5 Benefits of Accounts Receivable Software for Franchise Companies
As a franchisor organization, getting paid is unfortunately not as simple as waiting for the royalty checks to start coming in from all your franchisees. With the strain put on small businesses over the last year and an increased need for remote accounting, streamlining collections efforts has become a top priority. In this post we are going to look at some of the benefits of AR software for franchises so you can get paid faster and better manage cash flow.
1. Time Your Collection Cycles to Meet Your Needs
When processing collections manually, short cycles are difficult to manage. With automation you can manage more frequent collections cycles to maintain cash on hand.
2. Payment Portal & Auto Charge
Not all AR software for franchises delivers a customizable payment portal, so be sure to ask your short list of providers if they offer this feature. This gives you and your franchisees better control over royalty payments. Also be sure you choose a solution that allows auto-charge features and automatic payment reminders to your franchisees for an added layer of assurance that you will be paid on time.
3. Predictable Monthly Costs
With subscription-based software and services, you can better manage your expenses surrounding your accounts receivable.
4. Mobility and Remote Work
With cloud-based software, you face minimal upfront costs, plus your accounting team is better equipped to work from anywhere with the added assurance of data continuity so everyone is always on the same page. No more wasting time on manual data entry or errors due the back-and-forth of document attachments.
5. Flexibility & Scalability
With so much uncertainty, it's more difficult than ever to predict how your accountingdepartment's budget will expand and contract. An industry leading AR software for franchisors will make it easier than ever to scale your receivables department up and down as needed.
The Fidesic Difference – Service
While many cloud software providers tout the reliability of their product and service, Fidesic works hard to actually ensure industry-leading service and reliability. Learn More
If you are currently using Microsoft Dynamics GP or are considering Dynamics GP for your Franchisor Accounting Software, Fidesic is unrivaled in its ability to deliver functionality and service to GP users.