Datalink Technologies
How S&B Private Pty Ltd Transformed Datalink Technologies’ Accounting Operations
The challenge
Datalink Technologies is a leading provider of GPS tracking, asset management and two-way radio solutions in Australia, servicing a client base of corporate and government entities. Following the departure of their longstanding in-house accountant, the owners of the business identified signs that their finance function needed an overhaul.
Scalability Issues
Datalink’s accounting system was outdated and reliant on manual processes, resulting in an ever-increasing finance workload as the business’ revenue continued to grow.
Compliance Concerns
Ensuring compliance with Australian accounting and tax reporting requirements was an ongoing challenge, as Datalink did not have the resources internally to keep an in-house accountant up to speed with the changes in regulations and CPD.
High Costs
Recruiting a competent Australian based in-house accounting team was challenging due to lack of local talent and a substantial cost including high salaries, benefits, and continuous training expenses.
Recognising these challenges, the GM of Datalink, Marc Lelli, decided to partner with S&B Private, an Australian outsourcing company specialising in providing offshore accounting resources to Australian businesses.
Solution
S&B Private implemented a tailored end to end finance solution, focusing on assigning a dedicated and skilled offshore accountant to modernise their accounting system by transitioning from MYOB to Xero and eliminating manual processes. By utilising Xero add-ons recommended by S&B Private, Datalink was able to implement a direct debit solution for recurring revenue, improving cash flow and reducing AR workload significantly.
By partnering with an outsourcing provider backed by an Australian accounting firm, Datalink Technologies gained access to a skilled offshore accountant who cost-effectively and accurately handled transactional tasks such as accounts receivable (AR), accounts payable (AP), and general bookkeeping. Additionally, Datalink could leverage the deep tax and accounting expertise of senior accounting team members on-demand, all for a total cost significantly less than employing a single in-house accountant in Australia.
“The relationship between Datalink Technologies and S&B Private commenced in 2019 and is a true business partnership. Crucial to how we manage the business, the S&B Private team have been a driving force behind our new and improved business information tools and accounting processes.
Datalink’s ability to make timely and well-informed decisions is significantly improved as a result of our partnership with S&B Private”
Marc Lelli General Manager – Datalink Technologies
Ongoing Impact
The continuing partnership with S&B Private has empowered Datalink’s management team to navigate the ongoing challenges of running a profitable business, with the assurance that their critical finance function is in expert hands.
One of the most significant benefits has been the ability to directly communicate with an accountant from S&B who understands key supplier and customer relationships. This personalised support, combined with instant access to up-to-date financial information, has been a game changer for Datalink.
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