Optimizing Franchise Accounting Functions
Optimizing Franchise Accounting Functions – Franchising is a proven business model within multiple industries. From fast food to auto repair, from fitness centers to home cleaning – franchises are booming.
When you purchase a franchise you benefit from an operational system designed to be easily implemented and executed. You know what to do, and more importantly, how to do it. The idea is not to reinvent the wheel. Franchise owners have compliance directives. They can take advantage of economies of scale and often access a proven, defined supply chain. They don’t have to spend time researching, performing due diligence and developing professional relationships for key areas of their business.
But often this is not the case for the financial accounting processes within a franchise.
There may be some exceptions out there, but for the most part, the who, what, how, and why of financial accounting within a franchise is nowhere near as defined, documented, and systematized as the other aspects of the business.
Financial accounting and reporting can develop into a chronic problem area for franchise owners. And, when you consider that the strategic plan for many franchise owners includes acquiring or opening multiple locations – the problem only gets more complicated.
Even businesses that aren’t franchises run into problems when they begin to add multiple locations. Growth through acquisition can bring a chaotic collection of tracking, reporting, payment, and reconciliation processes. Then there’s the issue of consolidated reporting.
Optimizing Franchise Accounting Functions – The right technology partner brings order to chaos.
Express Information Systems has over 27 years of experience in business and software consulting that we bring to solving your challenges. Ours is not a one size fits all approach. We listen and then present you with a solution that satisfies today’s challenges but also positions you for the future.
What do our clients say? We’re proud to share this response from Marina Young of Little Caesar’s, “I can’t imagine not working with Express Information Systems and working without the tools they provide, in order to get the workload done, I don’t think it would be possible…I always feel like I have a team behind me and I’m not out there by myself all the time.”
We’re pleased to offer you a white paper, “Next Generation Financial Consolidations,” as a resource. You can also read more about how we help Little Caesar’s.
If you’d like to bring order to your financial accounting and enjoy accurate and timely reporting to aid your decisions, please get in touch with us – we’d love to speak with you.