This successful franchise operation faced a problem common in the food industry — poor inventory and cash-management controls, which sometimes can lead to employee theft.
JRH Consulting Group studied the operation's system-wide financial data. We compared location to location in a disciplined search for anomalies in such items as cost of sales. We recommended all new back-office procedures for handling daily cash receipts, along with a simplified, centralized and secure computer system to give the company tight control of cash and inventory — the keys to profitability in the food-service industry. We helped select and train new accounting staff. We also created a procedures manual documenting all of these practices, greatly enhancing the company's ability to deter theft and monitor all of its financial operations. |
