Business: SALT.agency
Based: Leeds
Website: http://salt.agency/
Anyone who runs a small business will tell you there are so many tasks to do that sometimes it’s easy to lose sight of the health of a business. The most important measure of health is arguably cashflow, but it can be hard to pass up-to-date information across the company.
As primarily a marketing and software company we need to focus on what we actually do, rather than worrying about our cashflow. At the same time we need to monitor cash closely in order to remain agile, and keep prices competitive.
After a failed attempt at trying to do this ourselves in Excel we started testing several accountancy software projects, eventually choosing one called KashFlow with integrated bank feeds.
One of the big advantages is that now we hit one button and it pulls all of our live bank statements into a dashboard, so we can visualise them against invoices and purchases.
We do this first thing every morning before our daily briefing meeting. Now everyone in the business can share the responsibility of ensuring we get paid when they are talking to clients.
Since this implementation our clients pay faster, allowing us to be more efficient on more projects.
In addition, we now can integrate this data via the application programming interface (API) with our time tracking and project management systems. This has increased profitability by more than 20% overall by reducing the amount of admin. In turn it allows us to be agile, suggesting additional new projects to clients.
Martin Woods is the technical SEO and marketing consultant at SALT.agency.
