Intelligent Fin.tech Issue 31 | Page 41

I N D U S T R Y O U T L O O K

I N D U S T R Y O U T L O O K

Challenges
• Fragmented systems: Staff managed up to four timesheets across three separate practice management systems, leading to inefficiencies and requiring up to five additional days per month for reconciliation and interentity billing. With data spread across multiple systems, there was no single source of truth, making it manual and time-consuming to aggregate information for reporting.
• Manual, time-consuming processes: Invoicing was a labourintensive process that took a full day each month to complete. Staff had to manually prepare invoices, print them, and either mail or email them to clients. The lack of automation not only made the process time-intensive but also increased the likelihood of errors, causing delays and inaccuracies in billing and cash flow.
• Scalability and modernisation pressure: Outdated systems restricted the firm’ s ability to scale efficiently, particularly as it took on larger, more complex clients and expanded to new offices, including an international location in Jakarta. The disconnected systems and lack of modern cloud technology also impacted employee satisfaction, creating challenges in attracting and retaining top talent while maintaining high standards of client service.
• Inconsistent data: Financial and operational data were inconsistent across platforms, requiring significant time to validate and reconcile, which hindered leadership’ s ability to accurately assess the business’ s performance and make decisions.
The solution
Wiise has transformed Bentleys Tasmania’ s operations. Allardice and the team now have:
• A centralised system: Wiise replaced the fragmented practice management systems with a single, integrated platform that could be used for multiple offices. This eliminated the need for multiple timesheets and manual data reconciliation, saving up to five extra days of admin work per month.
• Automation of manual processes: Previously labour-intensive tasks like invoicing were transformed through automation. What used to take an entire day each month now takes just 30 minutes, reducing errors and freeing staff to focus on more strategic work. Automated reminders for unpaid invoices also reduced follow-up efforts and improved cash flow.
• Improved accuracy and decisionmaking: With all financial and operational data consolidated into Wiise, the firm eliminated inconsistencies and delays in reporting. Real-time access to accurate data restored leadership’ s confidence in decision-making and enabled more timely and informed business strategies.
• Scalability and growth enablement: Wiise supported the complexity of servicing larger clients and expanding operations, including their new international office in Jakarta. In addition, adoption of cutting-edge technology reinforced the firm’ s reputation as an industry innovator, helping attract top talent and deliver superior client service.
The payoff
Significant time savings & efficiency gains
Wiise automated invoicing, reducing time from a full day to 30 minutes, and consolidated timesheets from four to one, www. intelligentfin. tech
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