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Background
This retail business was already a client for the Business Advisory department of Scrutton Bland but we became aware that their accounting systems for the business were not compliant with Making Tax Digital and needed to be updated.
Whilst the directors of the business were aware they would benefit from moving to a cloud-based accounting system they needed to talk to an adviser who was:
- knowledgeable about current accounting software for retail
- friendly and approachable and didn’t overwhelm them with jargon
- able to make suggestions based on their individual needs and budget
- aware that the staff had multiple roles in the business and didn’t want to spend most of their day doing accounts
- happy to stay in touch to provide guidance as the new systems bedded in
Challenges
- Financial management systems were slow and inadequate in what they could report
- Stock control system was also outdated
- Online sales software was limited and needed better integration with the website
- Too much time was being spent on manually processing accounts
- None of the existing finance systems connected properly with each other
How we were able to help
We liaised with our inhouse current software providers and specialists to provide suggestions to automate and integrate their retail management systems to include
- New stock and point of sales systems 3 new finance systems
- New purchase management software system
- New software for the website to incorporate a loyalty scheme
We also identified that this retail business would benefit from a staff management system of digital timesheets, and we also set out recommendations for upgraded software for the online store on their website.
The software integrates and ‘talks’ to every other part of the system and software included
- Xero cloud-based accounting system
- Cin7 stock management software, which then integrates with
- Shopify point of sale (in conjunction with Bluehub)
- ApprovalMax automated workflows for invoices, sales documentation, credit notes etc
- ReceiptBank to track record and store invoices
- Deputy staff rota and time clock app and geotag (connecting to Xero Payroll)
- 9Spokes data dashboard holds all the key information to give an overview of business activity
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