Family-owned Central Monitoring Services (CMS) is a large, independent security monitoring centre based in Sydney’s west. CMS offers 24/7 security services to residential, commercial and industrial customers across Australia. They recently approached Dexterous Group for assistance on how to streamline their accounting procedures.
Situation
CMS had managed their financial function within their in-house team for nearly 30 years. Last year, due to increased activity and the need for more specialised support, the business decided to seek professional expertise and input to streamline internal accounting processes and revolutionise them. Dexterous was engaged to provide additional financial support and streamline key processes which have allowed them to maximise efficiencies and utilise team resources more effectively.
Solution
Led by our Sydney Client Managers, Dexterous pulled together a small team of both onsite sit-in support and remote staff to guide CMS’ accounting process transformation in the early stages.
The initial phase of this engagement involved finance support of one Sydney Client Manager a day per week, supported by our Manila accountants two to three days a week collectively. During this time, Dexterous stepped up to lead tax and compliance, payroll, accounts payable, account management, cashflow management, financial statements, and general bookkeeping. Dexterous also provided regular financial software consultation and expertise.
The engagement has evolved over time and throughout Dexterous has remained agile and responsive to the client’s needs. As an example, our Collections service was required for a short period only and the client was easily able to ramp up this activity and then dial it back. The same can be said for our CFO services as the business seeks further growth and expansion.
“Working onsite means we were able to really add valuable guidance to the financial setup and process unique to CMS. Whether it was offering accounting software know-how, or diving deep into finding process efficiencies – sitting as part of the team enabled us to be key in helping the business move forward.”
– Adriana Kalotheos, Dexterous Client Manager
Ongoing Outcome
Dexterous’ sit-in accountants are in the process of scaling back to now support CMS remotely. Part of this support includes completing an exciting and innovative automation project for invoicing that will save CMS time and money by harnessing the power of Dexter, Dexterous’ bot.
Currently, invoicing consumes 15-20 hours of work a month for CMS. Dexterous has gone through rigorous testing, reviewing, trialling, refining, and programming rules to bring together data from two of CMS’ systems. This collected data will be translated by Dexter ready for import into Xero (CMS’ accounting software). Initially, Dexter will then be able to automate invoice delivery for CMS in approximately 12 hours. This delivery window will decrease as Dexter improves his efficiency over time.
“Dexterous has been integral in bringing our accounting processes up to speed. We are really excited about our next project together – automating invoices. It’ll be priceless. Instead of spending 15-20 hours a month sending out invoices manually, our team can focus on growing CMS to be Australia’s leader in security services.”
– Scott Kiely, Central Monitoring Services Managing Director.
Does Your Business Need to Outsource?
Dexterous offers fixed-price packages that are scalable to your business’ needs. That means that you receive professional accounting services whilst you only pay for what you need.
Talk to us today about your business on 1300 996 928 or hello@dexterousgroup.com.au.
