You’ve worked hard and built your business from the ground up. Maybe you own a few restaurants, or have a medical or dental practice with two or more offices. With just one or two locations to manage, you probably used the time tested method of MBWA – Management by Walking Around:
However, as your business grows, it becomes more and more challenging to cover every location. As a result, you need timely, accurate information to make key decisions about your business.
Most companies at this level use the QuickBooks solution for their accounting and finance needs. For a couple of locations, QuickBooks can do the trick. However, as you grow, QuickBooks is just not designed to scale. For a growing organization, multiple locations mean multiple QuickBooks databases-making it increasingly difficult to get the information you need.
Most owners with multiple locations and offices use spreadsheets to see the information they need across all of their locations. From these spreadsheets they will then import the data from each file into QuickBooks and then manually pull it all together. The more complex your reporting needs are, the more spreadsheets. What happens if there is a last minute change to one of your locations’ numbers? You need to repeat the same process over and over again. Not only is this process manual, time consuming and inefficient, but it also opens up your organization to errors. With this method, one mis-typed number into a spreadsheet can taint your entire report and lead to another run-through to correct this process. After you’ve completed this tedious, manual spreadsheet work and gotten a report you need, it’s already the 15th or 20th of the month. How can you manage and grow your organization with data that is almost a month old?
Is there a better way? Yes. Moving your finance and accounting systems to a software like Sage Intacct can help make the difference.
Sage Intacct gives you comprehensive, real time financial and operational reporting across all of your locations and offices. Gone are the days of multiple, error-prone spreadsheets and in are the days where you can track key operational information, such as patient or guest visits, right in one system.
With a single click you can consolidate a series of offices or locations, automatically eliminating inter-location or company transactions.
Sage Intacct can also easily integrate with your billing or point of sale systems. With this there will no longer be a need to manually rekey data each week.
To see an example of this you can look at one of our clients, British Beer Company (BBC). This multi-location organization had a real challenge on their hands. BBC, which manages 14 pubs across New England, as well as a host of real estate ventures, was just about drowning in paper as they managed all of these different businesses. CEO Gary Simon said:
“When I asked for a report to help me isolate a business issue, I literally got a stack of paper 18 inches deep from our QuickBooks system. To perform some analysis, I would have separate stacks of paper for each location and go back and forth between them. These reports required significant amounts of my valuable time to wade through and, in the end, had little or no value.”
Once they implemented Sage Intacct across all of their pubs and other entities, Gary had this to say:
“With Sage Intacct, we are able to focus on the strategic issues facing our business in a very competitive environment. Now each day, instead of our teams wading through stacks of paper, I open up my laptop and immediately see trends in real time. With just the click of the mouse I can now answer all of my questions in seconds.”