Finance and accounting firm Global Shared Services unveiled a new strategic partnership with Jedox that will bring Fortune 100-level financial planning capabilities to the restaurant industry. Jedox provides a leading financial planning & analysis (FP&A) solution that was recently ranked number one for business benefits in BARC’s annual Planning Survey and a 2021 Gartner Peer Insights Customers’ Choice for Cloud FP&A Solutions.
“This partnership will transform financial data aggregation processes in the restaurant industry by making the dream a reality: all data in one place, without manual entry, so that budgeting and forecasting become functional processes,” says Will Fleming, President at Global Shared Services. “This is a higher level of planning and analysis than what’s been available to restaurants before.”
Before this partnership, most restaurant businesses have not had access to functional budgeting capabilities on a real-time basis. Traditional financial data platforms enable budgeting on a one-and-done basis, but the manual labor involved in updating data can make budgets increasingly irrelevant over the course of a year. By partnering with Jedox, Global Shared Services is changing that status quo.
Global Shared Services will build brand-specific portals within Jedox, connected to clients’ General Ledgers, Above Store Reporting, and Inventory systems, allowing restaurant businesses to access all of their financial data in one place with reporting built in. This makes planning more powerful and makes budgets meaningful so that businesses can make better decisions.
“We are excited to be adding Global Shared Services to our global partner network to provide even more flexible and scalable planning solutions to the restaurant industry,” says Dr. Liran Edelist, President, Jedox, Inc.
For restaurants that have been frustrated by fragmented systems, subpar predictive capabilities, and a lack of access to modern tools that support better performance, this partnership will change the game.