We work closely with Spitfire Audio’s Finance team, continually improving the automation of their accounting systems. Ultimately this allows the Finance team to keep up with the reporting requirements created by the company’s phenomenal growth, and enables smarter decision making across the business.
The Finance team behind Spitfire Audio, a virtual instrument company based in London who sell digital products worldwide, laid out their problems to us and said, “We need you to sort these for us!”... so we did:
Below are some examples of the specific problems experienced by Spitfire Audio’s Finance team and the steps we have taken to make things easier for them.
There are too many sales transactions to handle manually. Since Switchplane started working with Spitfire Audio in 2013, they have grown considerably from a startup through to an established brand with over a million customers worldwide.
We automated Spitfire's sales ledger:
Spitfire Audio is selling more in the US and worldwide, and is required to file VAT returns with overseas authorities. Spitfire Audio needs to know the applicable VAT rates, exchange rates at time of purchase, and place of supply.
Capture the applicable VAT rate and exchange rate at the time of purchase:
The Marketing team wanted the ability to sell gift cards, requiring the Finance team to track the relevant liabilities on the balance sheet.
Update the cart to allow customers to buy gift cards, and update the sales ledger system to track voucher purchases, redemptions, and usages:
Switchplane has a unique combination of financial accounting knowledge coupled with software engineering capability.
Get in touch to discuss how we can eliminate manual data entry tasks, produce more accurate reporting, and free up time to spend on strategic matters - or for more on finance, sign up to our finance newsletter.
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