Retail Sales

Under a purchased licence, the company operates 5 retail outlets located exclusively in shopping centres. They represent a multinational, well-known clothing brand with outlets worldwide. The company has up to 50 employees and turnover of over €2 million. Sales are conducted on a commission basis with thousands of invoices issued for goods purchases annually. Retail payments made in cash or by payment card, resulting in numerous transactions on the bank account.

The company has its own accounts clerk and payroll clerk working with the managing director, who also handles personnel management. Reports and financing are handled by the managing director with insufficient communication with the finance department. There are noted periods of understaffing and absence of responsible persons. Manual entry and recording of all received invoices and bank transactions, as well as daily till reconciliations (ERP).

Comprehensive accounting together with payroll processing is fully outsourced. Payslips are generated directly to employees' email addresses. Quarterly reports and preliminary results are generated and provided to company management. Received invoices are processed electronically using bespoke software without human intervention, as are bank statements, which are imported electronically. Data from the ERP system are imported by software directly into the accounting programme. Approximately 15,000 operations that would otherwise need to be entered manually are saved annually. Company management has access to a portal where they can view all accounting data online, as well as scans of important documents as part of document management.

2 employee positions saved, Document management, Approximately 15,000 operations saved annually that would otherwise need to be entered manually