How Andy Achieved a Stress-Free Month-End Close
With ScaleXP, Andy has replaced manual work with real-time automation. Invoices sync with Xero automatically, and gross margin reporting is now instant and effortless.
Watch to learn how Summit 17 use ScaleXP
Video transcript
Andy, fractional CFO, Summit 17: Hi, my name is Andy. I'm a fractional CFO at Summit 17. I primarily work with growing SMEs that are looking to get event ready, whether that's sell their business or gain investment, or whatever that might look like. I work with quite a few MSPs, managed service providers, and by their nature there's a lot of recurring revenues, recurring costs. So I was looking for a piece of software that could help us, give us better insight, let us see the margins that we're making on those products, that kind of thing. And ScaleXP was something that bubbled to the surface as we were doing some research.
So we implemented ScaleXP in January of this year, after some preparation from a sales and a cost point of view, and the difference has been amazing in terms of the clarity of the insight into the margins that we've got. So previously the different margin lines would be all over the place, and now we can see the individual margin lines, giving us better visibility, giving us a lot better insight and ways of looking into things. [unclear] costs and a lot of recurring revenue, and those can be over different time periods. So we may have an annual cost that we're paying up front, quarterly, monthly, and we may have the same for sales, but it might not align necessarily from a customer point of view as well from a supplier point of view.
So ScaleXP automates all that for us. Recognizes all the dates on the invoices that the team have put in, or automatically notices it from the invoices that have been processed, and allocates that across the time period that the invoices, whether that's bills in or invoices out, relates to, and just smooths all that process in terms of recognizing the revenue and recognizing the costs so that they all align, and you can see actual margin on a month-by-month basis. And that then gives you the ability to dive into those variances or exceptions, just to try and work out exactly what's happening.
I hope that's useful. Yes. Speak soon. Bye-bye.
