Whether it’s restaurants, hotels, fitness clubs, real estate firms, or services business, sophisticated franchising models can present unique and significant finance and accounting complexities. From varying royalty rates and equipment charges to promotional funds, rental fees, and gift cards, top-performing franchisors must successfully unify and process a massive volume of detailed billing data every day.
Is your franchising business ready to respond? Can you generate the timely and accurate invoices you need to deliver to your franchisees? Are you prepared to manage revenue complexities – and achieve GAAP compliance? That’s where RecVue shines. Our enterprise-class monetization platform has the sophistication to help you automatically manage complex franchise billing and invoicing – all in one single, holistic view.
Many franchisors negotiate different rates with franchisees based on a range of attributes and variables – including transaction volume, number of franchises, locations, brands, demographics – or even local regulations (such as hours of operation). For instance, new franchises may qualify for discounted royalty rates. Larger multi-location franchisees may qualify for volume discounts or store averaging. RecVue uses your complex rules to calculate and generate bills – accurately and quickly.
Franchisees can also be charged for brand-marketing costs on monthly invoices – but can also qualify for credit for promotions executed through regional advertising co-ops.
If you rent the land for a franchise location, RecVue can add those monthly leasing costs to invoices.
When consumers redeem gift cards, franchisees pass the costs back to the franchisor. RecVue reconciles gift card transactions for franchisors and ensures proper credits are issued back to franchisees. RecVue also handles the processing and reconciliation of employee credits, discounts, and point-of-sale discounts (coupons).
Many franchisees rent point-of-sale devices (e.g. registers and scanners) as well as other capital-intensive machines and equipment (such as specially engineered stoves and ovens or expensive exercise machines) from franchisors on a weekly basis. RecVue can seamlessly capture these myriad expenses and roll up those costs into monthly invoices.
Instead of maintaining dozens or hundreds of external spreadsheets for different brands, franchisees, or product lines, RecVue lets franchisors handle all complex calculations and billing rules within its own platform.
Of course, no franchise agreement is static, so RecVue helps finance constantly handle the changes – changing royalty agreements, extensions, renewals, price changes, terminations, and more.
Whether it’s POS systems, third-party systems, CRM, ERP, payment processors, or other online portals, RecVue captures data from virtually any source to map and translate it into a standard billing format. That eliminates error-prone, time-consuming manual data entry.
The RecVue solution includes a RecVue Franchisee Portal that franchisees can use to submit monthly sales, review invoices, and track other details that roll up to give the franchisor greater speed and accuracy in the invoicing process.
RecVue enables your finance team to accelerate period closes, reduce DSO/DRO, and increase revenue – all while ensuring accuracy and GAAP compliance for revenue recognition.
Create real-time analyses of your pricing strategies or develop new business models to optimize revenue.
RecVue gives you a 360-degree view into your franchise contracts with easy-to-use self-service reporting.