Ratner Companies - Case Study
Family-owned hair salon business selects Board to budget and plan for its nearly 1,000 salons
Ratner Companies is the largest family-owned and operated chain of hair salons in the United States, operating nearly 1,000 salons and employing over 9,000 licensed stylists in 16 states and the District of Columbia. Its diverse brands include Hair Cuttery, BUBBLES, Salon Cielo, Salon Plaza, and Cibu.
The finance team at Ratner Companies was up against a road block when their previous planning system was going to be retired. They saw this as a great opportunity to find a new system that was much easier to use and more versatile to meet their needs. They desired a system that would provide the finance users with the ability to run the system with minimal IT involvement, thereby minimizing the time needed to make changes, especially minor ones.
Members of the Finance Team at Ratner Companies attended the Association for Financial Professionals (AFP) conference in Las Vegas and discovered Board at our event booth. During the selection process they reviewed several competitors, including Adapative, Anaplan, Arcplan, dEPM, Host Analytics, Oracle, and Tidemark. Board’s flexible budgeting and support for multiple methodologies, as well as its great price for the product, were the ultimate deciding factors.
Ratner Companies is currently using Board as their budgeting and planning tool. Board streamlines the budgeting process and makes turnaround time (from concept to budget) much faster to implement. “Due to the flexibility of the Board system and the ease of understanding, what used to take three to five days to implement can be done in less than half a day,” says Evie McCown, Operations Business Analyst, Ratner Companies.
As the company continues to grow and operate more salons, there are times when the team wants to deploy and test a different method of budgeting to see how it will impact the outcome. Board allows them to write additional steps in the procedure and easily enable or disable them after testing, so they can make informed decisions about what steps to use in final budgeting.
One of the best results of using Board has been in transparency to their budget process. Previously they only had one team member who knew the mechanics of the old budgeting system. In Board, the entire team understands how to read and write procedures so any of them can log in and interpret how an account is budgeted.
Additionally, they have experienced monumental time savings benefits from using Board, particularly on the salon side of the business. With close to 1,000 salons, most of their accounts are based on sales. As part of the old process, there was a lot of importing and exporting of data required to get everything budgeted correctly. Today they load the current sales budgets into Board and then the built-in procedures can automatically create budgets for the accounts.
“Before Board our workflow and processes took a long time to complete. We budgeted in silos and each team member had their own specialty. With Board, every finance user can easily and quickly make changes, enabling our team to proceed forward without having to wait for someone to get their part done.” -Evie McCown