truly consultative where it's sort of one on one. That's not true. Actually, we've added a couple of people on our team that do that. So we have two people that do it. They tend to do it for the bigger restaurant groups though, just because of scale. We have 3000 restaurants and there's always so much you can do on that level. That makes sense. But the goal is really to make the user interface so easy that you don't need the consultation so that it's driving you towards the most obvious things. And then getting you most of the way there.
Adam: Yeah, that's always the goal, but that's why they probably need the accountant still.
Bo: Kinda to be clear, we're not an accountant replacement and we don't try to be in. We don't say we are right. We don't do bank reconciliations. We don't run payroll. We don't do, you know, we don't do any of the tax stuff.
We don't do sales tax filings. There's a ton of stuff that bookkeepers and CPAs do that we provide. We consider ourselves assistance to that. So some of our very best clients are bookkeeping firms and accounting firms. We work with probably two dozen firms, and, for us, that's ideal because then you've got somebody who really understands accounting.
They're using your tool. The restaurant then is focused on the operations and operational aspects of the tool and it's definitely maximized. So yeah, we're not trying to be.
Adam: Gotcha. Yeah, cuz I mean, I think so a couple things coming to mind too is, you know, you're talking about integration back into the accounting system.
You're focusing solely on product costs. Is that right?
Bo: I would word it slightly different. We're focused solely on controllable. So what you mentioned about the manager's bonus, right? We're focused on beer, wine, liquor, operating expenses, cleaning supplies, like all sorts of stuff inside of that.
But basically where the manager makes a decision on spend. We're not touching depreciation. We're not touching insurance. We're not touching any of the leases.
Adam: But not touching payroll?
Bo: we integrate with payroll systems to just display data. So we don't do payroll, but we will put it on the forms because the percentage spend on payroll is so relevant. It's your controllable cost primarily, or your direct operating expenses and your labor. So we do have that on the dashboards, but we're not involved in it in any way.
Adam: Trying to pull that from the POS?
Bo: Or Seven Shifts. So some of the tools that are out there that companies are starting to use outside time tracking. Time-tracking tools outside of the point of sale. But yeah, basically we're just a dashboard for that.
Jamie: I’m starting to think of this as an accountant. So, if I'm an accountant that's working on a restaurant and they've installed this tool, what type of reporting can I get around some of the trend analysis? So if I know that during the summer, we're having to purchase much more avocados than we are during the winter, or whatever the trends are, what kind of reporting can I get and how will that work with me for my forecasting?
Bo: It's quite deep. You get data down to the item level of what's purchased historically and on the recipe level. So not only will we tell you when avocado prices bounce around and what they've done historically, we'll show you the impact per recipe item.
So in a sushi place, you may or may not be aware, we use avocados a ton, right? We have avocados all over the place in a ton of roles. So we can literally see the impact of avocado on a California roll versus the salmon avocado roll versus whatever. And so, whether it's chicken or tuna, whatever it is you wanna look at, you can break it down.
We do the menu analysis piece, too. So your clients could go in and say, I've got a top mover in this item, but it's low profit margin, or I've got this thing; it's high profit margin, but I don't sell any of them. And so they can do some menu analysis in the system as well.
For the accountant, the most important thing though, I think, is that it basically takes away the sort of standard tension between the operation and the accounting firm about getting data in and just having it reviewed and in the accounting system. Right. Because, you know, to the point, Adam, you made earlier about you would provide a financial report and then wrestle with the manager about what the costs were.
Inevitably an invoice is missing, right? Inevitably there's like there's this hole in the system that didn't happen. And what this does is just shrink the time window. So, if there are produce invoices every day, and Tuesday there isn't one, you know Wednesday, right? If you're buying from Cisco, we're getting an auto data feed of all of your Cisco invoices.
They never get lost. It shrinks the window. So the accountant can see that stuff, can close out books, provide robust accounting, and not have to be doing the data entry of these invoices, but really manage the part that matters.
Adam: The restaurant manager’s the one taking the pictures, right? So that's all going through them. And then how does that integrate back into the accounting system? Because a lot of times, they're on seven-day turns or whatever. So, I imagine the entire order value comes in.
Bo: Yes, it's next day. And, so in our system, we're breaking down by item level, but in the accounting system, we're sending it by GL code.
So, you know, different restaurants have different charts of accounts. And so based on whatever your chart of accounts is when you connect, you could have a food bucket where you could have highly granular chart of accounts. And, so we send it over by that and it's 24 hours, so you'll have it the next day to pay the bills.
