More from Paradis on E-conomic

Another major reason for the standardization of the financial management system is the extent of the complexity in running a ParadiS shop. Ice cream is made every day in each shop to ensure freshness and the best possible taste.

There is a long list of ingredients that goes into the production of an ice cream flavour. Simply the purchase of the most basic ingredient (milk) generates four invoices a week per shop, amounting to 350 invoices a month for all 23 shops just for milk supplies!

“Every shop ends up with around 50 invoices per month and, as the shops are typically run and administered by one person who is often very busy serving customers, especially in the summer, administration happens to take second priority", Bjerre explains.

Flexibility in using online rental software

We searched for a system that was easy to use - especially for people with no accounting experience - and that would be accessible to everybody, regardless of their location. The choice fell on E-conomic, since the system is flexible, online and subscription-based, which is very important to an ever-changing company such as ours.

It is quite remarkable what has been achieved; we now carry a consolidated chart of accounts which is distributed to all 23 units and is expanded with ease as we continue to grow”, says Bjerre.

"Even our accountants and auditors, who provide external assistance, are given free access to the system by E-conomic. Automatic upgrades are another key feature - normally a large expense in the long run - but with E-conomic upgrades are included in the monthly subscription fee of USD 25 payable by each shop”.

Beauty of Automatic Accounting

The future now looks brighter; from now on regularly occurring invoices for each shop will be dealt with automatically, thus saving more time and money. “We are capable of automatically importing files into E-conomic, including invoices.

As a result, the invoices are automatically placed in the right accounts. Instead of each shop having to deal with 25 separate milk invoices, they are fed in as one file and recorded just once”, Bjerre explains.

As a next step, E-conomic will be integrating with other business systems used for payroll, sales, purchasing etc. applied by ParadIS Danmark.

A suitable system

“As finance manager for ParadIS, I have worked with and experienced many different accounting systems over the years.

E-conomic has proved to be the most suitable system for our needs.

We have many users accessing the system and, at head office, we have gained an excellent overview of operational matters for each shop on a monthly basis", Bjerre says.

Resource-saving financial management

“Another important advantage of E-conomic is that it provides the most optimum kind of resource-saving financial management.

There is no need to maintain and upgrade an independent server and and our travel expenses become drastically reduced because auditors and accountants are no longer required on-site for review purposes, they simply log in from their own office.

This is important to us because we believe in corporate social responsibility and strive to produce “green” accounts”, Bjerre says.

A system ready for international franchise shops

In terms of capitalising on the international potential of ParadIS, considers E-conomic to be a major asset in making it an easy and painless procedure. “The system exists in many languages and can be utilised in franchise shops abroad.

Also, we are given the ability to integrate with other systems, thus ensuring that we maintain efficient and cost-effective financial management procedures around the world", he says.

Results for Paradis

Paradis created unified financial management procedures for their head office and francises, set up transparent financial management methods providing a quick overview of profits and operations, and found an easier way to cooperate between Paradis Denmark and upcoming shops abroad.

Read the first part of Paradis and Jørgen Bjerre's experience with E-conomic.