Through using cloud accounting software, we have noticed a number of improvements to our business, including greater profitability, increased productivity, time savings and an enhanced customer experience.Our client, the owner of the business
About our client
Our client, a growing business involved in on-site installations, had been trading for three years.
Alongside managing a team of fitters, the owner of the business employed a traditional bookkeeper to carry out the business administration services and accounting function.
The challenges
Limited resource meant that keeping track of company performance and cash was a secondary concern, which meant that:
– Slow accounting processes meant that profits were calculated over three months after year end;
– On-site fitters had to complete paperwork in the office at the end of each week, resulting in clients being invoiced late and the business owner being paid months after each job was finished; and
– Invoicing was a time consuming process, and took the overstretched bookkeeper at least one day per week to complete, taking valuable time away from other duties.
To find a solution, our client approached PM+M and made the decision to install cloud accounting software.
THE OUTCOME
MORE EFFICIENT INVOICINGCloud accounting provided our client with a faster way of producing invoices and sending them over to the client via email
CASHFLOW INSIGHTSCustomer payments began being posted automatically, meaning that the owner had a clear insight into cash position and was able to make better decisions
ON-THE-GO ACCESSThe owner was able to access the company's accounts from his phone and approve invoices whilst out and about
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