Greenhorn’s Guide to Financial Reporting Software for Franchises

Greenhorn’s Guide to Financial Reporting Software for Franchises

Looking for financial reporting software for franchises, but not quite sure where to start?

Today’s post is for you. Read on for a beginner-friendly overview of what to look for when shopping for financial reporting solutions for your enterprise. After a layman-level definition, we explain exactly what your software should be capable of, and what features are non-negotiable in 2019.

Financial Reporting Software for Franchises: Basics Goals and Objectives

Financial reporting can be defined as the communication of published financial statements and related information from a franchise to third parties, which can include shareholders, creditors, customers, government authorities, prospective franchisees, and members of the public.

As such, the best financial reporting software for franchises puts a primacy on clear communication. Your chosen software should provide a complete solution in this regard, which means streamlining communications between the issuer; the investors and creditors as primary users; other external users; the accounting profession as measurers and auditors; and the company law or administrative authorities.

FranchiseSoft is peerless in this regard. In addition to an intuitive internal messaging system that allows SMS, email, sharing of reports and invoices, phone calls, and more from a single UI, our solution integrates seamlessly with third party financial software, including PayPal, Authorize.Net, DocuSign and QuickBooks.

But obviously communication is not the sole objective of financial reporting software for franchises. As such, it should not be the sole criteria.

As you evaluate different options on the market, make sure your chosen financial reporting software for franchises also:

  1. Improves investment decision-making. The basic goal of financial reporting software for franchises is to give investors, franchisors, creditors, and other users the information they need to make sound investment decisions regarding the allocation of funds and the selection of investment opportunities.

    Our solution is designed with informed decision-making in mind. As part of our Franchise Management module, you can track all active franchisees, generate key summary reports, and review real-time system summary charts at-a-glance. Our Franchise Performance module gives you anytime, anywhere access to all financial information regarding royalties, ACH integration, collection of P&L data, and more. Altogether, our financial reporting software for franchises makes it easy to pinpoint threats and opportunities, maintain uniform standards of measurement, and monitor marketing campaign budgets, whether you’re operating from the single-unit owner or executive level.
  2. Increases management accountability. The second basic objective of financial reporting software for franchises is to keep managers accountable and provide information that optimizes the use of resources.

    Franchisees need to be held accountable, not only for the safekeeping of enterprise resources and brand reputation, but also for their compliance with franchise standards and performance goals. Our franchise and fee tracking tools are totally customizable and easily parsed, and our Franchise Performance module makes it easy to keep your team accountable at all times.

Other Essential Features For Financial Reporting Software For Franchises

  • Complete reporting–stop relying solely on Balance Sheets when they cannot tell the whole story
  • Cash flow reports–give the “zor” and “zee” access to powerful cash flow reports that keeps both parties informed and proactive
  • Cloud-based software–Cloud software is safer, easier to share, and more efficient than the offline alternatives
  • Custom benchmark capabilities–every business is different, so benchmarks need to be 100% customizable

Ready to discover all that our financial reporting software for franchises has to offer? Visit https://franchisesoft.com/ or call 888-302-3676 to book a free consultation with a member of our team.

The Secret to Operational Optimization: Franchise Employee Management Software

The Secret to Operational Optimization: Franchise Employee Management Software

What’s the secret to optimizing your business or franchise operations?

As it turns out, it’s no secret at all–or at least that’s what a horde of business bloggers would have you believe. A quick Google search for “operational optimization tips” yields about 13,600,000 results in half a second, many of blogs promising that their top-5 tips and 10-step plans have all you need to end your business woes.  

Interestingly, while they’ve all got wildly different answers, it turns out that most of these articles read as unspoken endorsements for franchise employee management software. Don’t worry–we’ll explain.

Today’s post reviews some of the most common tips and best practices for operational optimization, then highlights how franchise employee management software automates and streamlines all these proposed solutions.

Reviewing The “Secrets” To Operational Optimization

ClickTime is a popular blog focused on productivity hacks, employee performance, and productivity management. Naturally, then, we find a number of useful tips there for optimizing employee’s daily workflow routine.

Author Emily Heaslip suggests the following:

  • Streamline Or Automate Regular Tasks. “Some of the biggest time sucks in an office are the routine tasks that come with being part of a growing organization,” Heaslip writes. So true! She cites time tracking and accounting processes as productivity-killers, and recommends seeking tools and platforms to help reclaim these lost work hours.

    Here we see that FranchiseSoft’s franchise employee management software is the perfect fit. Scheduling, time tracking, accounting processes, email replies, workflow events, lead generation, reporting, and data entry tasks can all be automated to free up your staff for more valuable work.

  • Cut Down On Meetings. “In one study, US professionals reportedly attend over 60 meetings per month, in which more than 91% of respondents spent the meeting time daydreaming,” Heaslip writes. That’s a lot of wasted time and workflow interruptions, and for what? More often than not, meeting contents can be covered by sharing some documents or reports via your personal Intranet library. Alternately, you can keep your team connected and coordinated around the clock using our franchise employee management softwares multi-platform internal messaging system. This allows employees to instantly send messages to confirm service times, troubleshoot problems, share client contact information, and whatever else you’d normally spend meeting time doing, all without leaving the job site or breaking the workflow.

  • Delegate And Empower Decision-Making. Heaslip says one of the fastest ways to optimize your employee’s daily routine is to “empower them to complete their tasks without roadblocks.”

    Our franchise employee management software makes it easy to hands your staff the reins without any worries. For instance, our scheduling tool allows complete staff control of work calendars, with systems in place to prevent any unapproved overtime, conflicts, or absences.

Surprise, surprise–all 3 of these operational optimizations call for quality franchise employee management software.

Learn More about Optimizing Operations with Franchise Employee Management Software

Process optimization is critical for your business’s ongoing success and sustained competitive advantage.

How will you improve operations this year?

The choice is yours:

You can comb through 13,600,000 articles about how to optimize your operations, then manually implement their suggestions, one by one, experimenting with what works and what doesn’t. Or you can install franchise employee management software today and start leveraging proven optimization features for instant improvements.

The first option gets harder over time, as you eventually run out of suggestions and have to dig deeper; in contrast, the second option only gets easier, as employees get more comfortable with the solution and new features are developed.

If you want to learn more about FranchiseSoft, visit https://franchisesoft.com/ or call 888-302-3676 to book a free consultation with a member of our team.

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