LOS ANGELES and DENVER, Feb. 22, 2023 — Nextbite today launched True Revenue, its restaurant solution that enables restaurants to easily reconcile and consolidate complex delivery service provider (DSPs) transactions. The Nextbite True Revenue solution integrates with the DoorDash Reporting API, announced today, providing restaurants with powerful reporting and in-depth analytics to optimize their menu and grow their business.
The Nextbite True Revenue solution collects all of a restaurant’s delivery service transactions (such as orders, rebates, and cancellations), reports from multiple DSPs into a standardized format, and then reconciles them together, producing a unified overview financial statement. It provides a streamlined tool for post-sales reporting and accounting from all online delivery service providers (DSPs). Created to work as a standalone product or with Nextbite’s Ordermark online ordering/delivery management platform, the True Revenue solution addresses a significant resource drain for restaurants currently forced to process each DSP separately post sales.
“We’re excited to launch our financial reporting solution that helps restaurants see an accurate and unified overview of their business,” said Paul Allen, co-president of Nextbite. “With True Revenue, restaurants now have full visibility into their off-premises business, and it eliminates the possibility of manual error, delivering a high degree of accuracy for grouping and reconciling large volumes of DSP transactions.”
The True Revenue solution is now available for restaurants, and more information is available at https://www.nextbite.io/truerevenue-dd/.
Nextbite is helping drive and shape the new digital era for the restaurant industry. A leader in virtual restaurants and the pioneer in online order management, the company is focused on helping restaurant partners successfully enter the digital restaurant space with new digital-first menus, using underutilized labor and kitchen capacity, to increase margins and revenue. Originally founded as Ordermark in 2017, Nextbite matches in-demand brands with under-utilized kitchens via technology, data and services. Headquartered in Denver and Los Angeles, Nextbite has raised more than $150M in funding, with its most recent round led by SoftBank. Learn more at nextbite.io, and follow us on Facebook, Instagram, LinkedIn and Twitter.