Industry:
Bookkeeping services
Objective:
To implement a solution that helps accountants and bookkeepers significantly reduce their review time and speed up their close process without compromising the accuracy.
Why Xenett:
- Existing legacy financial close solution were not addressing current business needs and needed to be elevated into an internationally-distributed accounting department’s operations
- Desired a user-friendly, easy-to-setup, close management solution.
Outcome:
- Established a new benchmark of accuracy that was unattainable previously.
- Pivoted intelligent review solutions, making the team more efficient and productive.
- Uninterrupted real-time information related to all the ledgers, payroll, receivables, and many more.
Woodennickel Solutions specializes in full-service bookkeeping for medical offices, related organizations, and charities.
For over a decade, they have been working in a paperless environment and using technology to convert high-end accounting tasks into simplified solutions for businesses.
They function on the "no cheque principle” and encourage making all the payments. online.
The team needed a system that was organized and comprehensive, and there was no prior software that could streamline and structure the review process.
Solution:
A new tool or process became a prerequisite with a steep rise in clients post-covid-19. The accounts became unmanageable, even more so with a remote work environment.
What better than Xenett to streamline and better manage clients?
How Xenett boosted the confidence of accountants at Woodennickels!
With the launch of a remote work environment post-Covid-19, the accountants were struggling to manage the books of increasing clients and manage queries, client communications, and work within the team.
Don't take any wooden nickels!
Xenett was built for companies that work in an Excel environment, and the software is very intuitive. Within two months of implementing Xenett, we saw a change in how our accountants were responding to the close process. It was quick and easy to implement.
“It established a standardized process which was a set benchmark for every team member to follow, as a result, employees were more involved with the system — what more could we ask for?” The objectives of the team were aligned, assisting us in streamlining, organizing, and hastening the closing process.
With medical and service motive organizations, it's difficult to quantify the numbers, and it becomes increasingly difficult to extract clean data. With Xenett, bookkeepers were able to get accurate and decision-ready information at every level. It saved us plenty of time, and month-end hustles are no longer a part of our lives.
“If you're using a new customer account or a dormant account, Xenett will flag them for you. It's insane what it finds and how it finds miscoding in much less time.”
In the end, it did not take the team long to identify the positive impact of Xenett.
“The uninterrupted real-time information that we were able to extract from Xenett immensely improved the quality and accuracy of our books.”
