Franchisees and multi-entity organizations (e.g. restaurant management companies) face many financial reporting challenges, including:
- Inability to enforce consistency and financial reporting standards across the organization
- Lack of visibility across entities
- Too much manual consolidation of financial data using Excel. This can lead to errors and, more importantly, delay timely access to information.
- Difficulty in managing growth
- Inefficient efforts to control costs related to the purchasing of supplies and inventory
Intacct solves these challenges and more. Its unique multi-entity, shared database architecture allows all of your entities to operate totally independent of each other, if needed, yet they can optionally share the same chart of accounts and lists of vendors, customers, projects and more.
This offers several huge advantages to any multi-entity organization:
- It ensures consistency across your reporting and allows you to easily see, for example, how much you are purchasing across your entire organization from any given vendor so that you can negotiate better pricing.
- Consolidated reporting is automatic. With just a few mouse clicks, you can consolidate information at any level (e.g. regional, product line, corporate, etc.). Furthermore, you can consolidate more than just your financial data. For example, you can easily see on one report, the current cash balance of every entity.
- Real-time Information is at your fingertips. Whether you want to look at just one entity or across your entire organization, Intacct’s easy-to-create, user-specific Dashboards give you quick, timely and complete visibility into your operations. They can provide the key metrics and reports that your managers and supervisors need on a daily basis. And since Intacct is a true cloud application, these dashboards can be accessed any time, from anywhere, using any internet enabled device including smartphones and tablets.
- The ability to automatically allocate costs across entities and generate inter-entity transactions. This increases efficiencies and allows for more accurate costing.
- The ability to grow quickly and easily. This is where Intacct really excels. Because of the multi-entity, shared database, new entities can be set up instantly, automatically inheriting centralized process definitions. You can literally cut checks the same day the new entity is turned on.
For more information on how Intacct can help your multi-entity organization contact email@example.com or James Meyer at (517) 886-9513.
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