Fitness Formula Clubs Uses Intacct to Shape up Fifteen Business EntitiesFitness Franchise implements Intacct.
“Intacct had an immediate impact on our business, solving many of the problems we had with financial management and helping to streamline processes to make managing our business far easier than before." - Brian Singleton, CFO at Fitness Formula Clubs
The effort vastly improved the company’s planning and execution functions, they knew that in order to succeed in this era of technology their accounting systems needed to be much more robust than what they are. They turned to WP consulting to improve their accounting systems.
- Needed a flexible financial management system to support fast growing multi-location business, with 15 separate business entities in all
- Wanted to eliminate need for exporting data to excel and to improve overall reporting
- Looking to implement a cloud-based solution to maximize ROI and minimize demands on small IT team
After a comprehensive review of multiple offerings in the market, including Microsoft Dynamics GP (formerly Great Plains) and NetSuite, FFC ultimately chose Intacct’s cloud-based financial management entity, but couldn’t easily see the history of payments to properly manage accounts payable and cash flow. With Intacct, FFC is able to provide each vendor with a single check, while creating a record of payables by an entity that can be used for individual entity reporting or rolled up for a company-wide view. And when the company recently expanded, adding new health clubs to its business, it took just a few minutes to set up the new business entities within Intacct.
- Streamlined financial processes and improved financial controls across its 15 business entities
- Gained ability to easily create custom reports that provide greater insight into the business
- Cloud-based financial management solution doesn’t require deploying and maintaining software; needs no IT staff support