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International financial reporting and analysis made easy with Twinfield

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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.

The Challenge

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.

The Solution

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.”

You can watch our video case study here.

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Increasing Operational Efficiency: Discover how Scotland’s business supplier of water and waste water services has adopted a cloud-based finance system to assist in its growth

Johanna Dow, Finance Director, Business Stream explains as to why the leading supplier of water and waste water services has increased operational efficiency and has created better value for its customers. By implementing Twinfield’s online accounting software, the organisation has achieved flexibility in its financial reporting throughout the business’ life-span to date.

When selecting a finance system, Twinfield stood out to us as providing the most value for money. One feature it offers is real-time management information through a web-browser. As we don’t have a large in-house IT team, Twinfield was the most cost-effective option, as there are no hardware, hosting or other costs involved.

A cloud-based solution that could meet our business needs was also something which we were keen on as we already had other cloud-based systems within the organisation, and Twinfield’s online accounting solution slotted very well into the ecosystem.

After the initial implementation in 2008; which was very successful and on time; we used the system for purchase-to-pay processes and general ledger. However since the implementation we have actually gone on to achieve significant benefits through other functionality. Over the years we’ve increased our use of the Twinfield system adding different functions due to its flexibility and low cost.

Our previous system was painstakingly complicated and required us to manually print and scan payments whereas Twinfield’s bank statement function allows these to be uploaded directly.

Because of this, using Twinfield has made us more efficient; giving us the capability to provide a more valued and quality service to our customers.

Crucially, as our business has grown and evolved, Twinfield has been flexible in response to any new needs we’ve had throughout the business life-span.

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Promotional Office proves to be the perfect match

How Twinfield UK’s partnership with Promotional Office is helping businesses in the Promotional Merchandise Industry

Alistair Mylchreest, CEO, Promotional Office tells us about their recent partnership with Twinfield UK, how it has been received by their clients, and how the two systems, integrated together, will assist customers and clients in managing their businesses better.

Having launched our Promotional Office Software a year ago, a cloud-based ERP & CRM business management system, the response has been very positive. The only function we didn’t provide to our clients was an online accounting package. As our brand in the Netherlands had previously partnered with Twinfield in the Netherlands too, it seemed like a perfect match as we trusted the Twinfield system.

As both of our solutions are cloud-based, they work ideally together. Twinfield’s online accounting system integrates seamlessly with our Promotional Office solution and can be implemented straight ‘out of the box.’

The benefits that users will achieve include increased efficiency, a streamlining of processes and reduced costs.

Since the solution launched in March, numerous customers have already begun using the joint solution and we hope to welcome many more to the service in the near future.

The relationship we’ve developed with Twinfield so far has been great. They were very open on working with us on a solution that would enhance our existing offering. They are good people and we are very much looking forward to working with them further in the future.

For more information, please visit http://www.promotionaloffice.co.uk/ or tweet us at @TwinfieldUK


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Fourth not the first to reap the benefits of joining the cloud with Twinfield

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Finance Director, Stuart Goldblatt of Fourth, a leading provider in hospitality management systems, focused on labour and inventory management tells us how leaving a legacy, office based package and joining the cloud with Twinfield has changed the business for the better.

Following a rapid increase in business since 2011, and our acquisition of US-Based, Adaco, we saw a dramatic increase in our global footprint, especially across the Middle East and Asia. Our customers range from global restaurant, club and bar chains to five-star hotel groups such as Starwood and Jumeirah.

Because of this, our previous legacy, office-based accountancy package simply wasn’t sufficient for our needs any longer. This led us to reach out in search for a cloud-based accounting solution.

We knew, as an organisation that provides cloud services globally and is focussed on progression, that the importance of our own accounting package being up to date was paramount. We began the search for a system that was designed for what we required and was flexible to our needs. We found the right fit, and that right fit was Twinfield.

In November 2011, we implemented Twinfield in the UK, and due to its success, we are planning on introducing the solution stateside in the near future.

The success has been down to numerous benefits we have discovered since implementing Twinfield. In terms of usability, easy access, multiple users and hierarchies as well as it being highly secure are the main advantage.

We have saved a considerable amount of time due to the solutions ability to predict recurrent transactions which makes updating data a far smoother process.

One of the key elements in our process to selecting Twinfield was the solutions ability to be integrated with our Enterprise Resource Planning (ERP) system. Our team can now use this combination for invoicing, debtor management and general month-end reporting.

This integration was really important to our business and it has certainly delivered significant efficiency gains and is saving labour, time and money.

Take a closer look at the benefit of Twinfield for Business by clicking here.




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Receipt Bank joins forces with Twinfield

Leading receipt and invoice processing service provider Receipt Bank joins forces with Twinfield

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Receipt Bank integrates with Twinfield to minimise the time it takes accountants, bookkeepers and SMEs to enter invoices and receipts into accounting systems, improving efficiency and enabling innovation in service provision

Receipt Bank, a provider of an award-winning receipt and invoice processing service, has partnered with Twinfield, Wolters Kluwer’s online accounting business. Receipt Bank’s existing functionality will now integrate with Twinfield’s accounting solution to help accountants and bookkeepers improve efficiency and enhance the service that they can offer to their respective clients.

Receipt Bank provides services to accountants and bookkeepers around the world. The technology allows users to scan a receipt; be it via a smartphone camera or a standard printer/scanner, which is then uploaded to the users’ Receipt Bank account. The scan saves the data from the receipt, along with a physical image of the receipt, which can then be published or sent to Twinfield’s online accounting system as a PNG file.

The application, which can be accessed from most smartphones, including iPhone and Android, allows for users to conduct bookkeeping and accounting services whilst on the move; saving time and improving efficiencies. Additionally, the system allows for the client to keep a digital copy of the receipt if required, for their own records.

Tosca Hoefer, account manager, Receipt Bank commented: “The benefits of Receipt Bank will be of great use to Twinfield users. The main benefit being that users who don’t currently offer a bookkeeping service to their clients, will gain the capability to do so, simply and easily. Previously firms may have avoided offering this service due to the time-consuming nature of data entry, as well as the possibilities of human error; our technology resolves these barriers.”

“In addition, though, the time saved by accountants and bookkeepers will become valuable time that can be used instead to offer additional, innovative and value-added services such as account management and analysis. Our technology aims to save accountants and bookkeepers one hour per week per client, which is invaluable in today’s market.”

Tosca Hoefer explains: “It’s been a complete pleasure to work with Twinfield. Everyone I have encountered has been extremely helpful. It’s been great to work alongside a team that was highly motivated in getting the Twinfield-Receipt Bank integration off the ground.”

Barbara Kroll, managing director, Twinfield UK, said: “The addition of Receipt Bank to our already growing list of partners is one that we are extremely pleased about. At Twinfield we are delighted to be able to offer our clients yet another solution which can help to streamline processes, drive efficiency and enable the provision of new value-added services.”

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