We also have the full bill pay suite, so you can actually manage the bills and margin edge as well and pay them. And we're moving toward another step of vendor reconciliation. Right? So for those invoices that are missing, we'll facilitate the conversation back to the vendor.
We're still working on that. That's not out yet, but we're just trying to make that process as clean as possible because, as you know, the loss data throws the numbers and to the point of cost mattering to the right of the decimal point. One invoice missing and all of a sudden one period you're getting a bonus, but then the invoice comes into the next period, and now this period looks like a train wreck.
And I can tell you as an owner, nothing made me more angry than high fiving a manager for a great period, only to find out I didn't have all the information. Right.
Adam: Yeah, well, for us, too, it's cash flow, right? Like if you're missing that invoice and all of a sudden it hits the account, because a lot of times those have to get set up on ACH in order to get your terms and everything like that. So yeah, that integration would be super important and really helpful for the accountant. You know, not just on the manager side, it sounds like there's a lot of cool things.
So whenever you're talking ROI, because in my experience working with restaurant folks is, pennies cover dollars. That's the first time I ever heard that phrase, and I heard it from almost every restaurant person that I ever talked to and, it's like, nope, they're watching every cent that comes in.
Bo: The one I heard when I got started is, the best way to make a million dollars in the restaurant business is to start with two.
Adam: That's that's that's that's probably a good one, too. So that's why we were always just watching all those variable costs that you were talking about, but they're also very price sensitive; they're price sensitive to their accounting firm. They're very price sensitive to any kind of software tool that they use.
Obviously, I can see the high value that this would provide both with the recipe piece, the menu, all of the things, these are in pieces that all restaurants could probably use and benefit from. Who's an ideal target?
Bo: So yeah, the ROI on this is pretty straightforward. Our sticker price is 300 bucks a month and that's unlimited invoices, unlimited payments and unlimited support, no set phase, no contract.
So you can also turn it on. And if you don't like it, turn it off. We've always believed that if you don't wanna pay us, we don't want you to pay us. So I'm not gonna lock you into a contract. So 300 bucks a month flat fee, no incremental costs whatsoever. And our typical client is sort of 1 million to one-and-a-half million in revenue is sort of the average.
And when you look at a restaurant, say doing a million and a half in revenue, they're spending somewhere around $450,000 on food, right? They're spending $450,000 on labor. They're spending another two or $300,000 on other operating costs. And so, you're north of a million in spend and we're $3,600.
And so if we can save you 1%, that's a three X return on investment. And we like to believe we can save you several. In addition, somebody's typing this shit in. Somebody's typing those invoices in; that's what we tell people. You're paying somebody to do it. I don't know where you're paying, but somebody's doing it.
It might be the manager working overtime at night, who's miserable and trying to get it in at the last minute before they go home; or it might be the ownership or whatever that time gets given back to you in more productive ways. And so you save probably 10 hours of just data entry, and then you get all this rich data and it's, you know, 300 bucks a month.
Jamie: Yeah, it's pretty funny. I was expecting, cause I know Adam was thinking the same thing, I was getting ready to go down the pricing question as well. And I was like, okay, that'll take at least 10 minutes of this podcast to talk about the type of pricing you do. When you come out with $300 per month per unit, I did not expect that.
Bo: Well, you know what, Jamie, it came exactly from what Adam was saying, which is like, I was a restaurant operator for 10 years, and I was super sensitive about cost. And if somebody came to me, this is true in the pricing when we were discussing it, if somebody would come to me and say, it's a dollar an invoice. Then I would think about every invoice I sent.
I just would. Like, you're just that cheap when you're running a restaurant, right? And, we knew when we started the company that if we received 90% of the invoices, the whole thing's useless; it's just useless. Right? Like you need all the data. Or don't bother.
Right? And we tell people that. If you're not gonna send us a hundred percent of the data, don't waste your time. And so, I don't want someone to think, well, this is a small invoice. Is it really worth paying to have it processed? I want them to send us every one. And so, if you run out to Trader Joe's and buy avocados, you take a picture of it, right?
If you have a petty cash expense, you take a picture of it. We collect everything that you do so that we can give you real reporting. And yeah, and so I'm a big believer in simple and understanding that the restaurant has enough to deal with. We shouldn't be something they're thinking about as far as pricing.
