Customer Case Studies

Laird Management


Issue link:

Contents of this Issue


Page 0 of 1

© 2018 Sage Intacct, Inc. All rights reserved. 877-437-7765 Company Overview A family-owned company with about 650 employees, Laird Management is one of the largest Burger King franchisees in Arizona, with 32 restaurants. It's also branching out as a new franchisee of Anytime Fitness, a global chain with more than 4,000 franchised gym locations. To learn more, visit Executive Summary Previous Soware: • Intuit QuickBooks, Excel Results with Sage Intacct: • Monthly close time reduced from 20 days to 10 • Reporting time cut from 10 hours to two • Report types expanded from two to ve • Scalability to add new restaurants, expand into tness 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 oper- ating entities. Each entity had its own QuickBooks instance with separate log-ins, with no single chart of accounts across the company. "It was very cumbersome to do accounting in the old days," said Pam Bakker, Laird's controller and HR director. "You couldn't easily consolidate or reconcile 'due to' and 'due from' transactions, and reporting was a nightmare." Closing the books could take nearly three weeks, without full con- dence that nancial information was accurate. The tipping point came in 2015, with an in-family sale of the business and a restructuring that implemented an umbrella management company. That brought additional complexities that "prey much broke QuickBooks because of data and transaction limits," as Bakker put it. Laird went in search of a more scalable nancial management platform. Laird evaluated a number of solutions, including Oracle NetSuite and Microso Dynamics GP (Great Plains), before selecting Sage Intacct. "We really wanted a platform that would grow with us, was user-friendly, and would deliver regular updates that we didn't have to wait for or pay extra for," Bakker said. "We needed a single chart of accounts, and I wanted to be able to do our report- ing in minutes." Sage Intacct met Laird's criteria, and the company made note that Sage Intacct is the only accounting platform endorsed by the AICPA, the American Institute of Certied Public Accountants. Solutions Faster Reporting and Close Times Amid Growth Laird Management has dramatically streamlined and simplied nancial management since going live on Sage Intacct in 2015. Time needed for three staers to close the monthly books has been cut by 50%, from as many as 20 days down to nine or 10. And Laird is generating beer reports faster. For instance, it used to take between eight to 10 hours to produce two basic monthly bal- ance sheet and P&L reports using a combination of QuickBooks and Excel. Today, Bakker's team is producing ve monthly reports that are more detailed and insightful in as lile as two hours. Restaurant Franchisee Hits the Limits of QuickBooks Laird Management C A S E S T U D Y

Articles in this issue

Links on this page

Archives of this issue

view archives of Customer Case Studies - Laird Management