haddock is a fintech SaaS platform designed to help restaurants improve their margins through real-time cost control and business insights. By leveraging artificial intelligence (AI) and optical character recognition (OCR), haddock digitizes invoices and financial documents, enabling restaurants to monitor costs, track price variations, and access updated profit and loss (P&L) data instantly.
The platform streamlines the process of financial management for restaurants. Users can simply take a picture of an invoice and upload it, with data automatically extracted and organized for immediate analysis. Additionally, haddock integrates with various point-of-sale (POS) systems, further simplifying the process of bringing financial data into one central dashboard. This empowers restaurant owners and managers to make informed business decisions based on up-to-date information.
What technology enables haddock's solution?
haddock's core technology stack includes AI-powered document processing and OCR, which automate the extraction of data from invoices and receipts. This eliminates manual data entry and reduces the risk of errors, ensuring that cost tracking and reporting are both accurate and efficient. The platform's seamless POS integrations allow for automatic syncing of sales and cost data, giving users a comprehensive view of their margins and operational performance.
Who uses haddock?
haddock primarily serves independent restaurants and small to medium-sized restaurant groups who need real-time margin visibility and cost control but lack the resources for complex financial systems. The solution is well-suited for operators in Spain and broader Europe, especially those seeking a simple, mobile-friendly way to digitize and monitor their P&L, menu costing, and supplier price changes. With a team based in Barcelona, haddock is positioned to support restaurants operating in competitive and cost-sensitive markets.
Who are haddock's competitors?
haddock operates within the restaurant cost control and management software space, competing with a range of global and regional solutions:
- Reciprofity: Offers instant recipe costing and AI-powered menu engineering.
- meez: Focuses on recipe management, menu engineering, and cost analysis for restaurants.
- Apicbase: Integrates recipe costing with inventory management and analytics.
- MarginEdge: Provides real-time food cost monitoring and business insights.
- Orderly: Automates food cost management and eliminates manual data entry for inventory.
- Recipe Costing: Comprehensive costing solutions considering recipes, labor, and materials.
- EZchef Restaurant Software: Excel-based menu costing and analysis tools.
- Toast POS Recipe Costing: Integrates costing tools with POS for profitability tracking.
- Gofrugal: Offers holistic food costing, factoring in overhead and operational costs.
- piecemeal.io: Provides free restaurant management for single locations, with paid options for multi-location operators.
While many of these platforms focus on North American markets or larger chains, haddock differentiates itself with a strong focus on European restaurants, ease of use, and real-time document digitization using AI.
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