RARE Hospitality Chooses Instill Food Spend Management Solution.Will Improve Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. Through Automated Compliance Monitoring REDWOOD CITY, Calif. -- Instill in·still v. To pour in drop by drop. in stil·la tion n. [R] Corporation, the leading provider of on-demand supply chain solutions and services for the foodservice industry, today announced that RARE Hospitality International, Inc., will utilize Instill's Food Spend Management(SM) solution to generate cost savings and improve controls around its purchasing processes. "Many leading foodservice companies turn to Instill for the tools and services they need to scale with their growth," said Jeff Smith, Instill's Vice President of Marketing. "These companies leverage our unique technology and industry expertise to both improve controls and grow the bottom line." Instill Food Spend Management is a web-based, hosted solution that allows foodservice operators to ensure they are capturing the full value of their contracts by easily monitoring and enforcing unit compliance with order guides while identifying contract price variances, purchases eligible for rebates, SKU (StockKeeping Unit) The number of one specific product available for sale. If a hardware device or software package comes in different versions, there is an SKU for each one. SKU - stock-keeping unit rationalization opportunities and other cost savings. Instill Food Spend Management automates the collection and standardization of unit-level invoice data from distributors, eliminating time consuming and error prone processes. The information is then presented in an intuitive application that allows foodservice professionals to "manage by exception," leveraging dashboard and alert capabilities that highlight exceptions and opportunities for additional cost savings. In addition, operators are using the solution's contract price verification and auditing capabilities to ensure they have the internal controls in place to comply with their Sarbanes-Oxley initiatives. "Foodservice is a complex industry," said Anthony Wilson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Instill. "Sarbanes Oxley and the heightened focus on improving corporate governance has only increased that complexity. We're extremely pleased RARE has chosen to work with us on this front, and look forward to helping them grow their business." Instill's Food Spend Management solution is part of a comprehensive, integrated suite of proven solutions for foodservice companies that also includes Procurement, Promotion Management, Quality & Compliance Management, Product Information Management, Business Intelligence, and Trade Spend Management. About RARE Hospitality International, Inc RARE Hospitality International, Inc. (NSDQ NSDQ Night Stalkers Don't Quit (US Army 160th SOAR slogan) :RARE) currently owns, operates and franchises 326 restaurants, including 266 LongHorn Steakhouse restaurants, 26 Capital Grille restaurants and 32 Bugaboo Creek Steak House Bugaboo Creek Steak House is an American steak house with locations in ten states. It is decorated as a hunting lodge in the Canadian Rockies and has won numerous 'Best Steak House' awards from CitySearch and AOL. restaurants. About Instill Corporation Information to Understand Your Business For more than a decade, Instill has been helping customers build enterprise value by applying innovative technology and industry expertise to address the unique challenges facing foodservice companies. Instill is the only technology company focused exclusively on the foodservice industry, providing a proven, comprehensive set of solutions for leading companies such as Hardee's, International Dairy Queen, IPC/SUBWAY[R], Nathan's Famous, YUM YUM The ISO 4217 currency code for the Yugoslavia New Dinar. ! Brands' UFPC UFPC United First Parish Church and UPGC, Centerplate, General Mills and Procter & Gamble. Instill is headquartered in Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000. , and can be reached at 1-888-Instill or at www.instill.com. |
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