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In today’s episode of The Hospitality Hangout, Michael Schatzberg “The Restaurant Guy” and Jimmy Frischling “The Finance Guy” are joined by Clinton Anderson, CEO of HotSchedules (now powered by Fourth.)

Clinton shares his journey from a farm in rural Canada to CEO of Fourth, a restaurant technology provider serving 125,000 locations globally. Listen as he discusses the importance of collaboration between operators and tech partners, ideas for controlling volatile back-of-house costs, how purchasing and inventory management remain antiquated for most restaurants, and the key role forecasting plays in profitability.

Clinton also reveals whether he was truly chased by a grizzly bear, arrested crossing the US-Canadian border, and if he speaks fluent Japanese.

Key Takeaways

  • Engage in a candid discussion about the biggest challenges facing restaurant operators, from procurement and forecasting to software solutions and equipment management.
  • Explore Schatzy’s enduring loyalty to HotSchedules, a technology that has stood the test of time for over two decades.
  • Delve into Clinton’s diverse background, from attending Harvard to working at Bain & Capital, investing, and ultimately leading a technology company to success.
  • Learn why Fourth is revolutionizing the restaurant industry by simplifying complex processes and encouraging widespread adoption of tools that enhance efficiency and consistency.
  • Discover Fourth’s AI-powered forecasting tool, designed to anticipate rising labor and food costs and empower restaurants to leverage data for profitability.
  • Understand the importance of predictability as a differentiator in the restaurant industry, and explore the challenges faced by operators in embracing technology solutions.
  • Gain insights into the value of customer feedback, including insights from a customer advisory council, and learn how addressing industry pain points can drive meaningful change.
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