If you run one small business, with one location, you might be able to get away with using QuickBooks and Excel to meet your very basic accounting and financial management needs, at least until your business starts to grow. But if you have a multi-entity business—such as breweries, restaurant chains, and franchisees—you need a less complicated and time-consuming way to manage all your locations.
That’s why many businesses that operate multiple locations switch to cloud-based financial platforms like Sage Intacct that can dramatically streamline and simplify financial management—which means less time worrying about accounting and more time focusing on growing the business.
To help decide if Sage Intacct is for you, ask yourself these four questions.
How much time do you spend on month-end close?
One restaurant franchisee reports that they were spending nearly three weeks a month on closing the monthly books when using QuickBooks. If you are spending anywhere near that much time, it’s too much. Sage Intacct streamlines monthly close times no matter how many locations you have, which saves time and money every month.
How quickly can you produce reports?
If it takes a full day’s work to produce a monthly balance sheet, you need a better way. With Sage Intacct, consolidated reporting—across locations, product lines, etc.—is automatic, and you can tailor reports to your needs. Doing away with manual report creation saves time and ensures that the reports you’re creating are insightful and accurate.
Do you have visibility into every location?
It’s critical to be able to see, in real-time, key metrics at every location. For instance, if you know how much all your locations are purchasing from a single vendor, you might be able to use those details to negotiate a better price. Insights like those require a consolidated view across all your locations, which is made simple with a cloud-based financial management solution.
How hard would it be to add another location?
Accounting hassles should not get in the way of your business growth. Because of the shared database in Sage Intacct, you can set up a new entity in minutes, adding it into the existing system with its centralized process definitions. Sage Intacct also integrates seamlessly with many point-of-sale (POS) systems, which further simplifies growth.
The Sage Intacct experts at Michaud Accounting Solutions can help you explore the features and benefits of cloud-based financial management solutions. We work with many multi-entity businesses to streamline their accounting processes so they can invest more time in business growth.