Taking a dynamic approach to financial management, Gains Accountants is empowering Food and Beverage (F&B) company owners to run sustainable and profitable businesses, without burnout.
Knowing these businesses need more than an accounting firm traditionally offers, this forward-thinking practice set out to deliver not just services but solutions to the unique problems faced by the hospitality sector.
Here, Phool Ashraf tells us how the integration of Modulr and BrightPay technology is helping Gains Accountants to address some of the key issues effecting F&B businesses, and to bring structure, efficiency and insight to their business model.
A holistic approach to accountancy
As the Food and Beverage industry continues to experience a number of significant risks, the need to prioritise agility and efficiency has never been more important for survival. Operations tend to be expensive and time consuming which not only eats away at profit, but also reduces outputs and quality of service. Often, these operational problems stem from a lack of control or the continued use of manual systems.
In meeting the needs of this challenging industry, Gains Accountants does so much more than simply tick off compliance-related tasks, but instead transforms F&B businesses through supportive working relationships.
“The purpose of running this practice is to offer transformational services. We wanted to encourage and empower hospitality businesses to see challenge and change as an opportunity, rather than a threat.” Explains Gains Accountants’ Phool Ashraf.
The company’s signature SEI (Structure, Efficiency & Insights) method was created to set its F&B clients up for success, for years to come. This holistic approach allows businesses to run predictably and autonomously, whilst cash reserves and profits build up. It’s a strategy which leverages the power of technology to automate workflows, saving time and manpower whilst reducing errors and wastage. And, it’s one which has now been systematically enhanced with the integration of Modulr and BrightPay technology.
“Before we integrated with Modulr and BrightPay, our payroll workflows didn’t have the efficiency that we now have. And that's where Modulr has bridged the gap, providing that automation.” Said Phool.
This innovative integration eliminates the manual workload associated with making payroll payments, allowing Gains Accountants to pay directly through BrightPay and provide their clients with seamless payroll workflows.
A single and secure online portal allows Phool and her team to make payroll payments at the same time as running client payroll, saving precious time while removing both manual processes and costly errors.
“Previously, we would be spending 25 to 30 minutes for every 12-15 payroll payments; checking bank accounts again and again, making sure every penny is correct and every deduction’s been made. Now, with the help of Modulr, this process takes us just 10 minutes. And that’s a huge difference. Beside the overall impact on payment workflows, we've also been able to make our verification process much more efficient and our accounting records more streamlined, so we’ve seen both direct and indirect efficiencies.” Said Phool.
“One of our biggest clients has 300 employees on average and they used to run payroll themselves. Now, we run payroll for them and we can make the payments, together with all the necessary verifications, in a day, which for the number of employees, is just amazing. I think we’ve achieved at least 50% efficiency.” She adds.
A seamless and smarter customer service on time, every time.
Gains Accountants now enjoys the ultimate in payroll convenience, with instant payments 24/7, and the flexibility to schedule payments in advance or make last minute changes. And all without the need for manual exports or file uploads to banks.
Phool and her team also benefit from accurate and real-time data allowing them to provide a premium client service and richer insights to improve their clients’ business performance - helping Food & Beverage business owners to set up their businesses for success, for many years to come.
"Automation in our workflows is essential to our ability to deliver transformational services to the F&B industry. We simply do not have time to spend hours and hours entering and verifying data at a granular level. We want systems to do that for us. These systems help us to achieve 99% accuracy, and then we’re able to provide the 1% human touch that makes a personable difference to our clients’ businesses.”
Integrating Modulr with your favourite accounting software can reduce your payment processing time by 80%.
Modulr integrates seamlessly with your the software you already use - including BrightPay, IRIS and Sage - and pulls data across automatically and securely, so you can manage client payments in just a few clicks.
Speak to an expert today.