Tenet Consultants is a fast-growing engineering and design consultancy based in Warrington, with a second office in Anglesey. As the business grew, their finance processes started to slow them down, so they turned to our Digital Transformation team for support.
At a Glance…
Challenges:
• Limited control over managing corporate spend.
• Manual data entry Restrictive access to Sage Lack of connected solutions.
Benefits:
• Saved circa 2-3 hours a month on bookkeeping.
• Ability to manage the profitability of projects more accurately, and prevent scope creep.
• Increased control over corporate spend on cards and mitigate missing receipts.
Objectives:
The finance team at Tenet Consultants were in a position where they had grown so quickly, that they needed more from their finance solution.
From using Sage 50, their entire finance workflows were heavily manual. This included, but not limited to, the manual entry of purchase and sales invoices.
They knew they were at a time where having more flexibility, and additional automations and integrations were crucial for their fast- paced growth ambitions.
Solution:
It was clear that the key needs here were to adopt a more integrated and cloud-based solution to enable flexible working, with seamless workflows. The solution included the following:
• Accounting solution – Xero
• Purchase Invoice management- Dext
• Spend management – Moss
This meant that Tenet could move away from their accounting solution, which consisted of Sage 50, manually dealt with credit cards and implement more control with the likes of Dext & Moss.
Benefits:
- Increased automation
Xero and Dext have changed the way they work. With automated bank feeds, the reconciliation processes takes little to no time, being able to manage it more frequently. Dext has taken away the need for processing invoices manually, and automating the process for them. - Huge time savings
Since the move to Xero, they’ve not only allowed for additional flexibility around their workflows, but it has also saved them significant time on month-end and year-end reporting. - Real-time reporting
With Sage, it was always challenging to pull the relevant reports. Now, with templates, it’s easier and quicker than ever to run reports to help make strategic decisions, faster.
Carol Bold, Business Director/ Security SPOC said:
“Having someone like Beevers and Keaton who understands our business and can recommend solutions to fit has allowed us to run the business while growing massively. Without it, we would have fallen over by now.”
