How Archimedia assisted a digital marketing company in developing effective financial reports
About Imaginaire
Imaginaire is a digital marketing company based in Nottingham. They are a wonderful business run by a great team. They provide all forms of digital marketing services to SMEs in Nottingham and Nationally. They’ve seen great growth over the last few years.
Their purpose is to help businesses grow and set the right first impression.
Imaginaire's Problem
When Imaginaire came to us, they had experienced some frustrations with their existing accountant, specifically around communication and the effectiveness of the financial reports. As a growing business, they needed more robust and timely financial information than they were currently getting.
The problem with the financial information they received was that it wasn’t delivered as quickly as they wanted it, and sometimes it lacked in quality. They needed to be able to send out customer statements, track outstanding customer balances and gain insights into how the cash position translated into profits. Unfortunately, the depth of reporting they required just wasn’t there.
In addition to that, the owner also felt that the accountants weren’t being proactive enough in trying to save as much tax as legally possible for the business.
Archimedia's Solution for Imaginaire
When they came on board, we got working straight away on enhancing their online accounting program. There were things being done that were detrimental to the reporting, such as unnecessary journals, whilst simultaneously identifying gaps in vital information that the business required.
We also streamlined the bookkeeping process so they know exactly who owes them money and who they owe money to. The reporting is now much more comprehensive and reliable. This financial stability has enabled the company to integrate a financial forecasting and budgeting program called Fathom into its operations.
Overall they feel far more in control of their business finances, providing a solid foundation for growth and investment in their business endeavours.
Testimonial
“We’ve been delighted with the move over to Archimedia, they’re always responsive to any of our requests and have cleared up a lot of the data in Xero for us — this means we can get actionable data quickly which is vital as we grow.”