Boosting Restaurant Adaptability: Unleashing the Power of Sage Intacct

The restaurant industry is a dynamic and competitive space, constantly evolving to meet changing customer demands. In order to thrive in this landscape, restaurant owners and managers need a robust financial system that can keep up with their ever-changing needs. Sage, a leading provider of business management software, is the perfect choice for restaurant CFOs wanting to remain adaptable. Our infographic “Is Your Restaurant Financial System Helping You Remain Adaptable?” sheds light on the challenges faced by the industry and how Sage Intacct can address them effectively.

Top Challenges for the Restaurant Industry

Restaurants face several unique challenges that can impact their financial stability and operational efficiency. The infographic highlights three key areas that demand attention:

  • Hiring and retaining labour to meet dynamic needs: Finding and retaining skilled employees in the restaurant industry can be a significant challenge. With fluctuating demand and varying shifts, the ability to manage labour costs and schedules efficiently is crucial.
  • Resource-intensive and time-consuming manual processes: Traditional manual accounting methods are prone to errors and consume valuable time and resources. Streamlining financial processes is essential to reduce costs, improve accuracy, and free up time for strategic decision-making.
  • Expanding the finance role into strategy and operational business: Restaurant finance teams are increasingly expected to play a strategic role in driving growth and profitability. However, outdated financial systems often limit their capacity to provide timely insights and analysis to support decision-making across the organization.
The Changing Restaurant Market Landscape

To adapt to these challenges, restaurants need to equip themselves with essential capabilities in their financial software.

  • Real-time reporting: Access to up-to-date financial data and insights enables restaurant owners and managers to make informed decisions on the fly.
  • Process and data automation: Automating manual tasks, such as invoice processing and inventory management, reduces errors and improves operational efficiency.
  • Better multi-entity support: Restaurants with multiple locations or franchise operations require software that can consolidate financial data across entities while maintaining accurate reporting.
  • Better integration between other systems to share data: Seamless integration between various systems, such as point-of-sale (POS) and payroll, allows for efficient data sharing and eliminates redundant data entry.
  • Quicker, easier reporting: Intuitive report writers and dashboards enable finance teams to generate customized reports easily, saving time and providing actionable insights.

Why Sage Intacct is the Right Choice for Restaurant Businesses

Sage Intacct, in partnership with The Answer Company, addresses these needs effectively with its comprehensive capabilities:

  • Automates and streamlines processes across entities to increase efficiency: Sage Intacct automates financial processes, such as accounts payable, accounts receivable, and general ledger, reducing manual errors and freeing up time for strategic tasks.
  • Integrates with best-in-class systems suited for your ecosystem through its open API: Sage Intacct seamlessly integrates with other systems, such as POS, payroll, and inventory management, allowing for real-time data sharing and improving accuracy.
  • Analyzes real-time performance by drivers: Sage Intacct provides robust reporting and analytics capabilities, enabling restaurant owners to track performance based on key drivers like menu items, locations, and labour costs.
  • Empowers with easy-to-use custom report writers and dashboards: With user-friendly report writers and dashboards, finance teams can generate customized reports and gain real-time visibility into financial performance.
  • Continuously consolidates multiple entities: Sage Intacct streamlines the consolidation of financial data across multiple locations or franchises, providing accurate and timely insights across the organization.
What’s Next?

In the face of the ever-evolving restaurant industry, having the right financial system is crucial for success. The Answer Company, in partnership with Sage Intacct, offers a solution that empowers restaurant businesses to adapt and thrive. With features like automation, integration, and real-time reporting, Sage Intacct provides the agility and insights necessary to stay competitive.

To find out more statistics and specific details regarding adaptability in the restaurant industry, read our whitepaper “Is Your Restaurant Financial System Helping You Remain Adaptable?” Additionally, you can contact one of our experts at The Answer Company to book a personalized demo today and reshape your restaurant industry.

By choosing Sage Intacct and The Answer Company, restaurant owners can overcome their financial challenges, streamline operations, and position themselves for long-term success in an ever-changing market.

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