“We were a brand-new company when we joined Clearcrest, with no accounting or payroll systems in place at all. Two years later we're a profitable business that's never missed a deadline, and I know I'm only ever a phone call away from an answer.”Anish Miah, Director, Nexus Biolink
Where they were
Nexus Biolink joined us as a brand-new manufacturing company with nothing in place: no accounting system, no payroll, no pension scheme.
What we did
We built their accounting and bookkeeping processes from scratch, set up payroll and pension software to handle a workforce with high staff turnover, and built a bookkeeping system to keep pace with a high volume of transactions, including reconciling supplier statements and keeping on top of customer debt and statements. When the business took on outside investment, we handled the accounting treatment and share issue that came with it.
Where they are now
In the space of two years, Nexus Biolink has gone from a standing start to a profitable business, without ever missing a deadline. We have always acted as business advisors to the business as well as just accountants. We recently prepared a comprehensive management report analysing revenue and profitability at both a firmwide and client level, along with stock levels, staff costs, and cash flow, giving him a complete, board level view of the business, not just the numbers HMRC needs.
Industry insights
Manufacturing businesses live and die by their systems: high staff turnover, high transaction volumes, and suppliers and customers to keep on top of every single week. That's exactly what we built for Nexus Biolink: payroll and pension systems that can handle a changing workforce, a bookkeeping system built for volume, and reliable supplier and debtor tracking. This is the kind of infrastructure a growing manufacturer needs to stay in control as it scales. It's also very easy for owners of businesses like these to get caught up in the day to day. That's why our team set up regular catch ups to step back and look at the higher level direction and financial management of the business, something that can easily get overlooked when an owner is buried in operations.