Nettl of Gloucester & Cheltenham
With studios based in the heart of Gloucester and Cheltenham, Nettl are a web, design, print & marketing agency. Although part of a wider network, each Nettl branch is its own independent business, and as a result, has direct control over their financial performance.
Before we became involved, Nettl were struggling to update their accounts regularly and had a large amount of overdue debt. We revolutionised their reconciliation process so they could improve profitability across the board.
Services used
Digital diagnostic
Management accounts
Cashflow management
Our first step was to go through Nettl’s Xero ledger and ensure it was completely accurate, and we also introduced a series of tools to minimise the amount of effort Nettl needed to put in to their accounts.
Although they already used Stripe as a payment method (enabling clients to pay by card), we introduced a seamless integration to enable easy Stripe reconciliations giving a more up to date and accurate picture of their finances. Receipt Bank was added to assist the business with bookkeeping and do away with keeping copies of receipts. We also integrated Go Cardless with Xero so that customers could pay by direct debit, therefore improving cashflow.
Finally, we introduced management reports. These are sent to the directors each month, and we join them at a board meeting each quarter to review the numbers. Their bookkeeping is now much more regular, and they are able to make more informed decisions about their business.
Cashflow has greatly improved since our double-pronged approach of integrating Stripe and Go Cardless, and with a comprehensive set of management reports, Nettl have far greater insight into their current and projected revenue. Thanks to this, they’re in a much better position to realise their growth potential.