MaidPro has partnered with Qvinci, a global leader in financial reporting technology, to provide increased business intelligence to our owners at the touch of a button. Qvinci helps us educate our owners to think about critical areas in their operations and how to fix them. As a franchisor, they also give us an internal franchise-wide financial reporting to complement our operational key metrics. Check out their interview with our Business Development Manager, Brett Shraiar, below:
Why did MaidPro partner with Qvinci?
MaidPro is a very attractive franchise opportunity because of our low investment level, flexible system, friendly culture and customized support. Our owners come from all different backgrounds, from current business owners to corporate executives, retirees to stay-at-home parents. The one thing that connects them all? The motivation to grow their businesses quickly and efficiently.
MaidPro made the decision to partner with Qvinci in order to provide increased business intelligence to our owners at the touch of a button. We needed a tool that would help us educate our owners to think about critical areas in their operations and how to fix them.
As a franchisor, we also needed internal franchise-wide financial reporting to complement our operational key metrics. Qvinci was able to provide the small and large-scale functions we needed to help our owners and Home Office excel to new heights.
What did you use before Qvinci?
Prior to Qvinci, our financial data was emailed to us from our franchisees in a variety of different formats on an “as requested” basis. This resulted in time having to be allocated to deciphering multiple variations of Profit and Loss statements. We have always had a Standard Chart of Accounts but it was not enforced. It became apparent that we needed to find a better, more streamlined solution. With Qvinci’s automated data consolidation and mapping capabilities, our problems were solved.
How is Qvinci helping you to educate your owners?
The actionable data contained in Qvinci’s reporting allows MaidPro to educate our business owners on many different levels. There were owners who needed assistance understanding the difference between a Balance Sheet and a Profit and Loss Statement, owners who did not know how to maintain basic bookkeeping, and others who had no books at all. Using Qvinci, we can provide the educational insights that the owners need and point others in the direction of a bookkeeping service, while providing specific operational adjustments to others.
How many of your locations are using Qvinci?
We are currently one of the nation’s fastest growing franchises and we require all our new franchisees to link with Qvinci from the start. Additionally, our business coaching team is working hard to achieve 100 percent adoption with our current franchisees so they can experience the same increase in performance as locations that have been using Qvinci.
On a scale 1-10, how valuable is Qvinci to MaidPro?
That’s easy, 10.
In my professional opinion, Qvinci pays for itself purely from the education standpoint. Our business coaches would not be able to provide the stellar support they do without the help of Qvinci. One of the major advantages is the ability for everyone in our system to speak the same financial language. It really helps when discussing and analyzing the numbers.
Business intelligence capabilities such as peer benchmarking have proven to be very valuable. For example, before Qvinci, it would have taken me months to consolidate reports for 100 locations. Now, that work can be done in five minutes.
Our Business Coaching team has turned into a group of Qvinci fanatics. We love it! There is still so much more to discover in the platform and we are excited to continue to improve our operational efficiencies and, in turn, profitability for our owners.