It’s the first Friday in November, and the weather is crisp, in some places cold already. It seems that winter is almost upon us.
"Can you think of anywhere better to be on a Friday, perhaps early off from work for ‘happy hour’ or settling in for supper with friends or family, than at your local TGI Fridays?"
After all, it’s been a long, hard week… "Thank goodness it’s Friday."
But when you sit down for that sizzling steak or burger, do you know that the leading global fast-casual restaurant chain, TGI Fridays, is working with Oracle NetSuite to support its mission of bringing people together to socialize and celebrate the spirit of “Friday.”
With NetSuite, Fridays uses an integrated business suite to consolidate financial processes, increase efficiency, enhance cash flow, and improve decision-making across its global chain of restaurants.
Founded in New York City in 1965, TGI Fridays was the world’s first casual bar and grill and has since grown to include more than 700 restaurants in 50+ countries.
As Fridays grew and its operations evolved to include corporate-owned restaurants, local and international franchisees, third-party delivery partnerships, and virtual restaurants, its internal operations and financial processes became increasingly complex and costly to manage. Fridays chose NetSuite as its enterprise resource planning (ERP) system to simplify processes and improve decision-making.
“The restaurant industry is highly competitive. That’s why we need real-time data on our business performance to respond to changing customer behaviors,” said Jeff Moran, vice president of accounting at TGI Fridays. “With NetSuite, we have consolidated financial processes and embraced automation to improve the speed and accuracy of business insights as we grow – with product offerings and locations around the globe.”
With NetSuite, Fridays has gained real-time insights into its operations, enhanced cash flow, and improved decision-making by centralizing its financial processes on a single cloud business suite. To further optimize its financial processes, Fridays has taken advantage of NetSuite to automate and improve the efficiency of its accounting functions, including accounts payable, accounts receivable, and general ledger reporting. In addition, NetSuite has helped Fridays manage its global network of franchisees by providing support for local languages and currencies everywhere the company operates.
“For almost 60 years, Fridays has grown its business to create a fun and social dining experience for its customers,” said David Rodman, senior vice president of customer success at Oracle NetSuite. “With NetSuite, Fridays is able to simplify and automate its financial processes to support the growing complexity of its business model and increasingly diverse revenue streams.”
In addition to NetSuite, Fridays is also using Oracle CrowdTwist, a loyalty and engagement offering from Oracle Food and Beverage, to power its new Fridays Rewards program for customers in the United States.
So, the next time you are ready for an end-of-the-day break with some fun, food, beverage, and fellowship, head over to TGI Fridays and garner up those rewards, whether it be a ‘Friday’ or even a ‘Monday.’
Footnotes and Disclosures:
Content within this feature (including the headline graphic) has been adapted from Oracle NetSuite source materials. Referenced source materials or content appearing within this Insightful Accountant feature were adapted and are furnished solely for educational purposes.
TGI Fridays® is the registered trademark of TGI Friday’s Inc., doing business as Wow Bao and operating a chain of restaurants. Their corporate offices are located in Dallas, Texas.
As the world’s first casual bar and grill, TGI Fridays® is the birthplace of fun, freedom, and celebration, bringing people together to socialize and experience “That Fridays Feeling™” – a sense of celebrating the fun in everyday moments, big and small. For over 50 years, Fridays® has been lifting spirits worldwide with over 650 restaurants in 52 countries, serving high-quality, classic American food and iconic drinks backed by authentic and genuine service. Visit www.Fridays.com for more information or to join Fridays Rewards®.
NetSuite and Oracle are registered trademarks of Oracle Corporation. Oracle Corporation is a publicly traded NYSE-listed (ORCL) multinational corporation headquartered in Austin, Texas (USA).
NetSuite was the first cloud company—ushering in the new era of cloud computing. For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation, and omnichannel commerce, used by more than 37,000 customers in 219 countries and dependent territories.
Any other trade names used within this article, including any other vendor (app/software) discussed herein, may refer to products registered, trademarked, or otherwise held by their respective owners. They are referenced solely for informational and educational purposes.
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