Adam: Well, that's pretty amazing. You lost me for a minute cuz I was typing an email to a couple clients just telling them to check out your website. Because that's the thing; I can't tell you how many POS systems I've run across, and I'm like, it's a gorilla to lift; it's just a huge animal.
And then, and it requires a lot of training and implementation and everything, but then the other thing is the price tag is usually the biggest hurdle. You know, people are like, eh, I don't have the time.
[00:24:47] Bo: again, operations. I, more than once, had to call my POS, and it was a $75 minimum support call to call them.
And it made me so angry that something either didn't work in the POS or was so non-intuitive that I, as a software person, couldn't even figure it out. And they were gonna charge me to tell me how to use their own software. I was like, we will never do that. There are no support fees. If you have an issue, we actually want you to call us.
We wanna know what the issue is and we wanna fix the issue, right? If that's how you have to make your money, that's a rough business. We're not gonna make our money making people miserable.
[00:25:19] Jamie: You have people in there trying to play around with your systems and just breaking it even further. Right.
And then you have to solve three problems instead of one, when it actually comes to you. Oh, yeah. We've seen that before, too.
Adam: Well the folks that still like to hand write their checks and do that kind of stuff. They're still cool for this, right? Because then it just doesn't matter. You can still pull. And it can be a little bit after the fact, but they still get all the analytics.
Bo: Yeah. And a lot of our clients, they still print checks from their accounting system or write checks or whatever; they do for sure.
Adam: What about franchises?
[00:25:59] Bo: Our favorite clients, not to have favorites, but our favorite clients are the big accounting firms because they are so easy to work with. Franchises are great when we work with a parent. So, you know, we're not gonna get a thousand units.
Right. All the 13,005 guys aren't gonna sign up with us, but you know Burger 21 out of Tampa, they've got 25-30 restaurants that are franchised across six or seven franchisees. That's a wonderful client, right? They go in, they build all the recipes, our software lets them share them with the franchisee.
So the franchisee has their own accounting and bill pay and all that stuff and reporting, but they get to share in that centralized data set that's important. And so we definitely work with franchisees. But again, in that where the franchisees is sort of one to 10, not the Five Guys of the world, so to speak.
Jamie: Yeah, it makes sense. You’re not gonna want to do something special for these six restaurants that's owned by this one franchisee and then everybody else doing something different. That'll never work, but I think to your point, I think a lot of companies, when they get to that 20, maybe before that they start thinking about the franchise option, so I think that makes a lot of sense getting in with them early, and then they can use it for all their restaurants. Cause again, for that cost and that fixed cost, it makes a lot of sense.
Bo: Yeah, we also do a lot of fine dining, where each concept is its own restaurant completely; that's probably 40% of our business.
Jamie: Okay. Makes sense. So I think yeah, I'm sure there are accountants listening to this that have either vertical in restaurants or or they do a handful of restaurants. And so I know like Adam said he was already emailing some people and I'm sure there are people listening to this. You'll hopefully get some calls out of this.
Bo: Yep, please call us. I’d love to talk to you.
Jamie: Any other final thoughts for those accountants that are listening to this and things they might need to be thinking about or need to know?
Bo: No, I think the heart of it is, there's a lot of value in automation so that you can provide value added and not have to deal with typing in sales entries every day, or some of the minutia that comes with this.
I mean, I will say for the larger firms, we'll even do co-branding, so it can be a tool provided by you. You can provide the support, you can provide the user accounts, you can sort of own the process. So we we'd love to talk to folks that are interested for sure.
Jamie: That's great. Adam, any final thoughts or questions?
Adam: Yeah, the real-time nature of it, I think is the most valuable piece. And, then obviously, providing the client with tools and analytics that we just couldn't provide them with, in terms of like that menu analysis and things like that.
I mean, that's just above and beyond. That'll help them get to the root of the problem. I think that's super important. And you nailed it with–you're pretty inexpensive. I mean, it'd be a hard miss for somebody to be like, nope, that's just too much for me at $300. Like you said, all restaurants could use this and the return on investment is pretty immediate. It's kind of a no-brainer.
Bo: Thank you. We like to think so.
Jamie: I definitely think a lot of our listeners are gonna be calling you. This is a great product for them. With any business, data is power, and I think with the amount data you provide to them, it is gonna help them make the right decision. So, definitely appreciate you coming on the show.
Bo: Thanks so much for having me. Nice meeting you both.
Jamie: Enjoy this podcast.