How We Helped a Client Migrate Their Accounting Software and Boost Their Business Performance & Compliance

In this case study, we will share how we helped our client, migrate their accounting software from a legacy system to a modern cloud-based solution. We will also highlight the benefits they experienced from having more customer-focused and user-friendly accounting software to manage their business.

The Challenge

The client was a small to medium-sized business with less than ten employees but more than thirty contractors. They had been using accounting software which they had outgrown and required something which would keep up with the growth of the business and provide more in-depth decision making data.
They needed software which would allow them to continue growing, whilst having comfort in the numbers they were reporting for their high number of contractors. The new accounting software had to be aligned and supportive in their need to run their business efficiently and effectively,
Some of the challenges they faced with their old accounting software were:

Lack of integration with their accountants financial reporting and tax software
Lack of automation and customization, requiring them to perform tedious and error-prone tasks such as data entry, reconciliation, and reporting.
Lack of third-party integrations to allow for compliance and record keeping
Lack of scalability and flexibility, hindering them from adapting to the changing needs and demands of their customers and the market.

The Solution

After an initial scoping session, we quickly understood the need for detailed information to be migrated from the old accounting software to the new accounting software. The compliance aspect of their business did not allow them the luxury of having secondary accounting software for old transactions to be referred to.
Our experience in accounting software migration allowed us to develop a migration strategy unique to the client’s requirements. Keeping large amounts of historical information at their fingertips whilst implementing some best practice processes and functions.
We proposed to migrate their accounting software to a cloud-based solution that would provide them with the following benefits:

Integration with their other business applications, enabling them to have a single source of truth and streamline their workflows.
Automation and customisation, allowing them to save time and resources and tailor their accounting software to their specific needs and preferences.
Accessibility and mobility, empowering them to access their financial data and reports anytime, anywhere, and from any device.
Security and reliability, ensuring them that their data is protected, backed up, and updated regularly and automatically.
Scalability and flexibility, enabling them to grow and expand their business without worrying about the limitations of their accounting software.
Introduction of third-party integrated applications which would increase compliance and substantiate regulatory requirements.

We conducted a thorough assessment of their current accounting software and their business processes and requirements. Mapped each process and what key items / processes were must have, should have and nice to have. We then selected the best cloud-based accounting software that matched their needs and budget.
Part of the solution was to provide support post implementation via training and regular catch ups to enhance their use of the new accounting software and ensure all process outcomes matched the scoped solution.

“We engaged with Omnia to migrate our data from Quickbooks to Xero, a task that was too daunting for us to try to attempt on our own. Omnia made this transition smooth and pain-free. They were extremely supportive and patient with us during and post migration – answering all of our queries promptly and giving us guidance on how we can best utilise the system to improve our finance processes.” – The Client.

The Results

Within budget and by the due date, the team at Omnia Business Solutions migrated across five (5) years of historical detailed information including more than 15,000 bank transactions and 2,000 client invoices (at a line item). Each month’s financials had been reconciled to the cent and the client had a fully functional accounting software which seemed to be there since day one.
After migrating their accounting software, the client saw significant improvements in their business performance and customer satisfaction. Some of the results they achieved were:

Improved efficiency and productivity, as they were able to automate and streamline their accounting tasks and workflows and eliminate redundant and manual work.
Improved accuracy and quality, as they were able to reduce errors and discrepancies and ensure data consistency and integrity across their business applications.
Improved visibility and insight, as they were able to access real-time and comprehensive financial data and reports and make informed and data-driven decisions.
Improved customer service and loyalty, as they were able to respond faster and better to their customer inquiries and requests and provide them with more value and satisfaction.
Improved profitability and growth, as they were able to optimise their costs and revenues and seize new opportunities and markets.
Introduced best-practice accounting practices and introduced new software to support their statutory & compliance requirements.

Conclusion

By migrating their accounting software to the cloud, our team was able to transform their business and gain a competitive edge in their industry. They were able to leverage the power and potential of a more customer focused and user-friendly accounting software to manage their business more effectively and efficiently. We are proud to have helped them achieve their goals and objectives and look forward to continuing our partnership with them in the future.