How Can Entity Management Software Help a Franchise Business Stay Compliant?

Are you managing multiple franchise entities manually? Is your valuable time and monetary resources being spent on inefficient and scattered processes? If so, we have a solution to help fit your unique needs for managing a franchise business. In the face of increasingly complex regulations, organizations with multiple entities require secure, cloud-based, automated, and scalable technology to help management stay on top of business details. 

At Athennian, we provide clients like you with entity management software to optimize their businesses and improve efficiency from the ground up. Franchise businesses in particular require this type of management system in order to enhance the efficiency of their sales teams, onboard new franchisees, maintain brand standards, connect with franchisees, share pertinent training materials, and perform operational audits. 

Out With the Old and in With the New

Keeping an outdated process for the sake of valuing the traditional way of doing things may be hindering your business growth and profits. Especially as a franchise business with multiple entities scattered across several jurisdictions, it’s no wonder that staying up-to-date and organized internally is so draining using manual processes. The good news is that it doesn't have to be this way! With the newest technology that the industry has to offer, managing the seemingly endless details of your business is as simple as using one software tool available at Athennian. 

Think of all the time and energy wasted with these outdated processes and tools:

• Manual data entry and data location 
• Scattered data across multiple interfaces
• Unclear day-to-day operation for employees
• Inventory and progress management across each individual franchisee

Franchise Business Challenges Solved

As competition soars in the franchise arena, managing a business that serves thousands or millions of consumers is no easy feat. Franchise business managers who wish to stay ahead of the competition need to identify and overcome common challenges hinder growth and profitability. Some of these challenges include:

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• Finding and retaining employees. Human resource departments are often tasked with finding employees in a labor market with increasing focus on positive company culture, work-life balance, and a transparent company mission. 
• Streamlining processes. With multiple entities, streamlining processes can help you manage payroll, monitor sales and expenses, and track income statements all within a centralized database. 
• Managing mindsets. Today’s labor force is holding companies up to certain transparency and quality standards. Providing your employees with the tools they need to perform their jobs efficiently can improve their mindsets surrounding the company. Preventing burnout and employee turnover, which are costly for your franchise, is difficult without managing company goals and providing efficient tools for employees to do their best work. 
• Maintaining organic control. Maintaining control over your franchise and its employees can be difficult without a system to track all your necessary documents, marketing, inventory, and day-to-day operations. 
• Adhering to complex regulations. An increasingly complex book of regulations, tax laws, and compliance rules can be challenging for multi-jurisdictional businesses, such as franchises. 
• Scalability. Business growth is a goal for nearly every franchise, yet the lack of efficient solutions to track data, budgets, and organize internal information often prevents franchises from growing as needed to meet increasing demand. 

The Importance of Entity Management Software

If you’re serious about growing your revenue as a franchise business, you need to invest in the right tools. A cloud-based entity management system is the key to solving your more common franchise business challenges from the ground up by providing a scalable and multipurpose organizational system. Doing so can allow you to streamline operations, thus saving time and money. You can finally track each franchisee from a centralized database from anywhere in the world. 

This can ultimately protect the longevity of your business because your legal team can easily track contractual agreements, billing and accounting documents, and compliance requirements. Your internal teams will also be able to send stakeholders with the timely information that they need to stay in the loop. 

Another reason this type of software can protect your business at its core had to do with privacy and security. Cyber security threats are a relatively new phenomenon that have increased in sophistication as technology grows more advanced. As such, it is imperative that you rely on an entry management program in place that is reliable and built on the highest of standards to protect your company’s valuable data from hacking and cyber security threats. 

Helping You Operate More Efficiently

The bottom line is that entity management software in today’s technology-based era is a must for franchise businesses. Not only will it allow your business to operate internally more efficiently, but you will be able to cut costs and increase revenue by utilizing the unique skill set of your franchisee employees. You’re able to track, measure, and correct inconsistencies down through the day-to-day functions of employees and effectively establish a brand voice that is heard by employees, consumers, and stakeholders. 

At Athennian, we are here to provide you with cloud-based entity management software that protects your franchise business from the core. Our software creates transparency and consistently across all entities that allows you to focus less on redundant, time-consuming processes and more on franchise brand image, creative strategy, and revenue growth. For more information on how we can help you stay ahead of your competition, request a customized demo with an entity management software expert today! We can guide you through the product we offer and provide you with access to the platform, self-guided tours, and specific features. 

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