Chat with us, powered by LiveChat Driving management information through advanced software - YRH Finance Team

The challenge

The Finance Director of an international online retailer was become increasingly frustrated with the level of insight he could access through the company’s existing accounting software Sage 50. Whilst at the time of implementation Sage 50 provided all the functionality the company required to manage their day-to-day accounting needs, the company had evolved and as a result had naturally outgrown the system.

The solution

The organisation now needed a more advanced level of software that could help the Finance Director by providing powerful, real-time data across a number of different divisions in order to help drive decision making and allow him the time to focus on higher-value activities that would help grow the business.

Drawing on the support of a YRH part-time Finance Manager, the Finance Director identified Sage 200 as the best route forward. The advanced Sage 200 software enabled the company to combine the 2 systems they had been using previously, allowing the retailer to manage stock more effectively – not only online and instore but also for its wholesale channels.

Due to the complexity of the business the transition to the new system needed careful planning and implementation which is where the experience of the YRH Finance Manager proved invaluable, particularly when it came to transferring balances in multiple currencies and establishing complex reporting templates that could accurately report on work-in-progress (WIP) in real-time.

The results

By transitioning to Sage 200 the retailer was able to run detailed reporting by division, allowing them to gain new insights, identify issues and focus on identifying opportunities for growth. The YRH Finance Manager took a great deal of pressure off the Finance Director, allowing him to focus on the bigger picture knowing the implementation project was taken care of.

Summary

Sage remains one of the leading cloud-based accountancy software platforms, however, when it is not configured correctly to suit the individual business or is not kept up-to-date it can soon become clunky and frustrating. The same can also be said of Xero and QuickBooks and is a common problem in businesses solely employing in-house staff or self-employed bookkeepers who may lack the breadth of experience to be able to evolve the accountancy system structure in line with the growth of the business.

The online retailer was able to draw on the skills and expertise of YRH’s Finance Manager on a flexible basis, enabling them to upgrade and optimise their existing platform, incorporating the latest functionality and adapting their processes in line with industry best practice to suit the growing needs of the company.

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