NetSuite helps global restaurant chain automate financial processes, improve decision-making, and expand revenue streams
LAS VEGAS, Oct. 17, 2023 /PRNewswire/ -- SUITEWORLD 2023 -- TGI Fridays, a leading global fast casual restaurant chain, is working with Oracle NetSuite to support its mission of bringing people together to socialize and celebrate the spirit of "Friday." With NetSuite, Fridays has been able to take advantage of 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. To simplify processes and improve decision-making, Fridays chose NetSuite as its enterprise resource planning (ERP) system.
"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, 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 been able to gain real-time insights into its operations, enhance cash flow, and improve 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, 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.
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About TGI Fridays
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 around the world 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 and join Fridays Rewards®. Follow us on Facebook, Instagram, and Twitter.
Oracle NetSuite
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.
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SOURCE Oracle NetSuite