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The Cerebiz automation and tools support forward-looking financial management for Practices and SME Clients. That creates more value for both Practice and Client.
Cerebiz cloud tools for MYOB and Xero go beyond accounting
15 June 2020
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5 minute read
Cerebiz offers cloud-based solutions for automation of Cash Collection, Cashflow projection, Practice and Business Performance Management, Budgets, and more. The same Cerebiz solutions work for SME clients and opens up the potential for new Advisory services.
Two-way Cerebiz integration with MYOB’s AE/AO Practice Manager, MYOB AccountRight (ARL), and Xero Accounts provides those systems with automated processes and workflow that reduce processing time and labour costs. Cerebiz forward-looking capabilities go beyond accounting. Integrated Charts, KPIs, What-If scenarios, 80/20 Ranking and Sensitivity Analysis enable Advisors and Clients to collaborate and work ON the business.
A vital issue for any business, especially right now in COVID-19 times but also for any growing business, is the timely collection of their invoices. Slow cash collection is a major reason of poor business performance and even potential failure. Faster cash collection can boost working capital, provide a buffer for difficult times and finance growth. Management of cash flow and improving cash collection timing is a crucial part of the financial management of a business. Is any aspect of this an issue for your business?
Alexander Laureti, Partner at LMS Advisory in Parramatta, enjoyed business growth but looked for automation to bridge the gap between the MYOB AE Practice Manager system in the LMS back office and the modern cloud based business world which his clients benefit from.
He found the Cerebiz solution and this is his story.
'Cerebiz Automation is helping us collect Cash faster, communicate with Clients, and save my team considerable time which can be put to better use on Client assignments.
We've had our current staff doing more value-add services for our clients and we've had the technology, being Cerebiz, doing the transfer between ledgers and cross referencing of data in the background, which is where we want to be as a practice.
We want all of our staff to be performing e productive tasks as much as possible and let the software do the manual processing component in the background.
It has been a really, really good turnaround for our business so we appreciate that'.
In Adelaide, Trevor Harris, Partner, at MRL Group has been a Cerebiz user for several years.
This is his view on the problem and solution regarding business reporting and advice to clients, 'We used to spend a lot of time manually manipulating data. Having access to tools
Cerebiz provides has just been a breath of fresh air and has been able to actually alleviate us from producing that data at all.
I would much prefer to be advising the client than crunching data in the background and sending them a report every month.
So the Clients are looking at their KPIs, looking at their reports, and if they're doing that, they're not bothering us for the information and, again, I say, whilst accountants crunch data, I don't think it's really where we make money.
We've been able to shift our service provision to much more of an advisory model and, thereby, that can only be good for us from an economic point of view.'
It is difficult to find a quality suite of automated processes and practice specific tools that Cerebiz provides for accountants and their clients using the major accounting software pacakages without looking to piece together many separate programs, ledgers or apps in their “tech stack”. These systems do accounting, they do it well but every accounting practioner would tell you there is room for improvement; especially when it comes to enhancing productivity for the practice itself
Accounting, like the rear vision mirror in a motor car, shows what’s happened behind, not what may or will happen looking forward. Accountants still use spreadsheets predominantly to plug the gaps in those forecasting and budgeting processes. That’s what MRL used to do, and it was the same issue for Grant Thornton.
Christian Van Niekerk, Director, Grant Thornton Adelaide has collaborated closely with Cerebiz in the development of new age cloud based, browser and mobile analysis and reporting for GT’s clients.
Here, Christian talks about the GT journey over the last several years in looking for a solution to replace their spreadsheets.
'One of the issues that we identified a long time ago was the amount of reporting we're doing for Clients outside of the normal financial statements and tax returns.
So one of the things we do, as most practices would do, is create a set of Excel spreadsheets to produce graphs and the like to present to clients.
One of the issues we found is the sheer amount of time it took to put those templates together. Every year something would be different and new people would come on
board and we just spent a considerable amount of time putting these things together.
The client understood but didn't put a lot of value behind it. Therefore, the cost- benefit was really a big challenge for us to get our heads around for quite a long time.
Our (Cerebiz) Automated Reporting system saves many hours and enables moving from Annual meetings with Clients to Quarterly or Monthly higher value Advisory Service.
Clients really love it. It's timely. They make better decisions and, in a graphical format, it's easy to read; they understand it. I think that's the most important part.'
If your Practice or SME Clients are still battling with spreadsheets and manually keying data why not explore a different, more productive path and provide more value to your Practice and your Clients?
Check it out now at Cerebiz.com or call 02 8212 4209
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