In 2012 Anil Patil sold his 22 Dominos Pizza outlets and set up 23.5 Degrees to became the first global franchisee of Starbucks corporation. Anil understood that in order to realise his ambitious plans for growth and scale he needed a business management platform that could deliver financial control, efficiency and business insight to his business at all levels of scale.
- The company started with one greenfield store, but had ambitions to grow to in excess of 100 stores within a 4 year timeframe.
- The growing management team will be fragmented across a geographical area.
- Complex reporting needs across operations, finance, board, investors, Starbucks Corporation……
- The dynamic nature of the F&B sector means that operations need to be highly responsive to changing conditions.
23.5 Degrees engaged with Ezora to transform how the business managed its financial back office, enabling the organisation to drive efficiency and profitability in a highly controlled environment.
Control And Efficiency
Ezora has worked closely with 23.5 Degrees, the Starbucks Corporate team and Micros to eliminate time consuming, costly manual processes and has fully automated the following:
- Accounting for all Micros based Sales and Customer Payment transactions
- Accounting for all Starbucks invoices
- Accounting for Payroll
Financial Performance Analytics
Ezora provides a rich suite of financial analytics to 23.5 Degrees enable the senior management team to stay focussed on the big picture including Key Performance Indicators, Dashboards, Profitability Reports and Financial Statements.
Operational Performance Insights
Ezora provides intuitive actionable insights into the daily, weekly and monthly performance of each store.
- Directors and store managers can drill underneath metrics to gain a deeper understanding of the underlying drivers of performance.
- Results for each store are compared across timeframes, against plans and benchmarked to other stores.
- Daily and weekly email notifications and exception alerts focus attention toward problem areas, e.g. under-performing employees.
Impact to 23.5 Degrees
- Ezora empowers better decision making in each store and eliminates the need to spend time and resources preparing reports manually.
- By automating the accounting entries for sales, cash and labour and automating the production and delivery of monthly P&Ls the company can now complete the accounting close process within 5 working days of months end.
- Significantly reduced accounting costs for the business.
- Ezora provides investors with assurance on the capacity of 23.5 Degrees’ to scale their operation without compromising financial control.
Ezora gives me visibility and control over my stores’ performance and allows me to focus on growing the business. Ezora are a rare company that consistently travel the extra mile to help drive improvements in our business.
Anil Patil – Founder and Managing Director – 23.5 Degrees