“Through Spotlight Forecasting, we were able to complete a three-year forecast and build this into our client’s business plan. The bank approved it straight away and granted our client with a loan of £1.5m”.
The world of accounting is evolving. An integral part of this evolution is cloud solutions and the changing relationships between Accountants and their clients. This dynamic world requires accountants and businesses to be future focused. The below story from Nicklin LLP is about how they meet this requirement through their years of experience and knowledge and offering their clients a future focused, data driven experience with Spotlight Forecasting.
Meeting the client's needs
We have a hotel client who was historically on SAGE. We moved this client onto Xero and Spotlight six months ago. The relationship completely changed the minute we introduced them to the cloud and in particular Spotlight Forecasting. Spotlight Forecasting enabled us to work together in a way we haven't been able to before.
Through engaging the client with Spotlight Forecasting, each month we had a meeting to look at key financial data and discuss this with the client. They started understanding the stories and pictures of their business through the graphs and charts in the report. This also enabled them to clearly see the opportunities for growth.
Our client became hungry for more information. This allowed us to provide them management reports using Spotlight Reporting and build into these reports non-financial information around room occupancy, seasonal trends, and Google Analytics. Suddenly, our client had a 360-degree view of their business in a way that they’ve never had before. It has made them eager to improve and grow their business and now we can work with them to offer solutions in ways that help achieve their targets.
Forecasting and funding
Earlier in the summer of 2017, the same client was looking for extra funding and there was a requirement for a quick approval. Through Spotlight Forecasting, we were able to complete a three-year forecast and build this into our client’s business plan. The bank approved it straight away and granted our client with a loan of £1.5m.
We achieved the same result through forecasting and building a business plan in Spotlight for one of our farming clients. This enabled him to grow his farm machinery rental business.
The whole process of creating forecasts and business plans in Spotlight is seamless and quick. This generates the positive growth for our clients to take their business forward, which is why we do what we do.
The next 85 years and beyond
Nicklin LLP has always been more than your standard compliance accountant. We pride ourselves on getting to the heart of our clients business and supporting them through offering business advisory services.
With the launch of Nicklin Cloud and through working with Spotlight Forecasting, we are able to take this to another level and work with a new breed of entrepreneurial clients. Our focus is totally on the future and building success both for Nicklin Cloud and our clients.