At the heart of every tech-savvy franchise is a strong business model. It’s what supports the franchise idea, and makes it great. However, when up and coming franchises suddenly reap the benefits of a strong business model their owners must engage in best practices to manage the many changes that accompany the growth.
We’ve worked with enough rapid expansion, multi-location and tech-savvy businesses to know the key areas that suffer the most when it comes to scaling with success.
Accounting Systems Squeeze
As these companies expand to more than one location, their accounting teams feel the heat first. Often times, accounting departments that started small are still working with the same spreadsheet systems, modified with workarounds and pivot tables to accommodate data that has increased in size and complexity. Closing the books takes far too long, consolidations are tedious and slow to complete, and financial and operational teams don’t always have the up-to-date information they need from Finance when they need it to make critical business development decisions.
Accounting teams with outdated and ill-fitting systems invite the potential for increased errors and reduced productivity as a result of redundant manual data entry, Excel spreadsheets dependence, and stagnant systems being used for their closings, reporting, and consolidations.
Disconnection Between Departments and Systems
As businesses outgrow their current systems, they begin to see stressors in all their other departments outside of finance as well. With growing workloads and increased systems complexity, these franchises experience workflow disconnection and bottlenecking where they need to see unified collaboration on projects, up-to-date inventory and customer subscription information and more communication between departments and locations.
Their teams need to work more closely together to streamline efficiency and improve communication.
Solutions Built from Growth Expertise
Tech-savvy franchises really need a comprehensive systems improvement that integrates with their current processes, bridges the gaps between departments, supports company growth without having to add more staff, and streamlines the workday for everyone involved.
Discover how you can step into tried-and-true working systems that save time, improve communication, protect your data, and reduce tasks that erode your team’s time and productivity.
Do one thing today to get the ball rolling. Take advantage of our free ebook to discover best practices from leading franchises that have been there and done that.
You will get the information you need to take steps toward greater efficiency to support your franchise expansion and take your business to the next level.