Oversight and Management
Multi-location, or multi-division businesses need the power to manage customer financial offerings and programs from the corporate and local level. Features like a corporate portal for access to all locations, corporate membership plan definition, cross-location reporting, billing and payment collections management from a global perspective are a start. Membership plans, third party offerings and in-house financing need to have rules enforced across all locations while allowing desired flexibility at the local level.
Corporate and Franchise Business Model
There are many flavors of multi-location organizations. Structures include centrally-controlled company owned locations, franchises that allow significant autonomy, and others have corporate locations, combined with individually owned (or partially owned) locations. Mix in to this regional managers, location managers, and support staff – all of whom need access to the system with different security roles. No matter what your organizational structure, you need a solution that supports the way you do business – you need flexibility – on your terms!
Ubiquitous, Secure Access
Multi-location companies often have the need for both centralized and decentralized controls, and frequently have remote users of their membership and financing systems. If corporate controls are in use, access needs to be real-time as it is possible a customer is standing at the front desk of one of your locations, trying to get approved. Often times, remote, corporate or regional application support is required and it is important that all parties see the same information at the same time. Also, with all of the access required, it is important to track who did what to which customer record and when they did it. Security roles and login are key for corporate controls and enterprise level security for all payment and personally identifiable information is crucial.
Location Configuration Flexibility
With all of this talk about corporate and regional controls, how is a location to support local branding, pricing based on customer demographics, payment and membership plan designs based on that location’s demographic needs and various other configuration issues based on a business model? You need the ability to define templates for locations, but have complete flexibility, by location, with how the system works – with corporate being able to define which items are configurable and at which locations.
Activity Tracking and Commission Management
Tracking activity across all locations can be tricky. Companies need technology that allows tracking at the location level, but also be able to roll up activity to regional and/or corporate levels. Management might want to do cross-location activity reporting to figure out which locations are doing best and with which programs. System-wide view of activity is critical for items such as service delivery performance pay and commissions for new enrollment. And, speaking of commissions, it is very handy to have commission activity reports that show activity and compensation by employee, location, credit plan type and more.
As with any company, staying legally compliant is vital for organizations with multiple locations; local jurisdiction and different state requirements compound this need. System generated legal documents, customizable by jurisdiction, often, state-by-state, are key and important to cover compliance issues such as Truth-in-Lending and the Fairness in Credit Reporting Act (FCRA). Secure management of all confidential information is critical to avoid fines associated with loss of data.
Public Company Compliance Including GAAP Accounting
Public companies and organizations adhering to GAAP account standards have special needs of a financial solutions platform. ExtendCredit provides various features that allow entities to comply with these sorts of requirements. Additionally, we have expert staff to help an organization make sure that all aspects of the solution meet their particular need.