How automated delegation of authority boosts efficiency for Paddle Australia

Posted on February 27, 2023March 24, 2023 by Masha Komarova

case study

How automated delegation of authority boosts efficiency for Paddle Australia

28 hours saved
per month

80% reduction
of errors

2 hours saved
per week per team member

Accounting platform:
Xero

Location:
Australia

Improved compliance
with real-time audit trails

Paddle Australia, the governing body for paddle sports in Australia, is a multi-entity not-for-profit organisation. They receive funding both at a state level, as well as from the federal government, to help promote the sport as one that’s fun and enjoyable. As their business operations grew and demand for financial information increased, Paddle Australia found themselves struggling with manual approval processes and limited financial data visibility. This made it difficult for them to scale and grow efficiently.

At this point, Navigate VCFO stepped in to transform Paddle Australia’s financial operations by implementing cloud-based accounting software, Xero, and ApprovalMax’s approval automation software, reducing errors by 80% for Paddle Australia’s finance team and saving them two hours per week in the process. With this shift, their finance team was able to direct their efforts towards more strategic initiatives, driving the organisation’s growth forward.

In this case study, we explore how automated workflows and streamlined delegated financial authority matrix helped Paddle Australia take a big load off their accounts payable processes.

Streamlining manual financial processes that no longer worked

Paddle Australia had outgrown their financial approval process as their business started growing. With paper invoices piling up and multiple levels of approvals, getting the green light for payments was a slow and gruelling process. This was frustrating for the finance team and hindered their ability to make quick and informed financial decisions.

Navigate VCFO stepped in and helped them streamline their operations by implementing Xero, EzzyBills for invoice scanning, and ApprovalMax for automated approval workflows. This improved controls and financial data visibility, leading to significant time and administrative savings. Alicia MacLeod, the Finance Manager at Navigate VCFO, shared:

“We determined Xero was the best system for the team at Paddle Australia, along withapps like EzzyBills, and ApprovalMax to save time and streamline their approvals. These cloud-based solutions have delivered significant time and administrative savings.”
Alicia MacLeod, the Finance Manager at Navigate VCFO

Automating the delegation of authority process using ApprovalMax

ApprovalMax helped to align Paddle Australia’s Delegated Authority policy with custom approval workflows. Xero tracking codes were used to identify the responsible person for each program, and approvals were based on set limit thresholds. The result was a fully automated process with the relevant person signing off on the right documents, providing peace of mind for the board and auditors, given all the funding that comes from the state and federal government.

The benefits of automation for Paddle Australia

The implementation of ApprovalMax’s automated workflows brought significant benefits for Paddle Australia, including:

Streamlined financial operations: Automating the financial approval process streamlined operations and reduced manual errors, increasing efficiency.

Increased efficiency: The finance team saved an average of 2 hours per week per team member, and around 28 hours per month total, freeing up time for more strategic initiatives.

Improved visibility: ApprovalMax’s integration with Xero provided greater visibility into financial data and Paddle Australia’s approval process, enabling informed financial decisions.

Reduced manual errors: Automating the approval process reduced manual errors by 80%. Enhanced coding accuracy also allowed approvers to check the coding before it entered the profit and loss statement.

No more chasing documents: The operations and finance teams can spend more time on strategic initiatives with less time emailing decision makers asking for their approval. Financial processes were smoother as pending approvals and late approvers were visible in the system, reducing the risk of missing invoices.

Clear evidence of compliance: ApprovalMax made audits easier by providing clear approval evidence of compliance through detailed audit reports stored in Xero. Plus, executives can approve invoices on the go with the ApprovalMax mobile app, even when they’re out of the office.

“ApprovalMax helped our client improve and reduce the need for manual coding and review. The reassigning feature in ApprovalMax also gave ownership to different people in the approval process. We run over 80 P&Ls for Paddle Australia every month, and the improved operations have led to significant time and administrative savings,”

A win-win situation: successful implementation of ApprovalMax for Paddle Australia, thanks to Navigate VCFO

The partnership between Paddle Australia, Navigate VCFO, and ApprovalMax has proven to be a huge success, delivering real benefits for Paddle Australia’s finance team and the business. ApprovalMax’s automated workflows have improved Paddle Australia’s efficiency, reduced costs, and streamlined financial operations. By using ApprovalMax’s automated workflows, they were able to overcome their financial challenges and drive their business forward. The success of this partnership is a testament to the power of innovative financial management solutions and the positive impact they can have on businesses like Paddle Australia.