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Cafe Bookkeepers Identify $100k+ Revenue Increases for Clients with FUTRLI
Posted on 8th November 2015 in Customer Stories
Written by Amy Harris
Nick Hazel, Founder of Cafe Bookkeepers, explains why FUTRLI is perfectly formed to help those in hospitality focus on the sector’s unique pressures - 3minute read
Cafe Bookkeepers is a Sydney based business that focuses exclusively on Australia’s thriving hospitality trade. Its highly specialised focus means is staff are experts in dealing with the complexities and intricacies of the sector.
Founded just under five years ago by Nick Hazel, Cafe Bookkeepers has been a heavy user of cloud based accountancy software such as Xero. But their adoption of FUTRLI just over a year ago has streamlined their working processes and given them the ability to deliver the exact type of accounting service their clients require.
“Nobody in hospitality wants to use or look at monthly reports,” says Nick. “The pressures of the industry mean weekly, even daily reports are essential. Before we got switched on to FUTRLI, we would invest serious amounts of time into painstakingly creating bespoke weekly reports. It wasn’t efficient, inspiring or scalable.
“In hospitality a few bad days can take months to make up for. To give our clients the weekly or more frequent reports they needed we had to manually create them. Far too much of our time was spent on these kind of compliance tasks and not on proactive tasks that could help a client plan and improve.”
Cafe Bookkeepers can instantly call up three way P&L, balance sheet and cashflow forecasting scenarios. Meaning all a company’s financial data is just now a few clicks away, rather than at the end of a long hard spreadsheet session.
“My clients work hard enough, it is my job to get their systems working hard for them. It’s ironic to me that the thing they value the most, takes the least time to prepare from our perspective. Caterers are highly creative and visual people, they didn’t get into this business to fiddle with numbers,” says Nick. “Nobody ever opened a cafe or restaurant and dreamt of filing tax returns,” says Nick.
“By using FUTRLI, we are able to make sure they spend every possible second they can on the business, rather than sat at a desk filing figures and fractions. Furthermore, the graphs and charts FUTRLI generates from the data, really helps tell a story that business owners understand. It brings real clarity to the numbers.”
FUTRLI has had a clear, measurable impact on Nick’s clients. Helping them solve cashflow problems and secure their future.
“We had one client who had always been a top performer for years but was starting to have cashflow troubles for the first time,” explains Nick. “FUTRLI allowed us to quickly access and compare all his historical data at just the click of a button. We used this to analyse past sales and costs and then quickly created multiple visual scenarios of how our client could turn his fortunes around.”
Nick and his team recommended that a small increase on certain products, such as fifty cent on a coffee, would bring in $100,000 extra a year.
“At first the client was a bit reluctant,” admits Nick. “But when he saw the projections and data presented with complete clarity in FUTRLI, he understood why it was a good decision. Sure enough, he made the call immediately and, as predicted, the cashflow problem was solved.
But Cafe Bookkeepers don’t just preach the good word about FUTRLI, they are also loyal users themselves.
“Checking FUTRLI is something I’ve built into my daily routine,” says Nick. “Each morning I take a look at our own Boards to see what are liabilities are, what we have incoming and outgoing.
“It’s a great way for us to track our progress and, of course, generate new ideas for our own business as well as those we serve. It moves us away from talking about time and savings and helps us to deliver more value to our clients and get more value for our own business too.”