The Insider’s Guide to Franchise Financial Management

Running the financial operations as a multi-entity franchisee comes with its fair share of challenges. As your organization grows, you face As your organization grows, you face it becomes harder to meet requirements such as faster closes, cleaner audits, deeper analyses, regulatory compliance, and multi-unit consolidations. Outdated or constrained financial software infrastructure often hinders your ability to overcome these challenges. However, Sage Intacct offers a powerful, flexible, and best-in-class financial management solutions that can transform how franchise operations increase efficiency, drive growth, and plan for the future. In this blog, we will explore each challenge and discover how Sage Intacct can revolutionize franchise financial management.

Problem: Spreadsheet Dependency

Spreadsheet dependency is a prevalent issue that many franchisees tend to overlook. While spreadsheets may have sufficed when you first started out, they become vastly underpowered as your business grows. Using fragile, insecure, single-user spreadsheets for complex tasks like multi-unit consolidations or cash-flow management can lead to lost productivity, questionable accuracy, and lengthy stares from auditors.

Solution: Bring efficiency to your franchise operations with Sage Intacct

Sage Intacct provides an effective solution to eliminate spreadsheet dependency and its associated risks. With Sage Intacct, you can say goodbye to the time-consuming and error-prone manual processes that drag down finance productivity. Instead of relying on spreadsheets, Sage Intacct offers smart, streamlined, and automated financial processes, including procurement, fixed assets, and intercompany transactions. It eliminates the need for spreadsheets while providing the flexibility to automate your workflows, resulting in increased efficiency and accuracy.

Problem: Lack of In-depth Insights

As your franchise operation grows, relying on basic financial statements becomes inadequate. To make informed decisions and gain real insights into business performance, you need accurate, timely, and detailed analyses. However, too many franchise operations find themselves trapped in a never-ending cycle of daily data extractions from multiple sources in various formats, resulting in outdated reports and frustrations.

Solution: Get in-depth insights, on demand, with Sage Intacct

Sage Intacct addresses the problem of limited insights by providing comprehensive, real-time financial reporting and analysis. With Sage Intacct, you have an up-to-the-minute picture of your entire organization, allowing you to create any report, dashboard, or visualization with the precise metrics that matter to your stakeholders. You can ask new questions, get immediate answers, and make confident decisions based on real-time data. This ability to access in-depth insights on demand empowers you to stay agile and respond quickly to changing business conditions.

Problem: Complex Multi-Entity Consolidation

Managing financial information across multiple units, geographies, and concepts can be a painful and time-consuming process. Manually collecting spreadsheets, checking formulas, converting currencies, and performing intercompany eliminations during the closing cycle leads to frustration and inefficiency, particularly as your franchise adds more locations.

Solution: Faster consolidations and more efficient closings with Sage Intacct

Sage Intacct simplifies multi-entity consolidation by helping you manage the finances of multiple units and concepts with a single chart of accounts. With just one click, you can consolidate your financials, automate intercompany transactions and eliminations, and close your books quickly. Sage Intacct also offers the flexibility to switch between consolidated and local views, allowing you to gain detailed insights by locations, concepts, sales categories, and time. This streamlined approach to consolidation saves time, improves accuracy, and enables you to capitalize on business opportunities.

Problem: Outdated, Inflexible Financial Software

Using outdated, one-size-fits-all financial software constrains your franchise operation’s ability to adapt to changing business requirements. On-premises software often involves significant upfront investments, lengthy implementations, static configurations, infrequent enhancements, and a significant maintenance and support burden.

Solution: Bring your finance operation to the cloud with Sage Intacct

Sage Intacct offers a cloud-based financial management solution that eliminates the constraints of outdated software. By adopting Sage Intacct, you can eliminate hardware costs and IT burdens while enjoying the advantages of modern financial software. The cloud-based approach provides lower costs, increased security, and enhanced productivity. With automatic quarterly updates, you stay up-to-date without the disruptions of costly upgrades. Sage Intacct also allows you to adapt your implementation to changing business requirements, ensuring your finance operation remains agile. Additionally, the scalability of Sage Intacct enables easy expansion as you add locations, vendors, and units, all for a predictable monthly fee.

What’s Next?

Franchise financial management doesn’t have to be a constant struggle. By leveraging the capabilities of Sage Intacct, franchisors can overcome the challenges of spreadsheet dependency, lack of insights, complex consolidation, outdated software, and data silos. With Sage Intacct’s powerful and flexible financial management solutions, franchise operations can increase efficiency, drive growth, and plan for the future. Say goodbye to sleepless nights and embrace a smarter, cloud-based approach to franchise financial management. To read more about how Sage Intacct is the right solution for your business, read our whitepaper “The Insider’s Guide to Franchise Financial Management Rising to the CFO Challenges” or book a demo with our experts today.

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