The Future of Franchise Accounting: AI-powered Bookkeeping and Accounting Solutions
Franchise Accounting – Hard to Manage & Harder to Optimize Diverse revenue streams, shared financial obligations, stringent regulations & compliance, multi-location operation & more – the franchise accounting landscape is rife with many complexities that make it harder to navigate for franchisees and franchisors. In addition, the need for fast, precise, and standardized reporting and […]
6 Ways Artificial Intelligence Can Enhance Franchise Operations
While the franchise model offers a blueprint for success, constant adaptation is key to staying ahead. Embracing artificial intelligence (AI) will allow franchise owners to streamline their business operations and become more competitive and profitable. Here are 7 reasons for franchise owners to embrace AI. 1. Effortless Revenue Reconciliation and Accounting Imagine never having to […]
How to Properly Analyze and Improve Unit Economics, Part 3
Accurately analyzing and enhancing unit economics is non-negotiable for businesses aiming to achieve long-term sustainable growth and success. This process entails taking a deep dive into calculated metrics for two main reasons: (1) to determine the efficiency and profitability of each unit sold by getting down to the root causes of any positive or negative […]
Unit Economics: What’s a Good Ratio, and Why?
Unit economics is the one must-know concept for any business eyeing sustainability and progress. This article is the second in an informative three-part series about unit economics and adeptly answers the question: “What is a good unit economics ratio?” The first article provides a step-by-step guide on how to calculate unit economics, and the third […]
How to Calculate Unit Economics – Part 1 in 3 Part Series
The business world is dynamic, and navigating that terrain as a financial leader or business owner requires a firm grasp of your financial well-being – it is paramount to success. Out of all the factors to consider, and there are many, unit economics reign supreme as a pivotal measure that unlocks valuable perspectives on the […]
Traits to Consider When Choosing Accounting Software for Multiple Businesses
Taking on the responsibility of owning and operating numerous businesses is no easy feat, yet it can yield great satisfaction. As a proprietor of a small or medium-sized enterprise, you are constantly searching for ways to streamline various aspects of your operations, particularly when it comes to managing finances. Choosing the optimal accounting software for […]
Top 5 KPIs for Multi-Entity Hospitality Businesses
In the hospitality industry, triumph hinges on a strategic approach, especially when managing multiple properties. Vital to this strategy are Key Performance Indicators (KPIs), which offer invaluable insights into business performance and allow hospitality leaders to fine-tune a hotel’s operational performance and guest satisfaction. In this blog, we’ll explore 5 essential KPIs that can significantly […]
5 Ways to Navigate the Top Tax Pitfalls for Multi-Entity Businesses
Running a multi-entity business is rewarding, but navigating the tax maze can feel like a challenging puzzle with ever-shifting pieces. These complexities can lead to considerable financial headaches and legal trouble down the road. It is crucial to grasp and pre-emptively tackle these hurdles to safeguard your business from making costly errors while filing taxes. […]
Avoiding Tax Traps: A Guide for U.S. Multi-Entity Businesses
Starting or operating a multi-entity business is a blend of rewarding endeavors and pressing challenges. Multi-entity businesses face a myriad of challenges while filing their taxes. In this blog, we will delve into the most prevalent tax pitfalls that U.S. multi-entity businesses face and discuss strategies for both avoidance and correction. 1. Lack of Record-Keeping […]
Closing the Books with the Power of AI: Hard Close vs. Soft Close
In nearly every business, closing the books is a vital monthly routine – a bit like a health check-up for the enterprise’s financial well-being. Generally speaking, there are two types of close – hard close and soft close. While they may seem similar, they serve very different purposes. Understanding these differences and how each form […]
Introducing InsightFlow: Real-Time Financial Reporting
The concept of financial mastery just got simpler – Introducing Docyt’s latest cutting-edge feature, InsightFlow. No more waiting for tedious month-end reports or struggling through complicated data. InsightFlow will forever change the way you approach your business’s financial management, delivering instant, AI-driven insights that are both comprehensive and user-friendly. Transforming Financial Reporting with AI-Driven Clarity […]
Introducing Docyt’s New Portfolio Financial Insight’s Dashboard
If you’re a business owner managing multiple entities, it can be difficult to compare and analyze each entity’s financial performance, especially if you’re relying on manual processes; and most accounting automation systems fall short in this area. Docyt’s Portfolio Dashboard enables business owners to analyze how their entities stack up against each other and identify […]
