QuickFinancials

Standardization

Can you rely on your numbers? Does your chart of accounts comply with industry standards? This is a requirement for accurate reporting, and “apples to apples” comparisons among your industry peer group.

Integrated Data

We bring context to your financial data by introducing other data sources both structured and non-structured. Now, you can make more informed decisions based on the financial measures that drive your business.

Advisory

Would it help to have your own accountant, consultant and financial analyst better understand your financials? Let’s add 24/7 monitoring, and instant alerts when a change in measure requires your attention.

Actionable

When your gut tells you the company bottom-line isn't what it should be, you need direction to take the right action. Our dashboards will give you the insight to improve the performance gaps that drive your bottom-line.

Accessible

Management and staff will work better as a team by giving them access to measures that define their performance. Take it a step further and allow them to earn incentives by monitoring individual and team goals.

Background	1	Frederick recently acquired the restaurant from the retiring owner. He was manager for 15 years. He has never used restaurant financials as a tool for managing the restaurant, and has had minimal interaction with the bookkeeper.
Scenario		After several months of ownership, Frederick realizes he has taken home less money as an owner than he did as manager. There was a decline in profit from last year. He needs to know how much money he should be earning, and what his return on investment is.
Objective		Maximize his return on investment by increasing his gross margin. Gross margin should score in the 85 percentiles when compared to comparable restaurants.
Solution		Conduct an immediate financial assessment comparing previous year to current year starting with QuickFinancials Base Membership. Activate B to B comparisons, Staff Surveys, and Target Zones for goals setting.

Results:	First Assessment--April 2017	M/E June
Gross Margin (GM)	Avg. 22% 2016, Avg. 20% thru April 2017	22%
B to B Comparisons	Current GM scores in the 70th percentile	75
Performance Gaps (PG)	Target 85th percentile -- PG (15) points	(10)

Background	1	Elizabeth is a new hire brought in for her reputation for running process driven organizations achieving high performance levels. Currently there is minimal visibility into how each location compares to the other.
Scenario		Elizabeth is tasked with coming up with a ranking system in order to identify the lower 30th percentile of locations. The second phase is to elevate the lower performing group to match 6th ranked location YTD Return on Prime Cost (PC).
Objective		Stakeholders would like to position the company for future growth by increasing locations, but need to demonstrate better management by increasing overall median performance levels.
Solution		Conduct an immediate financial assessment comparing previous year to current year with QuickFinancials "Standard Level" membership. Activate multi-level comparisons, Incorporate Performance Zones, and Target Zones for primary objective.

Results:	First Assessment--April 2017	M/E June
30th Percentile	3 Locations Identified	NA
YTD Return on PC	6th ranked restaurant--$1.29	$1.30
Performance Gaps (PG)	#1 location, PC $1.10 — PG (.19) #2 location, PC $1.13 — PG (.16) #3 location, PC $1.15 — PG (.14)	(15) (10) (14)

Background	1	Samantha is fresh out of college, and needed to start making money. She decided to apply as a server at a popular Italian restaurant that is family owned. She believes a career in food service is a real possibility.
Scenario		Samantha soon finds out that although she gets better than average tips, she gets passed over for better shifts and her efforts go unnoticed. She attributes this to family favoritism.
Objective		Samantha would like to participate in QuickFinancials Server Performance Module. She can document her performance, and compare herself to other servers in and outside the restaurant. She wants to be recognized from her boss, and other restaurant owners for her exceptional performance.
Solution		Add Samantha to the Food Server Performance Database. Setup her own server performance dashboards, and implement target zones based on her goals, and compare them to performance zones of other servers.

Results:	First Assessment--April 2017	M/E June
Server Comparison	80th Percentile, Sales PPA -- $19.50 80th Percentile, Tips % PPA – 22%	$1.30
Performance Gaps (PG)	Sales PPA -- $17.00— PG ($2.50) Tips % PPA – 21%— PG (1%)	(1.50) (.07%)

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