RSM Australia Reduced Processing Times by 50%: Here’s How
About RSM Australia
RSM Australia is a leading assurance, tax and consulting service provider to middle-market businesses and has been around for over a century. Headquartered in Perth, it has 30 offices across the country — embedded in both capital cities and regional communities. RSM Australia is a member of RSM, the world’s sixth-largest network of audit, tax and consulting firms.
Sophie Sheng is a supervisor in the strategic outsourcing division. After graduating from Sydney University’s Master of Commerce programme in 2014, she started her career at a marketing company doing bookkeeping and reporting. After testing out a few companies and roles, she eventually joined RSM a year and a half after her schooling ended. Now, she looks after a range of clients, from multinational groups to national SMEs across industries, playing a significant role in providing them with top-notch financial services.
We caught up with Sophie to hear about her experience with cloud-based software and how she successfully delivers streamlined accounting solutions to each of her partners.
The Opportunity
Sophie and the team at RSM struggled with complex, all-consuming processes that left little time to focus on proactively improving their client’s processing and providing them with key insights and guidance.
Sophie generally received invoices via email and manually processed them into accounting software, which took a long time and caused a high risk of data entry mistakes and missing bills or vital documentation.
“It took much longer to review and approve the processing of payments,” she said.
A cloud-based solution that aligned with RSM’s goals was crucial, and Sophie knew this technology integration should work for both her team and the clients.
The Solution
Sophie was first introduced to Dext Prepare (former Receipt Bank) when she started in an outsourcing role. In her previous jobs, she had done everything without the help of tools like Dext to make her time more effective.
“The process was very time-consuming”, she remembers.
Everything changed with Dext. After a smooth setup and easy implementation process, Sophie and her team were able to start improving processing efficiencies right away — both for the organisation and its clients.
This was Sophie’s first time searching for and deciding on accounting software to help in her role and make her impact on clients’ finances stronger. Her first impression was great, making her wonder how she’d ever done this job without Dext to back her up.
“Dext is great for gathering your sales, purchases and bank transactions in one place. It reads, remembers and processes information, which has been a great help for our team.”
The Impact
Since implementing Dext Prepare, Sophie has been able to track purchases, manage bookkeeping and process documents with lightning speed. What used to take tons of manual effort to process bills for RSM’s clients was made much easier after integrating this solution into the company’s tech stack.
Gone are the days when errors and mistakes were hard to avoid. Now, RSM’s clients can receive accurate accounting information with little to no work on their end, a solution that makes Dext Prepare a win-win solution for everyone involved.
“Our clients love it too”, said Sophie. “It greatly increases their efficiency and saves them from having to forward thousands of emails just for processing accounts payable. It’s a win-win situation.”
Ultimately, Dext Prepare significantly increased RSM Australia’s efficiency, reducing the time spent on the day-to-day maintenance of accounts. This enables the team to add valuable services for their clients and improve the accuracy of each and every stored document.
Accuracy and reliability are other benefits Sophie and her team benefit from. Dext Prepare boasts an ability to collect and extract paperwork with 99% accuracy for easier compliance, better reporting and increased performance.
“I can’t imagine what my life would look like without cloud-based software. With Dext Prepare, we’ve saved at least 50% of the time originally spent processing documents and reviewing data.”
Moving Forward
With RSM Australia consistently welcoming new business, a dedicated, cloud-based solution like Dext Prepare will keep processing easy and smooth for years to come. The platform is scalable, making it the perfect offering to grow alongside Sophie and her team.
Are you looking for an accounting solution that can improve your company’s processing and bookkeeping capabilities? Check out Dext Prepare and see why the RSM team swears by it.
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