FranConnect, the franchise and multi-location management software vendor, has unveiled its latest offerings The company is introducing FranConnect Analytics, a new platform that offers unique insights culled from all business areas in real-time, on-demand. Also announced was a revamp of the FranConnect Royalty Manager application to better address key issues within finance teams.
With many franchise and multi-location businesses facing challenges due to their distributed structure and widespread accountability, the demand for accurate and prompt data intelligence has surged. The need to identify the most rewarding resource investments and reconcile conflicting systems and intricate organisations is crucial. FranConnect Analytics provides a solution to these issues via its pre-made dashboards that draw data from a single, reliable source: itself.
By leveraging FranConnect Analytics, different business sectors such as Operations, Finance, and Marketing can power their decision-making process. They can use real-time data and insights to optimise results across varying locations. Furthermore, the platform allows businesses to identify their top performers, scale best practices, and internally benchmark their performance – from sites to regions to brands – to make strategic investments.
The technology company is also overhauling its Royalty Manager. They aim to enhance the effectiveness of financial operations for franchise brands by automating sales reporting and ensuring precise calculation of franchise fees. The renovated application will also facilitate the centralisation of financial data. Other benefits include providing transparency into the invoicing and financial parameters of franchise agreements to franchisees, which subsequently aids in building stronger relationships.
The upgraded Royalty Manager will also come with the feature of Invoice-to-Pay. This innovation will permit brands to standardise billing, offer a variety of payment options and expedite the process of payment collection, thereby reducing the days sales outstanding effectively.
Gabby Wong, the CEO of FranConnect, commented on the company's new offerings, "Royalty Manager’s redesign and FranConnect Analytics' novel capabilities make it simpler for teams to garner insights from our platform, creating a comprehensive view of their operations lifecycle from lead generation to payment reconciliation."
Wong further added, "FranConnect augments the connectivity of information across the distributed value chain and gives brands the ability to consolidate that information, improve planning capabilities, and enforce standardised operational processes to enhance overall system performance."