SAN JOSE, Calif. – Jan. 16, 2018 – Sage Intacct, the innovation and customer satisfaction leader in cloud financial management software, today announced that NWO Penn Acquisition LLC, an investment group that owns several Penn Station East Coast Subs franchises, deployed Sage Intacct to streamline processes and achieve timely financial visibility in preparation for franchise expansion.
NWO Penn Acquisition turned to Sage Intacct partner WVC RubixCloud to help the firm gain faster, more accurate insight for improved decision-making. By connecting Sage Intacct with the franchise owner’s point of sale system, as well as with Bill.com and ADP, WVC RubixCloud improved NWO Penn Acquisition’s accounting efficiency by more than 25 percent and shortened its monthly close by one week.
A new case study published today highlights the benefits this Penn Station franchise group has achieved with Sage Intacct’s cloud financial management solution. Highlights of their success are provided below and the full customer profile is now available for download here.
NWO Penn Acquisition’s Results with Sage Intacct:
- Laid foundation to help Penn Station franchise business scale
- Saved GM hours each month to redirect into strategic work
- Slashed monthly close cycles by nearly two-thirds
- Eliminated duplicate data entry and manual reporting, saving upwards of 20 hours of work per month
Highlighted Comments from David Hammack, President and Owner, NWO Penn Acquisition:
“In preparation for our continued growth, we needed to transform expensive, manual tasks into efficient, automated, integrated workflows that could scale with us over time. We wanted adaptable financial management software that was well-suited for a franchise business like ours, and chose Sage Intacct for its multi-entity, multi-dimensional general ledger approach.”
“Overall, the biggest improvement since we switched to Sage Intacct is the higher-quality information we can leverage to positively impact our gross margin. With complete, immediate transparency, we no longer need to dig through paper files or log into multiple systems to find transaction details. The visibility and drill-down capabilities we have with Sage Intacct are better than I’ve seen in any other system.”
“Sage Intacct has opened up a world of new possibilities for our business. A year ago, if you’d asked me whether we would grow up to six stores, with plans to build many more, and look at new franchise concepts and cities to add, I’d have said we could never scale at that pace using our old system and processes. With Sage Intacct, I have full confidence the solution will be able to handle our accelerated growth because we have more bandwidth to evaluate new franchise opportunities, and more informative data with which to do so. We can easily compare new concepts to real data, rather than relying on just the projected information that’s included in franchise disclosure documents.”
“I no longer need to spend an hour writing checks every week or worrying about whether our books are tying out at a high-level. Now that we’re on Sage Intacct and Bill.com, everything’s automatically reconciled and I just spend 15 minutes or so approving financials and payables – a substantial time savings in my busy schedule. We’ve removed all of the mundane impediments from our financial processes, which allows me to give my team more autonomy and focus on higher-level strategic thinking.”
“We’re probably avoiding tens of thousands of dollars in finance personnel costs each year because we have a strong foundation like Sage Intacct and great outsourced accounting services – that’s a significant savings for a company of our size.”