Franchise Management

Franchise Management with Sage Intacct

Sage Intacct is the leading cloud-based ERP solution for franchise management. Franchise owners can easily manage multiple locations, access in real time data, and gain insights into each location’s performance without sacrificing roll-up reporting capabilities. All of this is made possible by Intacct’s best-in-class multi-entity management / consolidation capabilities and open API. Intacct relieves business owners of IT worries, all while eliminating cumbersome consolidations and manual reporting. Franchise finance and accounting teams can become proactive team players by refocusing their time on high value analytic tasks. Below are a few recommendations of how Sage Intacct can provide the boost your franchise’s finance team has been looking for:

Multi Location Reporting

Managing multiple entities or locations can be overwhelming with the wrong software. With Sage Intacct you can quickly see each individual location’s financial data, as well as the financial health of your entire franchise. The high configurability of Intacct makes roll up reporting for the executive team a breeze. Now decision makes can quickly analyze their total business with real-time data and seize time sensitive opportunities, both on the franchise and individual store levels.

Secure, Granular Permissions

Sage Intacct’s user permissions allow you to easily assign and update user permissions, giving each person access to only the location(s), reports, and financial data necessary to their role within your organization. With their own login, managers can see their store(s) financial information without sacrificing the security of other franchise financial data or them having to wait to receive manual reports from the corporate finance team. Now franchises can structure their accounting system to fit their organizational structure, instead of modifying employees’ roles to fit the accounting system’s capabilities.

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Streamlined Tech Stack

Sage Intacct has a fully open API for seamlessly connection to your franchises’ other systems, such as your POS, HR management, and business intelligence software. Being able to connect all of your business tools to Sage Intacct means you can now pull data from disparate systems into one place for expedited review. Imagine having a dashboard showing sales from your POS, headcount from your HR system, and comparative report showing revenue by headcount across all your locations.

Hassle Free Expansion

Adding a new store location in Intacct can be done in a matter of hours, not days or weeks. Intacct was designed for rapidly expanding businesses, meaning your new franchise location or holding company can be added quickly without any IT resources or reconfiguration of existing locations.

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Benchmarking and KPI’s

Benchmarking is made easier with Sage Intacct’s ability to consolidate and report information. Business owners can quickly see how each location is performing against their KPI’s and against other locations. This means owners and their management team can quickly identify performance issues. Also, through

Sage Intacct’s dashboards management can dive deeper into the numbers and understand the drivers of each locations’ performance.

Negotiate Pricing

Sage Intacct’s numerous reporting tools allow your team to tailor reports that slice and dice data to your company’s individual needs. With this ability, data can easily be analyzed to show how much your franchise is spending with each vendor, at each location, and what types of goods are being purchased. Management can easily leverage this data to negotiate pricing with vendors and identify opportunities to streamline operational expenditures. Sage Intacct effortlessly provides opportunities to your franchise managers for increased insight and control of operations, driving increased profitability for your entire franchise.

To scale your franchise’s growth, you need a solution that provides meaningful capabilities. Find out more about how rinehimerbaker can help you implement Sage Intacct and achieve success with your franchise. Check out this case study where rinehimerbaker leveraged Sage Intacct to drive success in a high-growth franchise.


Restaurant Financial Technology

Today’s Special: Technology Eases Financial Management Pain Points for Restaurateurs

What happens in the back office of your restaurant isn’t ever a customer concern—unless, of course, their meal is missing a key ingredient or the credit card system goes down. Your customers are focused on their dining experience, and they probably don’t think beyond what happens in the kitchen; the only thing on their minds is the roulade, the house white, and the soup of the day.

Little do your customers know that on the other side of the kitchen wall resides the business management office, which offers up a different kind of hustle and bustle: inventory control, payroll processing, quarterly reporting and more. Let’s take a look at the pain points encountered within—because they signal the need for transformation.

Yesterday’s Technology

Restaurants that are still using manual accounting systems based on paper ledgers and spreadsheets find it hard to keep up with the fast-paced financial world around them, even if their processes include the use of boxed accounting software. This antiquated approach relies on yesterday’s latest-and-greatest—which pales in comparison to today’s automated, digital, accessible-24/7 solutions.

The challenge this presents for restaurant owners is that when compared with competitors who do leverage today’s technology, they’re not able to make the best use of their data and resources:

  • Keying the same transaction multiple times, into multiple systems, is time-consuming and can result in errors
  • Data housed in disparate systems (paper or electronic) doesn’t automatically sync for analysis
  • Operational and financial inefficiencies can lead to higher costs, delays, and even compliance risks

These roadblocks can be substantial for restaurant owners who have expansion plans. Most entry-level accounting software simply isn’t equipped to support increasing needs for inter-company transactions, real-time line item reporting across restaurants, or multi-user access. And without comprehensive insights into business drivers, owners don’t have adequate decision-support and can quickly lose competitive ground.

Tech-savvy Customers

We hate to suggest that customers are ever a pain point for a company, so let’s reframe this by saying that today’s digitally minded consumers are influencing change in the way restaurants approach their IT investments. Hospitality Technology’s 2017 Restaurant Technology Study found that for the first time in a decade, digital engagement displaced efficiency as the top strategic goal for IT investments. Indeed, improving digital customer engagement/loyalty is the top strategic goal cited by 61% of respondents. But that’s followed by improving business and customer analytics (39%), enhancing payment and data security (38%), and increasing employee productivity (27%).

 

With so much focus on the customer experience, restaurants are on the hook to deliver more than a delicious meal to the table (or front door). Efficiency still matters. That’s why restaurant IT environments that cater to both the customer and the office administrator are positioned to perform well into the future. It’s the best-in-class cloud-based solutions they can count on to support them at every angle.

Technology: On the Menu

Sage Intacct’s hospitality accounting software helps restaurateurs manage their financials for single or multiple locations. Thanks to automation technology, it’s easier than ever to keep up with evolving revenue recognition requirements, manage vendor payments, get real-time visibility into cash flow, and analyze operational and financial performance across a number of dimensions. Since the solution is cloud-based, it’s easily integrated with your existing systems—or those you’re planning to implement. As such, it’s scalable and can grow with you, whether that means expanding into new locations or introducing next-generation technology to delight employees and customers.

Get in contact with us to learn more.