Town & Country Haus checks franchisees using FINOYO from SCHUMANN
To monitor the commercial development of its franchisees, the company Town & Country Haus Lizenzgeber GmbH uses the software as a service (SaaS) FINOYO from SCHUMANN. The annual reports and the inter-yearly financial reports of Town & Country's franchisees are analysed in FINOYO using suitable compilation schemes and individually tailored key figures. The company had thus already built up a functioning early-warning system before the corona crisis.
Town & Country Haus Lizenzgeber GmbH is a successful franchising company from Thuringia, Germany, in the field of solid house construction. Since the foundation of the company in 1997 it has been able to complete over 37,500 building projects. In the advising of customers Town & Country Haus is supported by more than 360 franchisees. It is thereby essential for the company to have the financial situation of its franchisees constantly in view. Town & Country Haus therefore monitors the development of the individual franchisees regularly with the help of products from information agencies and the analysis of annual reports and inter-yearly financial reports.
Balance sheet analysis for monitoring franchisees
Since the beginning of 2020, Town & Country has been using the software as a service (SaaS) FINOYO from SCHUMANN for this analysis. It offers the possibility to compile annual financial reports independently according to all the common accounting standards. "Because the compilation schemes and key-figure catalogues can be adapted for individual customers, our managerial accounting staff are able to work with a system tailored to our industry. A meaningful balance sheet rating and the ease of use of the software provide us with great support in monitoring our franchisees", explained Jens Opfer, Head of Bookkeeping and Managerial Accounting at Town & Country Haus.
Early-warning systems in times of the corona crisis
In addition to the individualized compilation schemes the system also has interfaces to diverse information providers such as Creditreform. With consistent monitoring that automatically provides information about changes to creditworthiness, the company has created a functioning early-warning system. "Especially in view of the economically difficult times that are approaching because of the corona crisis we are pleased to be using a system that informs us at an early stage about possible financial difficulties of our franchisees. This gives us time to react and to take supportive measures", Jens Opfer is sure. Using the comprehensive range of integrated reports in FINOYO Town & Country Haus can look at a current overview of its franchisee portfolio at any time.
The modular construction of the software makes it possible to extend the system over time. Town & Country is planning the additional installation of the module "Peergroups". This will enable the company's franchisees to be compared with each other using individually designed benchmarks, making it possible to design the financial evaluation so that it is even more meaningful.
FINOYO is the slim software as a service solution from SCHUMANN. It is ready to use "out of the box" and does not require any IT resources of the customer. The software makes it possible to combine internal data with external information in order to perform a creditworthiness check of business partners automatically online and then to monitor them. In addition to interfaces to business information providers and commercial credit insurance companies, balance sheet data in particular can be analysed and meaningful ratings can be generated.