A rapid return on investment is most welcome in the eyes of any accountant. For Hugh Strickland & Company, its use of CaseWare Working Papers – and in particular, the Consolidation Template feature – meant a practically instant return when preparing Annual Financial Statements for its customers.
With a headcount of 16 people, partner Hugh Strickland confirms that the organisation enjoys a substantial volume of work from customers seeking accounting, auditing, taxation and company secretarial services. “Having used CaseWare since 1999 – and having tried competitors offerings over the course of time – there is no question of the value it adds in preparing financials. Anything else just looks amateur in comparison,” says Strickland.
He says his firm was previously using spreadsheet and word processing programmes to support the process of consolidating financials. “The trouble with this approach is that it is time consuming, while adjustments would have to be carried through manually. That meant a potential for errors in transcription.”
Having long enjoyed the benefits of automation provided by CaseWare Working Papers, he says the introduction of the Consolidation Template was an obvious solution to improve performance.
Strickland says an immediate improvement was noticed. “The time saved is remarkable and with automatic updates of adjustments, errors are all but eliminated. Since the software is easy to use, getting it into production presented no challenges,” he explains.
That’s not all. With the Consolidation Template forming an integral component of CaseWare Working Papers, the Annual Financial Statements are always professionally presented, to the extent that the company’s audit staff no longer require the services of a typist. The reduced headcount lowers costs to Hugh Strickland & Company clients, making the business more competitive.
But what about return on investment? Says Strickland: “I reckon the cost of the Consolidation Template was more than recovered on the very first client we used it on.”
The preparation of consolidated financials was hampered by laborious manual processes and a dependency on error-prone spreadsheet and word processor programmes.
CaseWare Working Papers’ Consolidation Template was introduced, allowing for rapid and accurate preparation of consolidated financial statements.
With the CaseWare solution to guide the preparation of consolidated financials, Hugh Strickland & Company saves time and money, improves accuracy and delivers professional financial reports.
“I reckon the cost of the Consolidation Template was more than recovered on the very first client we used it on.”