Fourth Launches End-to-End Restaurant and Hospitality HR, Benefits and Payroll Services in the U.S.
Fourth, a hospitality operations platform provider, announced the launch of its full-service HR, benefits and payroll services in the U.S. market. In addition to its complete hospitality operations platform with sales forecasting, scheduling, purchase-to-pay & inventory capabilities, Fourth now offers full-service payroll, benefits and HRO services, following its recent acquisition of Choice HR. By combining the power of its advanced hospitality management technology with deep HR expertise, Fourth enables operators to simplify their processes, optimize profits and improve employee engagement all while managing complex HR and payroll compliance.
“Labor management and payroll processing are a burden for many restaurant companies,” said Chris Sullivan, founder of Outback Steakhouse. “Combining restaurant workforce and scheduling technology with HR and payroll processing services solves a major problem for many companies. I have always believed it was possible for this to be done better and excited to see how this will revolutionize our industry.”
According to the latest data from the Bureau of Labor Statistics, the turnover rate in the restaurant industry holds firm at around 70 percent. In addition to workforce management challenges and day-to-day operations, restaurant operators are also spending countless hours navigating increasingly complex HR and compliance issues. Traditionally, operators have relied heavily on multiple technology platforms, or worse, paper and spreadsheets, to manage these tasks, resulting in unmanageable amounts of siloed data. Fourth’s hospitality operations platform breaks open these data siloes, providing complete visibility across the entire business in real time. Additionally, by providing unmatched access to full-service, hospitality-specific payroll, benefits and HR services, Fourth enables operators to focus on improving business outcomes rather than onerous HR matters.
Fourth’ s complete, end-to-end hospitality management solutions include:
- All-Inclusive Hospitality Operations Platform: The Fourth platform seamlessly integrates with every major POS system, finance platform and many industry specific third-party applications. With one user name and password, operators can quickly access a wealth of reports and dashboards.
- Full-Service Payroll, Benefits and HR Services: Eliminating the need for multiple systems, Fourth brings advanced hospitality operations management technology as well as full-service payroll, benefits, workers compensation and HR services together, providing managers the freedom to focus on improving business outcomes rather than tedious HR matters.
- Advanced Demand Forecasting: Rather than simply cataloging historical data, Fourth’s complete platform provides unrivaled advanced demand forecasting - using predictive algorithms and machine learning to factor in historical trends, weather and local events. By calculating a daily baseline forecast at 15-minute intervals by sales item, Fourth’s demand forecasting capabilities enable customers to ensure they have the labor and the inventory to deliver a great guest experience – every time.
- Analytics and Reporting Dashboard: Fourth’s intuitive platform features interactive graphs and charts that are automatically populated based on the unique KPIs of the business. With all the information an operator needs stored on the Fourth platform, CEOs, CFOs and managers can easily turn data into actionable insight at a click, leading to better business decisions.
Fourth continues to expand its footprint in the U.S., currently recruiting an additional 25 employees to its 70-person team in New York and Florida.