How Shift Capital use Dext to see the entire financial picture

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In this case study, you’ll see how shift Capital use franchise accounting in Dext to dramatically decrease workloads and see the entire financial picture of their business.

About the business

As front runners in South Africa’s commercial property market, Shift Capital is a company used to taking on new projects and added financial responsibility. In this instance, Shift Construction, a branch within the company, needed a simple fix – something that allowed them to grow at the same pace while integrating with their primary accounting software, Sage. 

Working closely with rural communities throughout South Africa and Eswatini, Shift Capital also required software that accommodated their growing portfolio with easy access to all their accounts. 

Tasked with implementing this is Yestin Naidoo – Head of Finance at Shift Capital. Was the plan to always go with the Dext Multi Account Dashboard? Not quite. But after a successful trial period, what appeared a short-term fix proved to be a long-term solution. 

Opportunity

So why Dext, and, more specifically, why The Multi Account Dashboard? It all happened after a member of the Shift Construction financial team left their role. With a gap to fill, the team decided to trial Dext as a temporary replacement. They wanted to see whether an automated digital system was better placed to deal with their expanding workload.

Since then, Yestin and the team have continued to utilise the platform’s accurate data extraction and easy-to-use layout. More importantly, all their accounts are now accessible and visible in one dashboard.

As Yestin explains: “It’s very user-friendly and simple to use. It also limits our manual work and the time we’d spend capturing stuff ourselves which is a big bonus.” 

Solution 

The clue is very much in the name with The Multi Account Dashboard. It is designed for those who have to manage a number of accounts – whether that’s in the form of multiple businesses, accounts or, in Shift Capital’s case, entities within a company. 

As well as what’s usually included with Dext Prepare – like data extraction, expense management and integration – the standout features of this platform are its accessibility via one login, the comprehensive view of all accounts and the ability to switch between those instantly.

This was a major pull for Shift Capital as it went beyond what they were initially looking for. Now, they have a customised dashboard that displays all their financial projects, allowing them to assess the performance of each one. 

Results 

Aside from the time saved on extracting line items, the platform has streamlined Shift Capital’s workflow. “It has helped us to work more efficiently and has cut out time spent on manual processes because previously you’d have to physically capture the invoice on Sage. Now, 95% of that information is populated for you. The workload has decreased significantly.” says Yestin. 

The team have also benefited from the platform’s simplicity and the fact that it stores historical financial data. As Yestin explains: “Because everything is archived in The Multi Account Dashboard, you’ve got one central point to go and search for all the information you need. It eliminates a lot of the filing and admin tasks we had become so used to.”

 

“Because everything is archived in The Multi Account Dashboard, you’ve got one central point to go and search for all the information you need.”

Yestin Naidoo
Head of Finance at Shift Capital

The same can be said for the integration process. First and foremost, Shift Construction needed an accompanying software that worked effectively with their primary software, Sage. Fortunately, the integration process was incredibly simple and completed in a matter of minutes. Yestin adds: “It’s been quite seamless and in terms of publishing that information, it’s been very accurate.” 

Impact 

While Shift Capital’s use of the Dext Multi Account Dashboard is still in its early stages, Yestin and the team have already started to see a significant impact on their workload. They are now more efficient in the way they work and have found a platform that fully complements their use of Sage. 

With less time spent on manual processes, the team can now refocus their attention on wider business goals – most notably, adding value to the communities they work in. Temporary fix or long-term software partner, at Dext, we’re pleased to play a small part in making that happen. 

The Dext Multi Account Dashboard provides complete visibility of all your businesses, accounts and entities via one login. You can manage everything from a single dashboard, while effortlessly switching between those accounts.

Click below to get a free consultation from one of our team and find out more.