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10-Jul-2015 04:44

An additional of automation is that it can increase compliance, catch errors early, and reduce the likelihood of fraud.Consolidated financial statements, reports, and analytics are an important management tools for franchise business owners with multiple locations.To consolidate means to merge a number of items into single, more effective whole.From a management perspective, seeing all independent locations in a single view is helpful in identifying what is working for best performers and using those top performers as a model to make changes to and improve the profitability of lower-performing units.Consolidated financial reporting gives you the opportunity to both get a full financial view of your entire enterprise and gain insights by comparing and analyzing the individual units side-by-side – ensuring continued success and growth across your entire franchise portfolio.To get the ‘big picture’ when it comes to your franchise investments, look to consolidated reporting and financial consolidation software to make understanding, analyzing, and managing your businesses easier.

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Software providers, such as Qvinci, allow multi-location owners to do more with the consolidated financials.Features such as ranking reports, benchmarking, vertical analysis, and email alerts turn modern financial consolidation software platforms into invaluable business management tools.