"First holiday in years” – Digitising a family business delivers lifestyle windfall
In this case study we explore how implementing the right systems to streamline and automate their manual processes created much needed capacity for these family business owners, allowing them to take a well earned holiday!
We were initially engaged as business accountants for our client’s family business, a successful long-term retailer with several established revenue streams. At first glance, their financial health seemed robust, but a deeper analysis revealed underlying inefficiencies. The numbers weren't the issue – the real problem lay in their outdated systems. It became apparent that critical business processes, such as invoicing and bookkeeping, were being handled manually. The client, despite his best efforts, was struggling to keep up with the growing administrative demands while also trying to manage and expand the business.
All business invoicing, along with several other processes, required a hands-on approach, often leading to errors, delays, and unnecessary stress. The client, in an attempt to cut costs, was attempting to run his own books, which resulted in late nights and working weekends. This unsustainable routine was not only affecting the business's efficiency but also taking a toll on the owner's personal life.
Recognising the need for a comprehensive overhaul, we implemented several transformative changes. The first step was switching the business to cloud-based accounting software, which offered a range of automation features tailored to their needs. We introduced an automated accounts payable system, drastically reducing the time spent on processing invoices. What once took hours of meticulous effort each month was now accomplished in mere minutes.
Moreover, WLM was brought in to handle the day-to-day processing of invoices, bank reconciliations, and payroll. This not only ensured accuracy and timeliness but also liberated the business owner from the gruelling task of managing his own books. Freed from these administrative burdens, he could now focus on strategic growth initiatives and spend quality time with his family.
This enabled him to work on the business more, and in the business less – transforming his work-life balance. The positive impact was immediately evident. That Christmas, we received a heart warming note he’d tapped out on email while driving across Australia with his family: “I’m writing to you while on holiday – the first one in many years – to say a huge thank you for the big difference you’ve made to our business this year.”
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