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Case Study: How Receipt Bank helped Farnell Clark grow 40% year on year

Will Farnell set up Farnell Clarke in 2006 following 12 years of small business and public practice experience. The firm is dedicated to making a positive difference to every one of its clients through the delivery of a personal and professional service.

Will comments: “The thing I love most about my job is the opportunity to make a difference to our clients and seeing them succeed in whatever they strive to achieve.”

Will first truly engaged with Receipt Bank when a catch-up with KashFlow at Accountex 2013 led to a chat with Nelson Da Silva, Receipt Bank’s UK Country Manager. Will was impressed by how Receipt Bank’s numerous different submission methods made it incredibly easy to submit bills, invoices and receipts, and was excited about how much simpler this could make bookkeeping for his clients.

Previously Farnell Clarke had been using in-house staff for bookkeeping, with clients coming to the offices to drop off all their invoices and receipts, and the staff inputting the data manually. This system was working well, but Farnell Clarke pride themselves on always looking to streamline client services and saw Receipt Bank as a key partner to help them move forward with this. Will explains how Farnell Clarke is continually improving their client offering to stay right at the forefront of the technological wave moving through the accounting profession:

“Farnell Clarke aims to stand out from the crowd by working smarter. This means ensuring that we are constantly looking for technology that helps us to innovate and ensure our client offering stands out from the competition. We were early to the cloud by moving to KashFlow in 2009 and Receipt Bank is another way of adding value to our offering. It’s all about being constantly innovative where your service to clients is concerned.”

Will was also really impressed by how receptive Receipt Bank was to his feedback on their integration with KashFlow and how they worked with KashFlow to progressively develop and improve it. The integration has brought concrete benefits to Farnell Clarke’s clients:

“Our clients save significant time as they no longer have to drop their invoices and receipts off at our office. It has allowed us move much closer to providing our clients with real time accounting, as data is received and processed so much faster. This means we can act on that data and give clients timely business advice which definitely has a positive effect on our relationships with them.”

Farnell Clarke has now incorporated Receipt Bank into their client offering, adding to its value:

“Having Receipt Bank makes our client offering more cost-effective. This means it is more affordable, allowing even more businesses to take up our service and allowing us to help even more people succeed. As clients no longer have to drop their paperwork at office we can also support clients right across the UK in a way that wasn’t possible before.”

The effect of using Receipt Bank and KashFlow together, and so being able to offer a cloud solution to clients, has resulted in Farnell Clarke growing 40% year on year over the last 3 years. With a substantial proportion of clients already using Receipt Bank, Will hopes to gradually move all of Farnell Clarke’s clients onto the service:

“The key factor for us is that Receipt Bank helps to make our client offering a unique and innovative package. We can provide a service to our clients that stands out from the competition and ultimately that is what the clients who want to work smarter and succeed will go for.”
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