INNOVAT is a graphic design studio. The business employs 20 talented people and is the brainchild of entrepreneur and owner, Richard Brown.
The business had a relationship with an Accountant but Richard wanted a fresh start. He approached a new Accountant to take on their work. The initial brief to the Accountant was to assist the business with a review of their systems and processes. In a nutshell, Richard felt they were inefficient. His team worked very hard but he wanted them to start working smart. The measurable outcome Richard wanted was an improvement in billable hours for clients driven by his team achieving higher productivity.
The Accountant’s first suggestion was to transition to a cloud-based accounting system. This change was agreed and it made a huge difference to the efficiency of Richard’s business.
INNOVAT’s new cloud-based accounting system helped them:
- Automate manual business processes
- Increase data accuracy by eliminating duplicate entries to prevent errors
- Secure data with streamlined approval processes and data backup
- Gain access to data at any time for complete control and collaboration
The Accountant then reviewed all systems and suggested improvements (many based on feedback from Richard’s team). The changes were implemented and the updated systems documented.
The Accountants also assisted with the creation of annual reports for the previous year and helped INNOVAT to forecast and set business goals for the year ahead.
The Accountant invested time to develop an understanding of the business offering and its culture. They gained an appreciation for the team’s enthusiasm and expertise. The Accountant then offered a holistic service offering and differentiated itself from the previous supplier who delivered work on key dates with an ‘accountancy-first-and-business-growth-second’ approach.
Benefit to The Client
The Accountant partnered with the business and helped INNOVAT to improve their business in a number of ways. The move to a cloud-based accounting system made their business more efficient with fast access to data that helps connect business systems. Productivity was improved by 15% which had a positive impact for clients and achieved the goals set by Richard.