Client Background
Our client, a growing business in the retail industry, was facing challenges in managing their bookkeeping and accounting operations efficiently. They relied on QuickBooks for financial management but needed a more streamlined process for invoice review and approval to optimize their cash flow and reduce operational costs.
Business Problem
The client’s existing workflow required multiple managers to review and approve invoices, many of whom didn’t need full access to QuickBooks. This setup led to unnecessary licensing costs and delayed invoice approvals, affecting the company’s ability to manage working capital effectively. The client needed a solution that could automate their bookkeeping process, reduce costs, and improve the timeliness of invoice approvals.
Solution
Oasis Advisory Partners stepped in to develop a customized automation integration between QuickBooks and Excel, enabling managers to review invoices directly from Excel without needing full access to QuickBooks. We set up an automated process that pulled invoice data from QuickBooks into Excel, allowing managers to easily review invoices exceeding a certain amount or requiring special attention.
This solution not only provided a user-friendly interface for invoice review but also eliminated the need for additional QuickBooks licenses, significantly reducing costs. We also optimized the workflow to ensure invoices were reviewed and approved promptly, enhancing the client’s ability to manage cash flow more effectively.
Outcome
The implementation of the automated bookkeeping and accounting solution delivered substantial benefits for the client:
- Cost Savings: By reducing the number of required QuickBooks licenses, the client saved 20% on licensing costs annually, freeing up resources for other strategic investments.
- Improved Workflow Efficiency: The automated integration between QuickBooks and Excel streamlined the invoice review process, reducing approval times by 40% and ensuring timely payments.
- Enhanced Working Capital Management: With faster invoice approvals, the client was able to better manage their working capital, maintaining a healthier cash flow and supporting their business growth.
Through our tailored automation solution, the client achieved significant operational improvements, demonstrating the value of smart, strategic technology integration. At Oasis Advisory Partners, we’re committed to helping our clients optimize their operations and drive success.
Let us help you streamline your processes and achieve your business goals!