Online accounting creates a “virtuous triangle” that puts an extra £65,000 cash in the bank
One of the proclaimed benefits of online accounting is that many people can access the same data through a secure connection. Mixam Ltd. exploited this to solve a common business problem.
Mixam specialises in print services. All of their resources are consumed by sales and production requirements, which led to a large backlog of unpaid sales invoices. And the problem was getting worse over time.
TAK-Credit Management have a specialist credit management team. Although TAK’s team is many miles away from Mixam, there are no geographical boundaries in online accounting, so they became part of Mixam’s business and solved the backlog, resulting in an extra £65,000 in the company’s bank account.
Mixam’s accountants continued to play their part, resulting in a “virtuous triangle” between company, accountant and specialist service provider, with everyone having access to the most up-to-date information.
To see the full case study, click here.
Posted by Mark Davies
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