TaxAssist Accountants Holborn Helps Client Reconcile £250k and Improve Debtor Days by 20% with Satago

TaxAssist Accountants are one of the UK’s foremost accountancy networks. They work with a huge range of different clients, including start-ups, sole traders, partnerships, limited companies, landlords, contractors, freelancers and individual taxpayers. With such a broad spectrum of clients based in different industries and the continuing rollout of Making Tax Digital; efficient solutions focused on speed are paramount for TaxAssist in enhancing their client service. 

In this case, TaxAssist Accountants Holborn had a client who tasked them with managing their Accounts Receivables back in July 2022. With over £450k of debt outstanding, and only 60% of customers paying the client within 30 days, there was a lot of work to be done. Luckily, TaxAssist knew just where to turn.   

TaxAssist Accountants Holborn was already using Satago’s Accounting package to manage their own debtor book, so it was a no-brainer to recommend the solution to the client, as a possible means of reducing debtor days, and reconciling more of the outstanding debts.   

The client used QuickBooks for their accounting software, who featured as one of the 300 software packages Satago already supported integrations with, which allowed TaxAssist Accountants Holborn to connect their client, and set up his first automated payment reminders – emailed to all the client’s current debtors – very quickly and easily.  

 “Satago has been a great tool to keep on top of our debtors, linking well with QuickBooks and xero. The software is easy to use and extremely customisable to meet our needs. The Satago team are extremely helpful and quick to respond.” 

Customer Review from TaxAssist Holborn

Less than 9 months later, the client’s Accounts Receivable function is unrecognisable. TaxAssist Accountants Holborn continued to use Satago to build out a more comprehensive sending schedule of customised emails to manage debtors on behalf of their client. One email reminder became a 3-email sequence that ran over a 45-day period. Before reminders are sent, TaxAssist Accountants Holborn updates the debtor list within QuickBooks, so the automation works smoothly and contacts those who need to pay the client promptly.   

Today, the client’s outstanding debt now stands at approximately £200k, a £250,000 reduction. On top of that, the client’s debtor days have improved markedly. 80% of debtors now pay the client within the 30 days of an invoice being issued, meaning the cashflow management process is not simply experiencing a standalone improvement, but a noticeable shift in customer behaviour around on-time payments.    

TaxAssist Accountants Holborn work with many clients just like this, and so finding scalable and effective solutions that integrate easily and have a proven track record of results are exactly what they need to upgrade their service, without sacrificing significant time, money and resources.  

If you’re interested in learning more about Satago’s Accountants package, register your interest here and one of our team will be in touch.