Eyas Hospitality Streamlines Financial Operations with Paperchase, Occupier and R365

Last Updated on June 20, 2024 by Morgan Beard

Eyas Hospitality Group is a franchisee operator of 20+ Subway and 60+ Burger King locations. Founded in 2013, by seasoned restaurant hospitality experts, the team at Eyas Hospitality streamlines financial operations, prioritizes cash flow positive real estate assets and robust technology solutions for restaurant growth.

To streamline their complex financial needs, they deployed Paperchase, experts in Hospitality Accounting for their day-to-day operations, Occupier for the lease accounting software solution and of course, Restaurant365 to streamline restaurant operations and management.

Challenge: Transparency Across Financial Operations

Tim Foley and Phillip Gay founded Eyas Hospitality Group, with an emphasis on cash flow positive real estate investments. With their combined experience in financial infrastructure (back office), operations, consulting, and advisory work, both Gay and Foley understand the importance of leveraging technology solutions to power franchise success. 

With over 80 real estate leases across Subway and Burger King locations in the Carolinas, Eyas Hospitality is juggling key lease dates, rent escalations, CAM reconciliations, and financial reporting. In order to scale their business, they find it’s imperative to drive financial statement transparency, reduce administrative workload, and automate restaurant operations tasks. With the new lease accounting standards streamlining financial operations was important to Eyas.

Solution: Tools For Restaurant Financial Operations Truth

Eyas Hospitality Group first partnered with Paperchase Accountancy in 2019 to outsource their day-to-day financial management. As experts in the restaurant accounting space, Paperchase streamlines Eyas Hospitality’s month-end close process, delivering their monthly income statement, and any variance reports, with account reconciliations. To automate the technical lease accounting processes and operational finances for Eyas Hospitality, Paperchase deployed Occupier in tangent with Restaurant365.

“Together Paperchase, Occupier, and Restaurant365 create the ultimate restaurant operations powerhouse. My lease rent payment data, financial statements, and operational cash flow information is consolidated for my review.” Phillip Gay 

This integration not only simplifies complex accounting processes but also enhances the overall operational efficiency of each Subway & Burger King location in the Eyas Hospitality portfolio. With Occupier, we can manage lease agreements and ASC 842 compliance with ease, while Restaurant365 offers comprehensive financial reporting and real-time visibility into financial performance. The combination of these tools ensures greater accuracy and transparency in financial statements, enabling Eyas Hospitality to make informed strategic decisions.

Benefits of Paperchase + Occupier + R365

There are numerous transformative benefits experienced by Eyas Hospitality Group through the strategic integration of Paperchase, Occupier, and Restaurant365. These insights provide actionable strategies for franchisees seeking to streamline operations, enhance financial transparency, and drive sustainable location growth in their own business:

• Enhanced Restaurant Operations: Eyas has real-time visibility into key operational metrics across all locations.
• Financial Reporting Efficiency: Monthly financial statements are generated promptly, providing accurate insights into revenue optimizations and expenses.
• Lease Management Data Truth: Centralized lease database with critical dates, rent escalations, and CAM reconciliations easily accessible.
• Scalability and Growth Enablement: Seamless integration with existing systems and processes facilitates informed decision-making to drive business growth.
• Audit & Risk Mitigation: Audit trails and documentation facilitate transparency and accountability, enhancing credibility with stakeholders
• ASC 842 Accounting: Eyas Hospitality seamlessly gained ASC 842 compliance with Occupier and Paperchase

Now, Eyas Hospitality streamlines financial operations seamlessly, confident in the accuracy and transparency of their financial management processes. By leveraging the combined strengths of Paperchase, Occupier, and Restaurant365, Eyas is well-positioned to continue its expansion while maintaining high standards of financial integrity and operational efficiency.