The Insider’s Guide to Franchise Financial Management Rising to the CFO Challenges

When migraines and insomnia feel like prerequisites

Few care to admit it, but the truth is undeniable: Running the financial operations as a multi-entity franchisee will never be easy. Your company is turning to you for financial leadership, but as you add more locations and concepts and your organisation grows, so do the challenges. How will you deliver the faster closes, cleaner audits, deeper analyses, regulatory compliance, and multi-unit consolidations that you need to manage and accelerate your growth? When you add it all up, the headaches and sleepless nights are almost inevitable. 

The fact is, the financial infrastructure that worked so well when you started out likely can’t scale up as you grow. If outdated 

or constrained financial software infrastructure has held you back, it’s time for a better way. Sage Intacct offers powerful, flexible, best-in-class financial management solutions that are transforming how franchise operations increase their efficiency, drive growth, and plan for the future. 

In the following pages, you’ll read about the secrets of successful franchisee CFOs—the tips that take away the headaches and help them sleep at night.

Say goodbye to spreadsheets

Spreadsheet dependency—it’s the addiction no finance pro cares to acknowledge. But its prevalence is understandable: After all, the spreadsheet is the easy, multipurpose tool that everyone already knows how to use.
But, while you may have relied on simple spreadsheets to get
up and running quickly with your first few units/locations, spreadsheets are vastly underpowered as you’re your business grows. The fact is, too many franchisees take needless risks by using fragile, unsecure, single-user spreadsheets for complex tasks like multi-unit consolidations or cash-flow management. The impact: lost productivity, questionable accuracy, and lengthy stares from your auditors.

Bring efficiency to your franchise operations
With Sage Intacct, you can say goodbye to the time-consuming, error-prone manual processes that drag down finance productivity. Replace the “million spreadsheet march” with smart, streamlined, and automated financial processes, including procurement, fixed assets, and intercompany transactions. Sage Intacct has the flexibility to automate your workflows—without a spreadsheet in sight.

“Sage Intacct had an immediate
impact on our business, solving many of the problems we had with financial management and helping to streamline processes to make managing our business far easier than before.”

Brian Singleton, CFO, Fitness Formula Clubs

Results: streamlined across 15 entities, easily create custom reports, and eliminate need for IT support

Improve the speed and accuracy of your reporting

Even an entry-level financial system can churn out the basic financial statements. But as your franchise operation grows, you’ll want—and need—much more: accurate, timely, and detailed analyses that go far deeper for real insight into what’s driving business performance.
Unfortunately, at too many franchise operations, that translates into a never-ending cycle of daily data extractions from multiple sources in multiple formats with multiple data definitions. What’s more, manually creating the calculations and summaries after the data is collected requires additional time and effort. By the time you’ve got it all together—and burned days of time—the reports are out of date, the questions have changed, and the frustrations have begun anew.

Get in-depth insights, on demand

Sage Intacct gives you comprehensive, real-time financial reporting and analysis so you have an up-to-the-minute picture of your entire organization. Create any report, dashboard, or visualization you need with the precise metrics that matter to your owners, lenders, executives, and store leaders. Ask new questions, get immediate answers, and make confident decisions.

“The faster we grow, the more difficult it becomes for our two majority owners to maintain a hands-on approach with each restaurant. With Sage Intacct, we can now organize financials any way they need and provide better insight into the profitability of certain locations or groups of restaurants. With Sage Intacct, we are able to filter our financials by region to see trends and analyze key figures to determine which regions are able to sustain growth or need attention.”

Tammy Getschman, Director of Accounting, S&L Companies

Results: cut monthly close by 50%, scaled easily despite 134% growth, and software paid for itself in 5 months

Consolidate with confidence

When a growing franchise operation has multiple units, geographies, and concepts, bringing all financial information into a unified, cohesive view can be painful and slow. Manually collecting spreadsheets, checking formulas, converting currencies, performing intercompany eliminations—it all adds up to a frustrating, lengthy closing cycle. And as you add locations, the challenge becomes exponentially greater.

Faster consolidations and more efficient closings

Sage Intacct helps 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 lets you switch between consolidated and local views for detailed insights by locations, concepts, sales categories (e.g. meal type), and time. And Sage Intacct lets you compare location performance frequently to get insights on comparative performance, capitalize on business opportunities, and take corrective actions faster.

“With Sage Intacct, we gain real-time visibility into the consolidated and detailed numbers of our business. We can compare results between our stores over time and quickly react to changing conditions.”
Sandy Ritter, Controller, Buffalo Wings & Rings

Gain new levels of speed and agility

No two franchising operations are alike, so there’s no reason
for you to endure the constraints of outdated, one-size-fits-all financial software. With on-premises software, you’re trapped by major upfront investments, lengthy implementations, static configurations, infrequent enhancements and new features,
and a significant maintenance and support burden. But franchisees thrive when they have the agility to adapt to business fluctuations—without waiting months for IT to make changes. You need to keep pace with changing reporting requirements. And you want a system that’s tailored to your unique workflows and business processes.

Bring your finance operation to the cloud

It’s different in the cloud. With Sage Intacct, you eliminate the hardware costs and IT burdens while your business enjoys the advantages of modern financial software. That means lower costs, more security, and increased productivity. For instance, you receive automatic, quarterly updates—without the disruptions of costly upgrades.
Sage Intacct lets you adapt your implementation—including functionality, reports, and analyses—to stay in step with your changing business requirements. You sidestep the painful capitalinvestments and tap into the power of sophisticated, high-performance financial software that’s managed by experts in a world-class data center. And when you add locations, you’re using the same software solution, the same chart of accounts, the same vendors—so it’s easy to scale up as you grow.
The result? You get to focus on financial management and business performance while Sage Intacct takes care of the software management and infrastructure—all for a single, predictable monthly fee.

“Unlike NetSuite, Oracle, or other premises-based software that would require us to reorganize our business around a static solution, Sage Intacct’s applications mirror our own unique processes.”
~ Robert Wilson, President, Fast Eddie’s

Find out more by downloading the whitepaper below.

Future-proof your business with Akuna Solutions

As an accredited and awarded Sage Intacct reseller, we view our clients’ success as our own and are dedicated to helping them find their way forward. Offering ongoing support, training, and resources ensures that our clients maximise the benefits of Sage Intacct and stay abreast of the ever-evolving business landscape.

Having implemented Sage Intacct for many businesses in ANZ across diverse industries, our experience spans areas such as Software and SaaS, Family Offices, Non-profit Organisations, Financial Services, NDIS and Human Services and many other industries.

Email us at Akuna Solutions for a free consultation and explore with a Sage Intacct implementation specialist how to leverage modern technology available today to future-proof your business operations.