Customer Story

Planet Fitness franchisee saves $100,000 annually and shifts 50% of bookkeeping efforts into forward-looking analytics with Sage Intacct

Alder Partners LLC triples growth rate while cutting monthly close time in half by implementing modern, cloud accounting software

We looked at Microsoft Dynamics GP and Oracle NetSuite, but chose Sage Intacct because it had everything we needed in one, easy-to-scale solution. We were impressed with its ability to handle many different entities and location groups with streamlined inter-company transactions and consolidations.

November 13, 2019 –  Alder Partners, an independent franchisee of Planet Fitness, operates 20+ gyms and serves over 147,000 members across Massachusetts and Georgia. Once Alder Partners reached six clubs in 2014 and set a goal for continued 30-40 percent annual growth, its owners realized they needed to centralize financial management in order to scale efficiently.

Alder Partners leveraged Sage Intacct to avoid $100,000 annually in additional salary costs, improve confidence in cash forecasting and budget accuracy by 10%, and shift 50% of their finance team’s time into forward-looking analytics. Sage Intacct has also given Alder Partners insight into each franchise location’s profitability, ensuring that the organization has the borrowing capacity to achieve its five-year growth objectives.

Prior to Sage Intacct, Alder Partners had each location set up as a separate business running independent financial processes, which resulted in a lack of comprehensive consolidations and real-time visibility across all gyms. They needed to centralize financials and implement a robust system that could support an audit-ready, multi-entity financial close.

“We looked at Microsoft Dynamics GP and Oracle NetSuite, but chose Sage Intacct because it had everything we needed in one, easy-to-scale solution,” remembers John Kalinowski, Alder Partners’ controller. “We were impressed with its ability to handle many different entities and location groups with streamlined inter-company transactions and consolidations.”

After implementing Sage Intacct, Alder Partners’ finance team realized significant benefits, including:

  • Increased budget accuracy: By using Sage Intacct’s dashboards, John estimates the company’s budgets are at least 10% more accurate and its cash flow forecasting has improved, because he can easily track actuals-to-budget for specific entities and re-forecast every six months.
  • Avoided $100,000 in salaries: By using the software to automate previously manual financial processes – like managing inter-company reconciliations, recording hundreds of daily cash transactions, entering payroll, and allocating invoices across locations – the finance team saved at least 1.5 full-time employee equivalents they would’ve needed to manage 29 different entities.
  • Cut monthly close time by 50%: Despite tripling in size, Sage Intacct helped cut the monthly close process in half, allowing John to free 50% of his time from day-to-day accounting tasks for more forward-looking business analysis.

“Before we adopted Sage Intacct, we were running blind since it just wasn’t possible to do any kind of real-time analysis,” Kalinowski says. “Now, we’re constantly measuring and optimizing year-over-year same store sales, various marketing campaigns, each of our five main revenue categories, and the ramp cycle for new gyms – the visibility we have with Sage Intacct is like night and day compared to QuickBooks.”

For more information on how Alder Partners uses Sage Intacct, view the full case study.

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.

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