When you run a franchise business, its parts are as important as the whole. While you stay aware of your company’s broad financial health and growth, you also need a clear look at the details of the operation of each location.
As your business grows, keeping the books can easily eat up a significant amount of time, especially if you depend on spreadsheets. You and your employees may end up dedicating more and more hours to tasks like manual data entry and month-end closes.
By automating many of these processes, Sage Intacct, a cloud-based financial management system, can simplify the accounting for your business, giving you back the time you can use to find ways your company can save money, from cutting costs to renegotiating contracts. You’ll also be able to dedicate additional hours to reviewing your company’s analytics and using that data to plan for growth.
Here are nine ways your franchise business can benefit from using Sage Intacct:
- Simple reporting. Easily create reports that allow you to see every aspect of your company’s accounts.
- See exactly where your money is going. You can look at even the lowest-level numbers in real-time, whether you’re at your home office or on the road. Since Sage Intacct is based in the cloud, information can be accessed from anywhere.
- Transparency. Allow your employees to operate autonomously by giving them access to the parts of the system they need to perform specific accounting tasks and review data related to their jobs. For instance, store managers can be given permission to see information for their particular location, but might not be permitted to see overall company records.
- Automation. Streamline your workflow by reducing your company’s reliance on manual operations.
- Manage multiple entities. Manage everyone in one consolidated system, with the ability to look at each location’s performance in greater detail with customizable dashboards and reports.
- Data and dashboards. Find out which stores are profitable and why, with reports that compare the key performance indicators (KPIs) of each location. This data will help you identify issues and where to implement cost-cutting measures. Once the changes are in progress, you can set up dashboards to easily track them.
- Reduce monthly close times. For example, a Burger King franchisee was able to cut their monthly close time in half after switching from QuickBooks to Sage Intacct.
- Smooth integration. Connect with third-party systems, including customer relationship management (CRM), point-of-sale, human resources, and payroll applications. Information from each can be pulled directly into Sage Intacct and displayed on dashboards that can be configured to illustrate everything from sales data to revenue per employee at each location.
- Keep up with expansion. Sage Intacct is set up so that it can grow with your company. When needed, you can add easily add new locations to the system yourself, without help from anyone in IT.
Get the details on exactly how your company can grow by taking advantage of Sage Intacct’s automated tasks and multi-entity management. Schedule a time to talk with one of the experts at RSM to find out more.