When Savory Fund, the investment group behind some of the tastiest fast-casual restaurant concepts, realized its accounting systems weren't quite up to par, it turned to Tablespoon for help.
Savory Fund manages a growing portfolio of brands, which means lots of locations, financial complexity, and a need for rock-solid reporting to make fast decisions. Their challenge? Piecing together data from multiple systems was slow, frustrating, and prone to errors. They knew they needed a better way to track performance across all their brands and locations.
Savory Fund's team was conducting a technology audit to find technologies that would help their brands scale. Savory was looking for a financial system that could be highly customized and configured to meet the specific needs of their diverse portfolio of restaurant brands, rather than a one-size-fits-all solution.
The Solution
As an investor with multiple restaurant brands across different locations and regions, Savory Fund needed robust capabilities around consolidated reporting, visibility, and controls across their entities. Savory Fund wanted a system that could seamlessly integrate with their other restaurant-specific technologies, like POS and procurement systems, to drive efficiency and automation throughout their back-office operations.
Tablespoon swooped in with their deep expertise in Sage Intacct, a cloud-based accounting system built for multi-entity businesses like Savory Fund. But Tablespoon didn't just stop at implementation. They rolled up their sleeves to truly understand how Savory Fund operates, designing workflows and reports tailored to their unique needs.
"We were looking for a cutting-edge cloud-based solution that would revolutionize what Savory is doing. We realized we needed a partner who could assist us in comprehending our financial insights and offer a personalized, automated solution tailored to the restaurant industry. Tablespoon is where accounting expertise meets restaurant industry acumen." Joshua Boshard, Chief Operating Officer at Savory Fund
While Savory Fund has a capable internal team, they recognized the value of partnering with an experienced implementation provider like Tablespoon to ensure a successful rollout and ongoing optimization of the Sage Intacct system.
The Results
With Sage Intacct implemented, Savory Fund's broader technology strategy has enabled them to streamline operations, enhance visibility, strengthen controls, and better support the growth and scaling of their restaurant brands.
Results with Sage Intacct:
- Improved Efficiency and Productivity: Savory Fund's finance and accounting teams have been able to streamline processes and save time on tasks like journal entries, vendor management, and bank reconciliations. This has freed up the team to focus on more strategic initiatives rather than manual, repetitive work.
- Enhanced Visibility and Reporting: Sage Intacct's multi-dimensional reporting capabilities have given Savory Fund's leadership team better visibility into the performance of their various restaurant brands and entities. This has enabled more informed decision-making and the ability to quickly identify areas for improvement.
- Stronger Internal Controls and Compliance: The customization and permissions features in Sage Intacct have allowed Savory Fund to implement robust internal controls and audit trails across their accounting processes. This has improved their overall financial governance and compliance.
- Improved User Experience and Adoption: Savory Fund's finance and accounting teams have expressed excitement and satisfaction with the usability and functionality of Sage Intacct, compared to their previous legacy system. This has led to higher user adoption and engagement with the new technology.
- Scalability and Flexibility: Savory Fund's modular, best-of-breed technology approach, anchored by Sage Intacct, has provided the flexibility to easily onboard new restaurant brands and integrate their systems as Savory Fund's portfolio continues to grow.
"We've finally got to the point where we have a very functional foundation that's scalable, that can work within all different areas of the market and segments of the restaurant industry. We have a long road ahead of growth and success."
Why Tablespoon?
Savory Fund didn't just want a vendor—they wanted a partner. Tablespoon's team of restaurant experts made all the difference, guiding them every step of the way and ensuring the transition was smooth and stress-free.
Tablespoon provided Savory Fund:
- Customization Expertise: Tablespoon's deep expertise in customizing and optimizing Sage Intacct would be crucial to ensuring the system was tailored to Savory Fund's unique needs and integrated seamlessly with their other restaurant technologies.
- Ongoing Optimization: Technology implementation is not a one-and-done process, and continuous optimization and improvement would be key. Tablespoon's ability to provide ongoing support and guidance was seen as a significant benefit.
- Industry-Specific Knowledge: Tablespoon's deep understanding of the restaurant industry and the unique technological challenges faced by restaurant groups was viewed as a major advantage in helping Savory Fund achieve their goals.
"For us, partnering with the right team to help overlay and allow us to succeed and win and continue to refine is so important to us, and we really appreciate that partnership from Tablespoon."
For Savory Fund, partnering with Tablespoon was like finding the secret ingredient they didn't know they needed. With their accounting systems running seamlessly, they can focus on what they do best.
Learn more!
This case study is based on insights from our recent webinar, highlighting real-world challenges and solutions that showcase the impact of our technology. Do you want to hear more from Savory Fund? Watch the session "Laying the Foundation with Sage Intacct".
