A team building company has installed cutting edge accounting software.
Team building business Bluehat installed Xledger at the start of its financial year.
The agency, which has offices in London and Hertfordshire, plus a US subsidiary in Washington DC, has trebled in size in terms of turnover and headcount in the past seven years.
Head of finance Duncan Lynn said: “We’ve grown to around 35 people and have the widest product range in the global team building market, frequently licensing our products to other countries,” he says.
“A lot has changed in the time that I’ve been with the company, particularly in the last two or three years, and we were reaching the point where our legacy accounts software was not meeting our needs.
“We were looking for efficiency, control and better management information from our package and the catalyst for making a change was our growth strategy. We have some ambitious plans to grow organically and through developing new revenue channels, and the fact that we now have a US subsidiary meant that we needed to do this without driving our overheads through the roof.”
“Part of the rationale was the desire to ‘future proof’ our business, safe in the knowledge that switching to Xledger would not create a spiral of work at the back end which would end up eating up all of our profits.
“Another prime motivation was to drive growth by providing efficiencies, controls and better management information – and finally, compliance in terms of being an international group.
“It is early days and we’ve not yet realised all the benefits, but for example, we’ve already seen a lot of duplication removed from our accounts office due to the manner in which Xledger integrates with our other software.
“In terms of management information, there was a compelling example of a piece of work which we wanted to produce on a regular basis last year. This project took two days to write and then a considerable amount of time in the production phase, but with Xledger the whole process took less than five minutes.
“We are probably smaller than most of the businesses which typically use Xledger but nonetheless we were impressed with their team’s appreciation of the potential for forward-thinking businesses with growth ambitions like us, to harness their system’s capabilities.”
Tim Hooper, business development manager at Xledger, said: “The key for Bluehat was to acquire the ability to support its subsidiaries without having to add to staff headcount.
“It is a very ambitious business and the adoption of Xledger will allow it to take the next steps towards realising those ambitions.”