“Using GoCardless has saved us £5,000 in time costs and £50,000 in reduced receivables every month”
Simon Kallu, Managing Partner, GrowFactor
Find out more about Growfactor
GrowFactor (previously SRK Accounting) is an award winning digital chartered accountancy practice. It specialises in providing strategic growth advice to small business owners so that clients can achieve success on their own terms.
GrowFactor aims to take a fresh and modern approach to accounting, using powerful and efficient cloud based tools to provide real time information for small businesses.
Managing partner Simon Kallu discovered GoCardless via the partnership with popular cloud-based accounting software Xero, where he said it ‘seemed like the obvious choice’.
Before adopting GoCardless, GrowFactor was facing a number of challenges, including time wasted on dealing with manual administration and chasing up late payments from clients.
What’s more, GrowFactor was using standing orders to collect client payments, which couldn’t easily be integrated into the cloud-based accounting workflow. GoCardless changed the game, helping GrowFactor to solve this issue.
The process of getting set up to use the GoCardless for Xero integration was simple and easy, not just for GrowFactor, but also for its clients.
Getting started was quick and simple with the pre-built integration, while GoCardless for Xero also offered GrowFactor automatic reconciliation alongside the ability for customers to sign up online in minutes from any device.
According to Simon, not only is the business profiting from using GoCardless but so are its clients. “Our clients love GoCardless as it saves them more time and gives them more transparency,” he said.
The team at GrowFactor have ambitious plans for growing the business on a national scale in the coming years. They believe the future of accounting is advisory.
With this in mind, they aim to create ‘raving fans’ by providing business owners with the clarity and valuable advice to take their businesses to the next level.