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CST: 21/08/2019 15:49:09   

S&L Companies Utilizes Sage to Scale Easily with 134% Growth While Cutting Monthly Close by 25%

125 Days ago

Largest Culver’s Franchise Group Deploys Sage Intacct’s Cloud Financial System, Improving Finance Productivity by 50 Percent and Securing Full Payback in 5 Months

ATLANTA, April 18, 2019 (GLOBE NEWSWIRE) -- Sage (FTSE: SGE), the market leader in cloud business management solutions, today announced that S&L Companies has utilized Sage Intacct, a solution available in Sage Business Cloud. The implementation of Sage Intacct allowed S&L Companies to improve finance productivity by 50 percent and cut its monthly close by twenty five percent, all while scaling easily despite 134 percent organizational growth. Based on business impact alone, S&L Companies estimates that switching to Sage Intacct paid for itself in the first five months of usage.

Founded in 1994, S&L Companies is the largest franchise group for Culver’s, one of the top burger restaurant chains in the United States. In the past five years, S&L Companies has grown to establish an additional 23 Culver’s across the country and added nine new partners. With such significant growth, S&L’s central finance team became strapped and found that their previous server-based accounting system was unable to produce the GAAP compliant, auditable financial statements necessary for larger bank loans. S&L Companies recognized that it was critical to move to a new, cloud-based financial management solution.

Tammy Getschman, the director of accounting at S&L Companies, began inquiring within her finance community and was referred by a local CPA firm to Sage Intacct. “We were looking for a cloud-based solution to tie all of our entities together so we could minimize duplicate intercompany journal entries and gain the ability to slice and dice our financials by state, by owner operator, or by property,” Getschman noted. “After looking at both systems, we were most impressed by Sage Intacct’s ability to easily consolidate our books and provide crucial transparency into profitability across restaurants.”

After implementing Sage Intacct, S&L Companies realized significant benefits, including:

  • Improved finance team productivity by 50%: S&L automated invoice approval workflows and eliminated the need to print and mail physical check payments.
  • Cut monthly close by 25%: Streamlined complex financial processes across several dozen operating and realty entities—from tracking individual restaurant expenses, to allocating common health insurance invoices across multiple locations.
  • Scaled easily despite 134% growth: S&L was able to grow rapidly despite the same number of staff managing double the workload.

“The faster we grow, the more difficult it becomes for our two majority owners to maintain a hands-on approach with each restaurant,” said Getschman. “With Sage Intacct, we can now organize financials any way they need and provide better insight into the profitability of certain locations or groups of restaurants. With Sage Intacct, we are able to filter our financials by region to see trends and analyze key figures to determine which regions are able to sustain growth or need attention.”

For more information on how S&L Companies uses Sage Intacct, view thefull case study. To learn about how Sage Intacct supports all types of franchise organizations, visit:https://www.sageintacct.com/franchise-accounting-software.

About Sage
Sage (FTSE: SGE) is the global market leader for technology that helps businesses of all sizes manage everything from money to people – whether they’re a start-up, scale-up, or enterprise. We do this through Sage Business Cloud – the one and only platform that customers will ever need, comprising Accounting, Financials, Sage Intacct, Enterprise Management, People & Payroll, and Payments & Banking.

Our mission is to free business builders from the burden of admin, so they can spend more time doing what they love – and we do that every day for three million customers across 23 countries, through our 13,000 colleagues and a network of accountants and partners. We are committed to doing business the right way and giving back to our communities through Sage Foundation. Find out more at www.sage.com/en-us.

Press Contact:
Peter Olson
Sage
408-878-0951
peter.olson@sage.com
http://www.twitter.com/PeterOlsonPR

 

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