New integration helps hospitality businesses connect point-of-sale transactions and financials to drive operational efficiency, improve business visibility, and enhance the guest experience

To help restaurants and hospitality businesses increase productivity and make more informed decisions, Oracle NetSuite today announced a new NetSuite Connector for Oracle MICROS Simphony. The integration provides tailored functionality for the restaurant and hospitality industry that will help customers reduce costs, centralize data, and increase efficiency.

The NetSuite Connector for MICROS Simphony enables customers to connect Oracle’s industry-leading restaurant point-of-sale (POS) solution with NetSuite’s integrated cloud business suite. The integration enables a daily import of core financial and inventory data from Simphony into NetSuite, helping customers to consolidate financial reporting, streamline cash reconciliation, and eliminate the time spent on manual data integrations. 

“Restaurant and hospitality businesses need to be agile, but disconnected systems can make it difficult to understand performance and customer demands,” said Evan Goldberg, founder and executive vice president, Oracle NetSuite. “NetSuite Connector for MICROS Simphony helps create a single source of truth with visibility into how sales are driving financial performance. By combining the power of Oracle and NetSuite, we are committed to helping our customers take advantage of end-to-end solutions to support growth.”

NetSuite Connector for MICROS Simphony helps customers by connecting POS and finance data to:

  • Enhance financial reporting: Close the books faster and improve financial visibility by simplifying the management of multi-concept or multi-location restaurants. With NetSuite Connector for MICROS Simphony, each restaurant location can send separate data to NetSuite, with tender data segmented by tender name and carry over amounts included.
  • Streamline data reconciliation: Reduce time spent on manual data transfer and reconciliation with automatic updates from Simphony to NetSuite. With NetSuite Connector for MICROS Simphony, data imports are segmented by dayparts and include detailed transactional data such as totals, items sold, service charges, and discounts.
  • Improve inventory management: Eliminate manual data entry and reduce errors by automating the data flow between POS and inventory systems. With NetSuite Connector for MICROS Simphony, businesses can accurately track what items have been sold and make more informed decisions about inventory management and demand planning. 

“Restaurant and hospitality businesses are in a state of constant reinvention, and their technology stack should be making their lives easier, not harder,” said Simon de Montfort Walker, senior vice president and general manager, Oracle Food and Beverage. “With NetSuite Connector for MICROS Simphony, our customers now have an integrated system that is tailored to their industry, removing the need for third-party platforms or expensive customizations. By seamlessly connecting financial and sales data, businesses can now access performance information to help them make faster, more informed decisions and better serve their guests.”

Availability:

The NetSuite Connector for MICROS Simphony will be available in North America in 2024.