In this month’s Fintech Friday we speak to Dean Fieldhouse and Christopher Berrisford on how their move to digital recordkeeping has supported them in making their ambitious growth plans a reality. Dean and Chris run Hiya Technology Limited (Hiya Tech), an IT and digital recruitment agency based in Manchester. Their clients include a diverse range of organisations from start-ups to FTSE 100 companies.
Dean and Chris started the company back in 2010 in a tiny office with breeze block walls in one of Manchester’s less desirable industrial estates. This environment gave them ample motivation to build the agency and find a way into more pleasant accommodation! After a decade in Manchester city centre they moved to Ashton Old Baths in East Manchester, a former Victorian public bath house that has been reinvented for companies in the tech and digital sector.
Happy in their new home and following a major rebrand, they began to think about what was next for the business as they looked to grow both staff and revenue. But fast paced growth has implications on the systems (or lack thereof) at the core of the business, and Dean and Chris reached a pivotal point where they needed to find a system and an accountant that would help them to achieve their ambitious plans for the future of Hiya Tech.
Time for a change
Talking of their previous accountant, Dean says “The way we were working with our previous accountant was to VAT deadlines. It was very much a compliance-led relationship. We provided quarterly banking data with which they would prepare a VAT return. We desperately needed up-to-date records and wanted to start making use of forecasting, so we started looking for an advisor that was a bit more tech savvy. That’s when we met James Turner at Harold Sharp”.
Moving to digital
On discussing their requirements, it was clear that the priorities for Dean and Chris were better visibility over their finances so that they could use real-time data to drive commercial decisions with a view, ultimately, to scalable growth. The first thing our team did for Chris and Dean was to move them away from their excel spreadsheet and over to Xero and Dext – this is a combination we knew would work well for them, providing the up-to-date info they required in a digital, user-friendly way. We also delivered training to provide them with the skills necessary to make the most of Xero’s reporting and invoicing functions.
“James showed us how to access up-to-date reports in Xero to give us a clear understanding of our performance, on a weekly basis. The move from our old accountant to Harold Sharp has been like night and day with regards to visibility of our income and expenditure. Suddenly we feel like we’re really in the driver’s seat and that’s made a huge difference in terms of goal setting”, says Dean.
“Using Xero helps us keep our records up to date”, adds Chris. “We catch-up with James on completion of the bookkeeping to run through any queries as well as on completion of the VAT returns. Our regular catch-ups mean that we have loads of opportunity to discuss what Xero can offer us. We’re excited to progress develop our use of Xero even further, to reap the benefits of all that the software offers”.
How can we help?
Would your business benefit from better insights and more regular catch-ups with your advisor? Speak to our digital team about our offering: email@example.com or 0161 905 1616.
About Hiya Tech
Hiya Tech are a professional, straight-talking IT and digital recruitment agency based in East Manchester. They provide a high-quality, personal service to both candidates and clients. Over the years they’ve built a strong reputation founded on their unparalleled industry knowledge and an ability to understand and fill the most specialised technical positions. To find out more, visit: www.hiya.technology