How an advisory firm helped their client save $40k with ApprovalMax

Posted on March 23, 2023March 24, 2023 by Masha Komarova

case study

How an advisory firm helped their client save $40k with ApprovalMax

50% increase
in approval efficiency

Estimated
AUD 40K ROI

1 FTE
in time saved

Accounting platform:
Xero

Improved transparency
across the business

6
decision-makers

Tinka Consulting is a team of financial experts based in the city of Brisbane. They offer bookkeeping, accounting, business reporting and advisory services to clients all over Australia. One of their clients, NOUS, is a creative agency that specialises in branding and delivering creative services such as digital campaigns and website design.

With a multi-layered approval process and a steadily growing business, NOUS struggled to keep up with their manual finance processes, causing delays and inefficiencies for both approvers and their admin team.

How NOUS overcame their approval challenges, with guidance from Tinka Consulting

With over 20 staff and a multi-layered approval process that involved up to four steps, NOUS struggled to keep up with the old manual approval process they had used for years. Their AP process involved several different stakeholders who all had to review and approve documents and files before they could be finalised and implemented. With files being sent back and forth via email and approvers having to sift through multiple versions to keep track of changes, this process couldn’t get any more manual and time intensive.

To understand NOUS’ problem, it’s helpful to understand the full extent of their approval process.

The company’s administrative staff had to manually open and check each folder and all the PDFs.
Some folders had up to 80 files, taking up much time.
It was the admin team’s job to ensure that all documents had been signed and approved.
After this was done, it could then move to the next step, to make the payment.

Overall, this was a time-consuming and error-prone process. The inefficiencies and delays left decision-makers and admin staff confused and frustrated.

Recognising the need for a more efficient and streamlined approach, NOUS turned to Tinka Consulting and asked them to help them find a tech solution to solve all these problems.

Leveraging automation to drive cost savings and ROI

Tinka Consulting didn’t hesitate to recommend ApprovalMax to NOUS, and for good reason. With ApprovalMax, NOUS automated their approval process and freed their administrative staff’s time from managing approvals and chasing decision-makers. By transferring their detailed approval rules to the new system, NOUS maintained the same level of control and oversight, while notifications made it easier for approvers to keep track of their work. As a result, the company saved the equivalent of one full-time employee (FTE) in time and generated an impressive estimated ROI of $40,000. With ApprovalMax, NOUS streamlined their approval process, allowing staff to focus on more valuable operational tasks that contribute to business growth.

Streamlining Approvals: The ApprovalMax Impact

By working with Tinka Consulting and implementing ApprovalMax, NOUS was able to improve the efficiency and transparency of their approval process, resulting in significant cost savings and a positive return on investment. Automating their approval process allowed NOUS to focus on their core business operations, leading to a more streamlined and productive workflow.