How Ogrifox is Revolutionising Accounting in B2B Commerce
About Ogrifox
Established in 2015, Ogrifox is a subscription-based B2B shopping platform for personal protective equipment (PPE) and health and safety products. With a strong presence both in the UK and EU, the company specialises in running a retailer program for the wholesale and resale of safety equipment — including safety gloves, shoes, and more. In response to Brexit, Ogrifox expanded its physical presence in the UK, opening a new office and warehouse to efficiently meet rising demand.
Martina Tararuj, the Managing Director of Ogrifox, is at the helm of the company's operations. Her responsibilities revolve around ensuring everything runs smoothly across all aspects of the business — including finance and accounting. We engaged in a conversation with her to find out how Dext has helped Ogrifox in this business accounting automation process.
The Challenge
As Ogrifox underwent significant changes, it became apparent that a broader scope of professional expertise was needed to navigate their growth. Martina described the transitional phase: “At the time, we had a freelance accountant on board, but we realised we needed a more comprehensive solution — a dedicated company. We were in search of a firm that could offer both finance and legal advice”.
The search led them to Accounts and Legal, a firm based in London. "I found them via an internet search and then Sylvia Kotarba, the managing director, called me back straight away. I believe that you meet people for a reason," Martina shared.
One of the key challenges for them was to create a system that would automatically handle all their accounting needs. Ogrifox needed a system that could handle all their expense-related requirements, especially those pertinent to their e-commerce operations. "We were setting up our online store and we wanted to have an automatic software that would automatically feed Xero with all our receipts, invoices and statements" Martina shared.
Moreover, another challenge that Ogrifox faced was managing transactions in multiple currencies — pound, euro and dollar — which often led to complexities.
The Solution
Accounts and Legal not only provided the accounting and legal services they needed but also introduced them to Dext, an add-on to their existing accounting software, Xero. This introduction was transformative for Martina, who had always dreaded dealing with paperwork.
“We aspired to automate as many tasks as possible, and Dext perfectly fulfils this requirement."
Martina's initial interaction was one of surprise and intrigue. "At first, I couldn't believe the ease and efficiency of Dext. It made me question how it was even possible to extract all the information from a piece of paper so quickly." Her previous experience with startups and various technology platforms had given her a seasoned perspective, making the impact of our tool even more impressive.
Setting up the system was surprisingly straightforward. Their accountant initially helped her integrate Dext with Xero, then Martina and the rest of the team quickly got the hang of it. "I think the accountant did the first batch in Dext for me, but then I just logged in and started to play with it myself. It's very user-friendly."
Dext effectively handled the extraction of numbers and data across the currencies Ogrifox trades in, mitigating previous complications. For her, it was one more box ticked. "Dext manages data extraction across different currencies so flawlessly. We haven’t faced any issues since its implementation," Martina noted.
The Impact
This new accounting setup had a profound effect on Ogrifox's business operations. Because complex financial tasks are now delegated to trustworthy professionals and software, Martina has extra time to focus on other aspects of the business — which is crucial, given the demands of her role.
"With the aid of Dext and timely reminders from our accounting firm, I find it easier to maintain our financial responsibilities without delay."
“The regular meetings with Accounts and Legal are vital for me. I'm not a finance expert, my strengths lie elsewhere. Hence, I need assistance in choosing the best automated tools, as well as overseeing and predicting financial trends, which directly impact my sales operations and decision-making process." Due to how Dext organises relevant data, predicting financial trends within the business became a breeze.
Martina further acknowledged the importance of this shift in not only ensuring efficiency and peace of mind but also saving time, especially when compared to other arrangements she’s tried in the past. "Without Dext, even handling a few invoices a month before was quite challenging," she explained. “Not anymore!”
Ogrifox now stands as an example of modernisation in its sector. Martina envisions a digital transformation for the company, incorporating e-commerce and subscription services to stimulate growth. The digital accounting setup plays a pivotal role in this plan. Martina shared her aspirations: "I don’t like to project too far into the future, but if I were to envision a future for Ogrifox, I see it as a leading portal for health and safety products and services."
The transformation that Ogrifox has undergone is a testament to the potential that Dext's innovative bookkeeping automation can offer. Their success story embodies the possibilities that lie ahead for businesses that embrace automation, especially in the realm of finance and accounting. In Martina’s words: "Dext has changed my life. It's super easy!"
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