Fourth, a prominent provider of workforce and inventory management technology, has launched its latest product release named ‘Level Up’ for its AI-driven platform, aimed at addressing current economic challenges in the hospitality sector.
In 2024, UK hospitality operators are grappling with rising costs, exacerbated by recent increases in the National Living Wage and business rates. These factors are squeezing profit margins and placing additional strain on already stretched teams. Coupled with labor shortages, food inflation, and price-sensitive consumers, operators are in urgent need of innovative solutions to navigate these complexities effectively.
Available immediately to customers, Fourth’s ‘Level Up’ introduces a suite of new capabilities designed to enhance profitability, operational efficiency, and employee engagement amidst these challenges.
A standout feature of the release is ‘AI for Inventory’, integrated into Fourth’s Purchase to Pay & Inventory product. This innovation includes AI Forecasting, leveraging proprietary technology to predict demand at the item level. This capability optimizes purchasing decisions, inventory management, and preparation processes, thereby improving efficiency and reducing waste. Additionally, AI Invoice Processing automates the labor-intensive task of invoice handling, streamlining operations and minimizing errors.
Sebastien Sepierre, Managing Director, EMEA at Fourth, highlighted the transformative impact of AI Forecasting, citing successes in workforce scheduling across major UK restaurant groups. He emphasized the broader application of this technology within inventory management solutions through the ‘Level Up’ release.
Other notable features include:
- Onboarding App: Facilitates a flexible and engaging onboarding experience for new hires.
- Shift Pooling: Optimizes workforce deployment by allowing staff to take on shifts across multiple locations.
- Precision Payroll: Updates to comply with new legislative requirements, such as the Allocation of Tips Act.
- Enhanced Employee Engagement: Introduces tools for employees to update personal information, electronically sign employment documents, and utilize dedicated messaging features to replace informal communication channels like WhatsApp.
Sepierre reiterated Fourth’s commitment to supporting its customers with tailored technological advancements over its 25-year history. He emphasized the company’s proactive stance in equipping operators with tools to achieve tangible improvements in profitability, efficiency, and employee satisfaction.
For a comprehensive overview of all features included in the ‘Level Up’ release, visit Fourth’s official website.
