NQ64 Digitalises to Propel Growth
Innovative arcade bar scale-up supercharges strategy with Sage Intacct and Percipient.
About NQ64
Founded in 2019 by Andy Haygarth and Matt Robson, NQ64 has grown from its original site in Manchester’s Northern Quarter to 9 retro gaming bars in major locations across the UK. The unique concept combines arcade games and classic consoles, with an impressive drinks list of specially selected craft beers, themed cocktails and sodas making it a haven for both gaming buffs and those looking for an experience-led night out.
Following initial funding from ThinCats in 2022, NQ64 has enjoyed strong growth expanding its’ presence in Manchester with the recent acquisition of Dogbowl, a New York-inspired bowling alley which combines five full-length bowling lanes, the new arcade, food from Kong’s diner, craft beers and NQ64’s specially chosen cocktail menu.
With this new funding commitment, management has earmarked 5 additional sites for 2023/2024.
Sage Intacct has proved a game changer for the financial management of our business. It has shortened our close period significantly, with the potential for more time and efficiency savings. But the real value comes via the insights it delivers. In a few clicks, we can easily view intelligence on any area, whether it’s a top-level overview of the business, details on a specific bar, or drilling into any anomalies to investigate the “why” behind a certain figure.
Modernising for Growth
NQ64 selected Sage Intacct for financial and business management at the end of 2021 to establish a platform that would flex and scale for further expansion and future growth.
Replacing Sage 50, which required an increasing number of workarounds and manual input as the company increased its portfolio of bars, Sage Intacct was selected from a shortlist consisting of SAP Business One and NetSuite.
The arcade bar’s decision was based on the innovative nature of Sage Intacct, its look and feel, and its user-friendly interface. Crucially, its ability to streamline financial processes, and deliver global consolidation easily, was important in freeing up time to help develop the business and enhance strategy.
Now with a total of 15 entities, NQ64 has ambitious plans to expand the business further, and points to Sage Intacct as a core enabler of channelling its investment in an optimum way, and achieving that growth in the most efficient way, as Zak Round, Management Accountant, NQ64 explains:
“Sage Intacct has proved a game changer for the financial management of our business. It has shortened our close period significantly, with the potential for more time and efficiency savings. But the real value comes via the insights it delivers. In a few clicks, we can easily view intelligence on any area, whether it’s a top-level overview of the business, details on a specific bar, or drilling into any anomalies to investigate the “why” behind a certain figure.
“Through looking at live financial data from across our different bars, all of which operate as individual companies, each with their own P&L, we can compare and spot discrepancies easily, stemming any potential problems and ensuring overspend is contained. It also allows us to use benchmarks which assist the analysis of insights.
“This information also means that our finance team can respond to questions from the business quickly and with the detail necessary, enabling faster, better decision-making, regardless of the area it pertains to.
Sage Intacct gives us intelligence to guide decision-making, and Percipient ensures that we are on the right track in how we use it, offering advice, addressing any queries and refining how it supports our business going forward.
A True Digital Partner
“Right from the initial stages, Percipient has proved to be a digital business partner in the truest sense of the word, taking time to understand our needs, and bringing a wealth of experience from across the hospitality industry to help us ensure the very best performance from Sage Intacct.
“The team’s professionalism, positivity, and responsiveness to queries, irrespective of their nature, has helped us hit the ground running with the system and really get the most out of it from the get-go.”
Steering the Business Forward
There’s no doubt that the hospitality industry has had a turbulent few years, as its recovery from the pandemic hits further challenges in the form of the cost of living crisis. There is no silver bullet to help overcome this, and businesses are having to seek out increasingly innovative ways to deliver an optimum customer experience and protect market share at a time when consumer spending is squeezed.
“While the back office might not be the most obvious place to drive innovation, ultimately having the right financial and business insights, in real-time, allows us to analyse figures and apply intelligence, giving us far greater tools from which to steer the business in our chosen direction,” Zak concludes.
“With plans to open more bars, and explore new concepts in our service offering, it’s reassuring to know that we have the very best digital platform at our helm. Sage Intacct gives us intelligence to guide decision-making, and Percipient ensures that we are on the right track in how we use it, offering advice, addressing any queries and refining how it supports our business going forward.”
Sage Intacct for Bars & Restaurants
If you would like to learn more about Sage Intacct, our work with NQ64, or to discuss how we can help your business, get in touch or call us on 01606 871332.