What is MarginEdge?
MarginEdge offers the first and only restaurant solution to combine paperless invoice processing with POS and accounting integration. We asked them 8 questions, as a part of our “What Is” blog series, to learn more about their app and their company.
What is your App’s name, what do you do, & when did you get published on Intuit’s Apps.com?
Our App is also our company name – MarginEdge! We give restaurants and their accountants a way to automatically sync all of their sales entries from their Point-of-Sale (POS) systems to QuickBooks. We are by far the most advanced solution for this, connecting QuickBooks to over 42 different POS systems.
Our Premium version goes even further, giving restaurants a fully automated invoice and A/P processing solution – helping eliminate the entire back-office paperwork nightmare involved in running restaurants. Total game changer for the industry.
We have been working with QuickBooks since 2015 and just launched in the App store this year!
What was the main problem you were trying to solve when you first developed MarginEdge?
We wanted to help restaurants jump into the modern-age and stop doing so much data entry! Restaurants and their accountants have tons of information to manage, and with very few systems talking to each other, lots of time is spent entering invoices and sales into spreadsheets and QuickBooks by hand. Sales information is often printed out from the POS system and then entered into QuickBooks manually because the POS systems don’t connect (or connect well) to QuickBooks.
Our founders are both seasoned restaurant owners and tech entrepreneurs, so for them this disconnect between POS and QuickBooks was both obvious and totally unacceptable! They also knew there had to be a better way to deal with the piles of invoice paperwork and endless data entry related to invoices and AP.
So, they set about building a system to connect these key restaurant systems and capture both sales and expense information digitally. It can all then be sent automatically to QuickBooks, PLUS MarginEdge then has really rich information on purchases and sales to provide key restaurant management tools around inventory, recipes, ordering, and variance reporting.
What companies (or users) are the best fit for MarginEdge?
The best fit for us? Virtually all restaurants and the accountants and bookkeepers who work with restaurants. As for size and type of restaurant – we work with everything from single-location businesses, to small local groups, to national concepts and larger chains. And we span the full spectrum of styles, helping quick-service, fast-casual, full-service and fine dining restaurants alike.
And while we are a solution for restaurants, quite often our clients are the independent accountants or accounting firms that serve those restaurants. Our accounting clients love us for giving them back hours of time spent on manual data-entry. We also help them improve the quality of information they can provide to their restaurant clients.
Tell us about your users’ top 3 favorite features or benefits of MarginEdge.
Akk, just 3?! OK, here goes:
- Eliminating manual data entry. Our users never enter another sales entry by hand. (And Premium users never enter another invoice again!)
- Timely information. Sales entries are made daily, so there’s no lag in reporting, no waiting days or weeks for financials.
- Improved visibility. With such detailed sales and expense information in MarginEdge, owners and accountants have access to far more sales and operating information than ever before.
Tell us about your company’s culture and leadership.
With our founders having run 20+ restaurants, our culture has its roots in the hospitality industry. This means we care deeply about all our clients loving our product and ‘always coming back’ (or translated into our world, ‘never leaving as clients’!)
As for our company – we are a fast-growing technology company with team members who are totally passionate about changing the way restaurants and their accountants manage the paperwork and data involved in running the business. What does this look like in real life? A really fun, very casual, super supportive but still fast-moving work environment.
On the leadership front, MarginEdge is really unique. Our product stands at the intersection of hospitality, technology, and finance, and this overlap in the restaurant industry isn’t typically very high. In our case, though, our founders have been involved with businesses that cover all of these, having run restaurants, started and sold technology companies and even held senior finance roles. It’s a really unique blend of talents and infuses the company with a really interesting mix of ideas and perspectives.
How is MarginEdge different from your competitors?
Well, pretty simply – we are less expensive, connect to more POS systems, and know the restaurant business better than anyone. Period. And our Premium version doesn’t yet have competitors – MarginEdge is currently the only solution that offers automated sales/invoice processing with feature-rich restaurant management tools.
What is the pricing for MarginEdge?
Just $15/month for automated sales entries from POS to QuickBooks. We know, crazy that it’s so little, but we’ve done it for hundreds of restaurants and we’re pretty darn good at it. The Premium solution varies a bit based on size of restaurant, so best to reach out to us to chat about your restaurant or group.
Does MarginEdge have any programs for Quickbooks ProAdvisors?
Not yet, but we hope to in the near future. We do have a referral program for accountants and accounting firms, so please contact us about that.