Successful franchise organizations often experience growing pains as they begin to push the boundaries of entry-level accounting systems. Basic accounting software only takes businesses so far before limitations begin to cause problems. Then, accounting teams rely on spreadsheets to manage key data, such as payables, inventory and sales putting accurate insight out of reach for franchise CFOs.
A growing franchise needs instant access to reliable information to nurture continued success. The ability to make quick decisions is necessary as new challenges and new opportunities arise. When each franchise location, and the central office, relies on different accounting systems—this is nearly impossible.
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- Greater control and insight over financial activities: Centralized data provides managers from across the organization an end-to-end view of the business. Dashboards highlight key performance indicators that managers at each level can use to identify trends, improve productivity, reduce waste and boost profits.
- Multi-company consolidations: Microsoft Dynamics GP was designed to address the challenges of multi-company operations. This single solution can be used at each franchise location to centralize data and automate allocations and consolidations from across the organization.
- Integrations improve data flow: Information from sales, payroll and point of sales (POS) systems is easier to enter, access and analyze within a centralized solution. Data flows seamlessly across the organization to deliver a comprehensive financial picture.
- Efficient purchasing and invoicing processes: Instead of manually scanning and sending invoices to the central office, data can be easily entered into Microsoft Dynamics GP allowing instant approvals and timely payments. Automations eliminate bottlenecks and support the financial team as they work to control expenses and save money.
- Robust financial reporting: Decision-making becomes increasingly complex with every new location. District and regional managers need to be able to monitor performance and act quickly. Dashboards, robust reporting, and other business intelligence (BI) features within Microsoft Dynamics GP deliver comprehensive information to key decision makers. View the ‘big picture’ metrics and dig deeper into details to identify trends, understand exceptions and find new ways to drive growth.
Nurture Continued Franchise Growth with a Centralized Financial Management System
The wrong accounting system could be putting your business and profits at risk. Steer your franchise toward success by replacing inefficient accounting systems with a modern, centralized financial management system.