Mancha Development Company manages back office costs to improve financial functions and support continued growth.
The restaurant business is getting tougher and tougher, with costs rising due to ever-increasing regu- latory scrutiny, growing labor costs and a customer that consistently demands a unique dining experience. Franchisees face many challenges when it comes to dealing with costs, and one of these includes streamlin- ing back office processes, to mitigate issues with accuracy and timeliness. Despite managing dozens of loca- tions, some franchise groups still have accounting processes that resemble those of “mom and pop” stores rather than the engines of emerging businesses. This is especially apparent among fast-growing franchises.
With IQ BackOffice, Mancha Development Company improved their timeliness and accuracy, especially with regards to getting financial statements out to the business leaders of the company. Mancha Development Company CFO, Brent Dunkin says, “Previously, Man- cha Development Company was closing the books in 3 -4 weeks after the end of a period; however, in the last couple of periods, we’re nailing it down to approximately one week, thanks to outsourcing these functions.” As a result, Mancha Development Company has used information collected from better processes to support future business decisions. For example, management has been able to focus more on food and customer experience. “We need to focus on our restaurants instead of questioning our data and now we can do that,” Dunkin said. With an eye on continued growth, IQ BackOffice will work with Mancha Development Company to trim costs and develop a more scalable model for their data collection and accounting processes.
For the full article please click Denny’s Franchisee Association Forum Summer 2015 Featuring IQ BackOffice v2