Case Studies

Panera Bread

Issue link:

Contents of this Issue


Page 0 of 0

1 Panera Bread is a recognized leader in fast casual restaurants with over 2,100 bakery cafés across the United States and Canada operating under the Panera Bread® or Saint Louis Bread Co.® brands. As the company continued to grow, Panera began looking for a partner to facilitate all aspects of their real estate strategy and store development processes to support future café growth and ensure compliance with the FASB ASC 842 lease standards. Panera recognizes the value of a strategic approach to real estate and store development and had previously leveraged several separate solutions to meet their goals. However, internal and regulatory changes outpaced the existing solutions' ability to accomplish long-term goals and they began to look at the next generation of solutions. Moreover, the new FASB ASC 842 standards were looming, and there was a high probability that achieving compliance would require a re-implementation of existing software. Panera saw this as an opportunity to assess their then-current providers and search out the right long- term solution. Tango's Lease Administration & Accounting solution, designed and developed from inception to comply with ASC 842, was the obvious choice for Panera Bread. Additionally, Tango offered more than a Lease Administration & Accounting point solution. Tango's end-to-end Store Lifecycle Management provides a holistic approach to managing the real estate and store development lifecycle. Panera selected Tango's Transactions, Projects, and Lease products to help them address the challenges they were facing. The implementation of a new project management solution will help support new construction, remodels, and refits. The integration with Panera Bread's modelling and site selection tool enables better visibility into potential sites and new stores, and which were closing or being remodeled. Each of the products in Tango's Store Lifecycle Management suite was designed from the ground up to address strategic challenges and, coupled with Tango's deep industry knowledge and experience, Panera Bread began to see the benefits of the solution quicker and at lower overall cost of ownership. As for their critical ASC 842 needs, Tango's history of guiding companies through to compliance with built from the ground up solutions gave them peace of mind. TANGO Tango's Store Lifecycle Management and Integrated Workplace Management System solution manages the entire location lifecycle—from real estate to design, construction, lease administration & accounting, facilities maintenance, and space management—within a single global platform in the cloud. We have worked with over 500 leading companies, and bring that knowledge and those best practices to help our customers make smarter decisions about their real estate. Our multi- tenant, cloud-based SaaS and mobile solutions are used across more than 130 countries by concepts ranging from a few dozen locations to large global brands with more than 40,000 locations. Schedule a demo today. PANERA BREAD CASE STUDY

Articles in this issue

Links on this page

view archives of Case Studies - Panera Bread