The Lynx Purchasing GP Calculator App, has become the first digital product to receive the Craft Guild of Chefs' endorsement.
The GP App which allows chefs, caterers and restaurant managers to monitor margins in busy kitchens or when negotiating with suppliers, works in conjunction with a smartphone or tablet and was tested by Craft Guild members and catering students to secure the award.
Developed by Lynx Purchasing, the App has already been downloaded more than 7,500 times, and allows users to manage their menu costs by calculating: target percentage GP, target cost price for ingredients and a read-out of the gross profit being made.
John Pinder, managing director of Lynx Purchasing, said: "The appeal of the App is that it recognises the commercial reality of creating dishes and menus in a busy restaurant, pub or hotel kitchen.
"Most operators work to a target GP, but there are also times when they offer dishes at a set price and need a target cost for the ingredients, or simply need to know what GP they are getting on a special that's priced to sell. Having an easy GP calculator on a smartphone or tablet helps chefs to manage their costs in the working environment."
Fergus Martin, head chef of Wyboston Lakes Hotel and Conference Centre, and member of the Craft Guild of Chefs, added: "I gave it my chefs who do the daily specials, so they could use it to calculate selling price quickly and easily. It gave them a better understanding of how important it is to get the GP right, particularly with specials."