New! OLIN, The First AI Technology to Boost Culinary Business Profits

As a culinary entrepreneur, have you ever thought about how much budget or expenses you need to increase the efficiency of your business? Or how many employees you need to recruit to help grow your business?

Looking at the data based on ABDI (Association of Big Data and AI Indonesia), there are 10,000 data analysts in Indonesia, and according to PHRI (Association of Hotels and Restaurants Indonesia), there are 1,000 culinary business consultants, 2,000 forensic auditors, and about 40,000 accountants in Indonesia.

With an average salary in the double digits per month for each profession, where these skills are highly needed to develop your business into a more successful one. But it needs to be emphasized, it requires a significant budget, doesn't it? So, how can you, as a culinary entrepreneur, increase the efficiency of your business without spending excessively?

Well, it seems like you should get to know OLIN, the AI (Artificial Intelligence) assistant specifically created by ESB, aimed at helping you improve the quality of your culinary business. Here, ESB provides services with the professions mentioned above without you having to spend that much budget.

Exciting, isn't it? Are you curious about the features that OLIN will provide? Check out the article below if you want to enhance the efficiency and quality of your culinary business!

Introducing OLIN

Source: ESB Documentation

OLIN is the world's first AI technology specifically for culinary businesses to increase your business profit. OLIN serves as an AI assistant created by ESB, with the aim of assisting culinary business owners who have been using ESB products.

OLIN offers 5 features that can help your culinary business

OLIN has 5 basic tasks that can help your culinary business, including:

1. Sales prediction

OLIN can predict calculations based on historical data, menu, menu prices, consumer behavior analysis from merchant businesses, and promotions that merchants/culinary entrepreneurs have tried. Assisted by AI, OLIN performs statistical calculations based on historical data to project sales estimates for the upcoming month.

2. Showing the financial condition of the business

OLIN can simplify the process of reading financial statements by categorizing profit and loss statements into three main parts: revenue, cost of goods sold (COGS), operating expenses. All of this data is available in real-time, allowing entrepreneurs to see the condition of their business directly. The division of business components into three parts also helps entrepreneurs to be more focused.

If sales are low, this indicates the need to focus on increasing consumer spending and promotions. While if the cost of goods sold (COGS) is too high, entrepreneurs need to consider the use of raw materials, raw material prices, or pricing policies. High operating expenses, such as employee and rent expenses, can be addressed by focusing on process efficiency and making changes in how food and beverages are served to consumers.

3. Providing up-to-date menu recommendations

After knowing the sales prediction, the next step is how to achieve it. There may be many foods that can go viral and tantalize taste buds. But few entrepreneurs understand consumer behavior and can use it to drive more purchases.

So how can entrepreneurs know which menus are suitable to be combined and at what price? Even obtaining consumers' phone numbers is difficult, let alone understanding their behavior.

So OLIN comes in to analyze specific menus from merchants, adjust them to consumer behavior in the industry, and then recommend menu combinations and estimate sales results both in terms of quantity and sales value.

4. Providing suitable promotion recommendations for the business

The most important thing in designing a promotion program is calculating the ROI (return on investment) of the program. ROI can be calculated by dividing the increase in sales by the additional costs incurred to run the promotion.

In other words, OLIN provides direct information about the percentage increase in sales from each promotional program. Thus, entrepreneurs can find the types of promotional programs that suit their businesses.

With the hope that culinary entrepreneurs will continue to try various promotional programs so that OLIN can help evaluate which promotions are most effective for culinary entrepreneurs' businesses.

5. Fraud prevention

OLIN can detect the probability of fraud occurrences and inform culinary entrepreneurs to conduct further investigations. Generally, culinary entrepreneurs have difficulty finding sources of leakage or fraud without adequate knowledge.

With that in mind, OLIN collects cashier and employee behaviors using the ESB system in stores, offices, or warehouses. These behaviors are recorded and summarized by OLIN to then be scored based on behaviors considered common or uncommon in that type of culinary business.

This categorization method is suitable for culinary businesses because there are only four major components that have a significant impact on business profitability: sales, menu costs, employee expenses, and rent expenses (location costs). By focusing on these four variables, entrepreneurs can make more accurate decisions before considering other variables in financial statements.

OLIN Prioritizes 4 Core Values for Culinary Entrepreneurs

OLIN is presented with four core values for culinary entrepreneurs:

1. Convenience

Source: ESB Documentation

OLIN is designed with a simple user experience so that it can be easily used by anyone, without the need for in-depth knowledge for data interpretation and analysis. All data is processed automatically, and recommendations are presented in clear summaries.

2. Accuracy

Source: ESB Documentation

OLIN is based on detailed data iteration processes, processed daily, weekly, monthly, and yearly. OLIN provides accurate analysis reports.

3. Reliability

Source: ESB Documentation

The data processed by OLIN is real-time data and daily transaction results from every brand, so the analysis results and best recommendations provided are very specific and unique to each brand.

4. Security

Source: ESB Documentation

The collection, processing, and analysis results carried out by OLIN are confidential, only processed and aimed at the related brand. The results are closed to each merchant. Data security and confidentiality are guaranteed by OLIN.

So, those are some cool features and values that OLIN emphasizes to help you manage your business more efficiently. With OLIN's support, your F&B business will become even more successful and grow rapidly! So, don't hesitate to try OLIN and see how OLIN can help your business achieve success. Check it out here if you want to know more about OLIN.