Acuity is a US-based accounting firm that specialises in bookkeeping and accounting for small businesses. They are tech leaders in the accounting field, and are always looking for ways to make their work more efficient and save money for clients.
A2X – which helps them automate some complex processes, get accurate numbers, and speed up their results – does just that. After implementing A2X and seeing the difference it made, the team at Acuity recommends it to all their Amazon clients.
Acuity’s Cloud Accounting team leader Sammy Siddique explains:
Our company is highly focused on automation and how we can help our clients build efficient accounting practices. A2X really helps us in automating processes and building a more efficient workflow.”
Small clients, big changes
Cost is one of the major drivers for Acuity. Although the firm has a number of large clients, their focus on entrepreneurs and start-ups means many of their clients are small businesses. Acuity offers affordable packages for these clients, who don’t always have a lot of cash to spend on accounting services.
However, things get complicated when smaller clients need more complex accounting. Amazon sellers, who make up one segment of Acuity’s clientele, can be particularly tricky because the data that comes from Amazon isn’t always easy to reconcile with bank statements and income.
Sammy explains that in the past, balancing the books for these clients meant bringing in a controller to go through the numbers line by line – this was time consuming, costly, and often inaccurate.
With A2X, balancing the books for these clients becomes a matter of minutes, and better yet, the numbers are consistently accurate. This means the Acuity team can offer a better service without increasing costs to their clients.
It balanced to the penny – we didn’t have to do any adjustments. The level of detail coming through, I was impressed. It’s very exciting to us when we can offer more to our clients, and do more for them.” Sammy Siddique, Acuity.
The ability to go back through historical sales data is one of the features that makes A2X unique. According to Sammy, this has made a huge difference for several of their clients.
The client started a business in March 2017, but didn’t approach Acuity for help until early 2018. A2X gave the Acuity team instant access to 10 months of historical data, which meant they were able to give the client accurate numbers, without hours of work. Sammy explains:
The fabulous thing about A2X is it can go backwards – other platforms can’t look at historical data – and that was very beneficial for the client. It was a matter of having accurate financials at a reasonable cost, the fact that they have a basic package that gives them a profit and loss, a balance sheet with their correct reserve balances, and captures their Amazon sales that they can use to file taxes.”
Moving away from the basics
As technology evolves, so will the accounting industry. Software that automates mundane accounting processes will become increasingly common and well-used. Sammy explains:
It’s an exciting time – we’re moving away from the basic data entry and basic mundane stuff. It gives our team members the chance to shine and show that their capabilities extend far beyond just data entry.”
As leading users of accounting technology, Acuity are always on the lookout for new ways to automate and offer more to their clients. A2X is one of their best success stories so far.
We get a lot of value having a tool that works. It helps us keep our packages cost-efficient. So we’re in a great position to help clients solve problems moving forward, rather than focusing on the lower level stuff that was taking up our time.”
Benefits for Acuity:
- Accuracy – access to complete, accurate historical data
- Time savings – data from Amazon feeds directly to Xero
- Reduces costs – automation means Acuity can offer cheaper packages to small clients