Case Study: Matrix Control Solutions sees 60% saving on financial accounts and reporting time

The Challenge

Matrix Control Solutions (MCS) needed a finance system that would offer complete management control over their IT solutions with financial visibility, yet at the same time would empower staff and support growth. The need for control and accountability was required by the firm to produce consistent results. The need for detailed and accurate reporting capabilities was fundamental to strengthen and ultimately ensure a standard of financial management. As a result MCS needed to find a suitable solution that enabled complete financial transparency.

Mike Ramsden, Technology Director of Matrix Control Solutions, said, “When I joined Matrix, we needed to professionalise the organisation to meet the strict financial requirements required to grow. We needed to keep complete control and visibility over key processes for shareholders, and management.

Professionalising for M&A

Matrix Control Solutions were tracking invoices manually, navigating numerous spreadsheets and chasing debt. There was the opportunity for errors and that needed to be addressed before taking on new growth plans. The organisation knew that they had to automate and consolidate and optimise processes through efficiency; fundamentally they needed to ensure the possibility for errors were dramatically reduced.

Mike elaborates, “The numbers we produced needed to be water tight. We needed to streamline and future proof it all while being confident in the accuracy of figures delivered when it came to audit.” The organisation was challenged with delivering key information in a timely and accurate manner; MCS needed to implement a solution
before the start of the new financial year to become compliant with reporting deadlines.

Mike recalls MCS’ review process, “Our CFO stepped up for the review of our systems. We looked to eliminate all manual processes and increase the speed and accuracy of our reporting. We went out to market to find the right solution that could deliver on our objectives. Access were highly competitive on price, service and solution offered. The proposal stood on its own feet and the demonstration reinforced this – the feeling for the company was strong from the start.

“I used Access in a previous company. I had confidence that Access could deliver the solution we needed and could generate the result required to remain compliant. As a venture capital backed business you need credibility, transparency and professionalism on all accounts. Access understood our needs and knew how to deliver a solution with growth and transparency in mind.”

The Solution

MSC implemented Access Finance and project management solution. Mike explains, “With Access we needed a bullet-proof accounting system, we needed a solution that we could be confident in. The real innovation and game changer for us was the financial and project management solution provided by Access. The ability to automate processes, previously handled on spreadsheets, would streamline our entire business, enabling us to hit peak productivity and efficiency on all of our processes, especially
when it comes to reporting.”

Now MCS is dramatically reducing its data-input thanks to both the automation and integration capabilities provided by Access and the ability to access the solution through a browser. This was key to their success - consolidating data and making key information visible for decision makers, at any time in any location.

“Access knew what we wanted and what they needed to do to deliver a solution that would meet and exceed the requirements of everyone in our organisation. The entire process was incredibly straightforward,” adds Mike.

The Implementation

Mike elaborates, “We had an implementation plan which we followed and Access delivered. We were filled with confidence, the team kept it simple. This worked incredibly well for us, the entire process was a great experience. Downtime was kept to a minimum and in threedays the system s were in place and the business started processing invoices, allowing the sales ledger to migrate seamlessly. “If we had any issues, Access always made themselves available regardless of time of day or location. We never felt isolated,” adds Mike.

The Results

The entire project was delivered on time and on budget. Mike elaborates further, “We now have complete visibility of our key processes and reporting is available company-wide. We’ve automated, consolidated and eliminated data duplication and effort of management.”

Delivering noticeable benefits by Q1 the organisation creates a whole suite of reports. This has directly made a noticeable difference to management performance. Mike adds, “We’ve grown 150% in terms of turnover and staff compared to when we took the system on, and our finance department has only grown by one additional member. We’ve managed this growth with the utmost professionalism, staff are making more informed decisions, have greater control, and our overall business has been streamlined.

“We now deliver our reports by the third working day; we wouldn’t have been able to do this without Access. Our reporting has gone from 20 working days to eight, resulting in a 60% time saving on our financial accounts and reporting alone.”

“Each month, we’re delivering faster reports,” said Mike. Timesheets and expenses has been consolidated, data and information is readily available and visible company-wide. This has further strengthened financial accountability and management of cash-flow, allowing management to make informed decisions based on accurate information which has put the organisation at a competitive advantage.

Mike concludes, “We’re now 100% happy with running our own system. Our goal to strengthen and develop our operational performance through enhanced processes has successfully been achieved whilst setting the business up to handle further growth.”

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