Introduction
Spacemaker Modular and Portable Buildings Ltd is a leading manufacturer of modular and portable buildings including offices, classrooms, and suites in the Hull area. With over 30 years of experience in this industry, they are dedicated to excellence and focused on setting the standard for both quality and customer satisfaction.
The Challenge
Spacemaker had relied solely upon an internal administration team that dealt with the daily upkeep of the business and its financial records. This caused significant issues as the team had to individually input all of the company’s purchase invoices manually before being filed away.
Moreover, the company’s bank reconciliation process was also proving to be problematic as every month, a considerable number of bank statements needed to be printed off and then cross-checked against what had been documented in Sage. As a result, a substantial number of files were being stored within the office, and most importantly, Spacemaker was running several extremely time-consuming processes.
Furthermore, a pivotal member of the finance team planned to retire shortly. This presented Spacemarker with the opportunity to re-evaluate its financial operations, with optimisation and efficiency being a key focus and necessity moving forward.
Our Expert Says
Streamlined Financial Processes
“Witnessing Spacemaker’s transition to cloud accounting has been immensely fulfilling. Through tailored Xero training sessions and hands-on support, our collaboration has empowered Spacemaker to streamline its financial processes and embrace a new era of operational efficiency. The adoption of Xero and Dext has not only revolutionised their record-keeping but has also provided real-time insights, enabling informed decision-making and fostering a culture of agility.”
Jayne Waugh
Head of Client Transition
Northern Accountants
The Solution
Spacemaker’s previous accounting package emphasised a historical and retrospective view of their business performance. Specialising in Xero and cloud accounting, Northern Accountants was able to identify that the business would significantly benefit from the ability Xero has to provide real-time information and present key performance numbers based on the business’s live transactions.
The client also agreed with Northern Accountants’ recommendations to use Xero accompanied by Dext to support their finances and further automate the processing of accounting paperwork. Dext is a bolt-on app from Xero that reads and remembers vital information on uploaded receipts and invoices allocating them to the correct VAT amounts and nominal codes. These can then be published into Xero with receipts digitally stored for easy access when finding a bill or bank transactions.
A Seamless Transition
Having used the Sage desktop accounting software for over a decade, moving to Xero was a big change for the business. Owing to this, Northern Accountants Head of Client Transition Jayne Waugh, a specialist in Xero training and converting clients from old accounting systems to Xero, delivered comprehensive Xero training sessions at the client’s head office in Hull. This not only ensured a seamless transition but also empowered the finance team with the necessary skills to navigate the intricacies of Xero and Dext.
The conversion was hugely successful with Jayne arranging tailored Xero training for the business including smaller team sessions and fostering an environment where questions were encouraged and addressed. The successful conversion was marked by Jayne’s hands-on assistance during Spacemaker’s initial CIS and VAT return using Xero and Dext. Post-training, a robust support system was put in place, with scheduled touchpoints to form a long-term partnership.
The Benefits
The transition to a cloud accounting platform has enabled Spacemaker to optimise its finance function as well as significantly improving efficiencies around record keeping. The new Xero software delivered a range of benefits to the business from day one, such as:
Time Saving
Xero means they can easily find a copy of any invoices online which removes the effort needed to sort through files of purchase invoices manually. It has also eliminated the need for regular backups or for invoices to be manually inputted.
Improved Efficiency
The move to Xero and Dext streamlined Spacemaker’s financial processes, significantly reducing the manual effort previously invested in inputting purchase invoices and conducting bank reconciliations. They are no longer reliant upon one person to complete the bookkeeping, meaning they can focus on other areas of the business.
Less Stress
By embracing Xero’s real-time reporting capabilities, Spacemaker gained immediate insights into key financial metrics and transactions. This enhanced visibility empowers the company to make informed financial decisions promptly, so they can respond to changing market dynamics.
Better Organisation
Alongside the efficient nature of cloud accounting and Xero, Spacemaker now also has a considerable amount of office space with all their invoices now stored in the cloud.
Full Support
Northern Accountants offer a full Xero support service meaning for any questions they may have, we’re always only a phone call away.
The Client’s Thoughts
Truly Transformative
“Northern Accountants’ expertise in transitioning us to Xero was truly transformative. With their guidance and support, we seamlessly migrated from manual processes to a streamlined, cloud-based solution. The efficiency gains have been remarkable, allowing us to focus more on driving our business forward. Their ongoing support ensures we’re always equipped to navigate any financial challenge. We have built a great relationship together which has allowed us to propel us towards operational excellence with Northern Accountants truly invested in our success.”
Phil Lee
Spacemaker and Modular
Conclusion
The implementation of cloud accounting allowed Spacemaker to streamline its financial processes and propel the company into a new era of operational efficiency. The ability to access records promptly has expedited decision-making and empowered the organisation with real-time insights, providing a comprehensive understanding of its financial landscape.
This transformation has positioned Spacemaker as a more agile and optimised business, capable of adapting swiftly to market changes and making informed strategic decisions. As technology continues to evolve, the integration of cloud accounting stands as a testament to Spacemaker’s commitment to innovation and its proactive approach to leveraging cutting-edge tools for sustained success in the dynamic business landscape.
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