Alan Cooper, finance director at Liberty Leasing, recently took time out of his busy schedule to talk to us about his experience of selecting, implementing and using Twinfield Online Accounting software.
Liberty Leasing plc is an FCA-regulated asset finance company which provides asset finance to a selection of small and medium sized companies across the UK. The company’s compound annual growth rate of about 20% over the last five years took their loan book value to over £100 million in March 2017. As Alan says: “Twinfield has helped us in our growth… and it’s become clear that it’s going to be able to help us to grow much further into the future.” We’ll certainly do all we can to help Alan and Liberty Leasing!
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There are an estimated two billion people in the world who have a job but no bank account. In a country like Egypt, for example, only 3% of adults get their salary paid into a bank. That’s where dopay helps.
They provide a cloud-based payroll service that allows employers to calculate salaries and pay employees electronically. Unbanked employees receive their salary in a dopay account, which comes with a debit card.
Based in the financial heart of London, dopay has grown rapidly and now has operations in the Netherlands, Ghana and Egypt. Like any fast-moving, entrepreneurial organisation, dopay needs to be able to take decisions based on up-to-date financial information. It needs financial information presented in a consolidated form to show the group accounts as if it were a single entity. Financial information from each subsidiary must therefore be converted into a single reporting currency but each subsidiary has its own local accounting methods and checks so updates and corrections can be time consuming, especially across multiple time zones.
Goodman Jones is a London-based accountancy practice with extensive experience of working with international groups, large owner-managed businesses and small, growing organisations. Applying their deep knowledge and experience of the Twinfield Online Accounting system, Goodman Jones were able to help dopay prepare monthly group financial information efficiently, easily and cost effectively.
Khaled Abou-Zied, Group Finance Director of dopay says “The results are excellent. We finally have a much better understanding of our business. We can analyse our figures and can quickly identify the areas of growth. We can look at group accounts but also have the ability to immediately drill down to a specific invoice in Ghana if we need to.”