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  • Rapidly Growing Franchise Prepares for Continued Expansion

    Challenges: Rapidly Growing Franchise Prepares for Continued Expansion According to Entrepreneur Magazine, HomeVestors of America® is one of the country’s fastest growing franchises. The company helps its franchisees build their real estate portfolios by acquiring homes at discount prices, renovating them, and then either selling them to home buyers or renting them. Since its founding in Dallas, Texas nearly 30 years ago, HomeVestors has expanded to more than 800 franchises and [...]

    Planet Fitness Franchisee Grows 3X While Saving $100,000 Annually

    Challenges: Getting in Shape with a Scalable, Multi-Entity Financial Foundation An independent franchisee of Planet Fitness, Alder Partners, LLC has expanded rapidly over the past decade, opening three or four new clubs every year. The group currently operates over 21 gyms across Massachusetts and Georgia, serving over 147,000 members. In the early days, the partners ran each location as a separate business with independent financial processes and its own chart of accounts in [...]

    Restaurant Franchisee Hits the Limits of QuickBooks

    Challenges: Restaurant Franchisee Hits the Limits of QuickBooks QuickBooks was a reasonable accounting solution for Laird Management when the family-owned company ran a handful of Burger King restaurants across Arizona. But as the franchisee added new Burger King locations, managing the books became the equivalent of a frenzied and never-ending lunchtime rush for the accounting team. By 2015, Laird had 28 restaurants broken out as 17 operating entities. Each entity had its own [...]

    Gaining Agility to Scale Up and Down with Market Changes

    Challenges: Gaining Agility to Scale Up and Down with Market Changes More than a dozen years ago, European Paving Designs Inc. (EPD) was an early adopter of cloud-based financial management software when its finance team had the foresight to replace QuickBooks and paper-based processes with Sage Intacct. “We wanted to be more forward-thinking with technology than other construction organizations because we knew the cloud would help all of our remote field workers communicate [...]

    Global Hospitality Firm Nets $800,000 Worth of Time Savings

    Challenges: Benchmark Consolidates on Sage Intacct After a Merger A pivotal moment in Benchmark’s evolution came when Benchmark merged in 2016 with Gemstone, a full-service hotel management company specializing in upscale hotels and resorts. The newly merged company needed to consolidate financial management on a single platform and faced a decision: Benchmark ran a hospitality-specific accounting and financial reporting solution called Aptech, while Gemstone had been running Sage [...]

    In Search of Multi-Entity Capabilities to Manage Growth

    Challenges: In Search of Multi-Entity Capabilities to Manage Growth After starting as a golf course, the Tetherow Resort in Central Oregon has expanded rapidly over the past decade. It now features tournaments, restaurants, vacation homes, residences, an event center, and more. The organization operates twenty individual entities that roll up into three wholly owned subsidiaries—a complex business structure that was previously managed using a combination of Jonas restaurant [...]

    In Search of Trusted Financial Data

    Challenges: In Search of Trusted Financial Data to Reduce Uncertainty and Increase Agility As the off-reservation economic development arm of the Hopi people in Northeastern Arizona, the Hopi Tribe Economic Development Corporation (HTEDC) runs seven diverse service entities. The organization gets several revenue streams from its motels, restaurants, and shopping centers, and also manages about two dozen non-operating, undeveloped proprieties. After a decade of using basic QuickBooks [...]

    Iconic Film Studio and Real Estate Business Automates Finance

    Challenges: Easing the Challenges of a Diverse Multi-Entity Business The family-run Raleigh Enterprises was originally started as a general contractor and development firm, and over the past six decades has participated in all facets of real estate. One of its flagship investments, the historic Raleigh Studios, was home to film industry icons such as Charlie Chaplin, Douglas Fairbanks, and Mary Pickford. In addition to film and television studios, the company today operates more than [...]

    HoganTaylor LLP Improves Budgeting Efficiency

    Challenges: Budgeting in Excel was not efficient HoganTaylor LLP upgraded to Sage Intacct in early 2018 providing the efficiency and scale that the finance team needed after a merger with JPMS Cox added 75 employees. That acquisition helped HoganTaylor make Accounting Today’s Top 100 Firms list for the first time, in 2019, and expanded its workforce to 350 professionals today. The finance team also gained the flexibility to support a new technology-focused subsidiary that offers [...]

    Optimum Employer Solutions Saves up to 50 Hours a Month

    Challenges: HR Management Firm Seeks Scalability Amid Rapid Growth With rapid growth came complexity and challenges for the small accounting team at Optimum to manage. An entry-level QuickBooks system, hosted by a third-party network provider, couldn’t handle financial consolidation and intercompany transactions across Optimum’s multiple business entities. The accounting team was forced into hours of tedious manual work in Excel, while troubleshooting imbalances consumed even more[...]