Tavern in the Square is a restaurant group, located in the Boston metropolitan area. The group was founded in 2004, and has expanded to 10 restaurants following significant recent growth.
Before Tavern on the Square began working with the RSM finance and accounting outsourcing (FAO) team, the restaurant had five locations. In the past, it leveraged an accounting solution that was sufficient for small organizations, but not for a company that exhibited Tavern in the Square’s growth potential. That platform limited the company’s visibility into finances, created reporting challenges and made comparisons across locations difficult.
RSM FAO advisors worked with Tavern in the Square to clean up and consolidate the existing accounting platform and suggested new technology solutions that could provide the necessary financial data and insight and scale with future growth. RSM implemented the Intacct cloud financial management solution, as well as the Bill.com payment processing platform to help the company keep up with increased demand.
The RSM FAO team took a finance and accounting system that was very decentralized across multiple units, and brought everything together under one common platform. In addition, Tavern in the Square was able to reduce the size of its internal accounting department, and leverage RSM’s knowledge and resources. Instead of spending excessive time on day-to-day accounting and transaction processing, Tavern in the Square can now focus on expanding to new locations and growing the business.
Watch the video below to learn how RSM’s FAO solution has helped Tavern in the Square double in size through greater finance and accounting accuracy, visibility and efficiency.