Are you a Finance Professional in a Charity? Digital transformation is an increasingly-used term across all sectors. It sounds exciting, contemporary and full of promise in its ability to bring…
Logiq chose Xledger as a system that would grow with them.
About the company
Logiq is a leading, clear and ambitious player in digital integration and information logistics in the Nordic region with steady growth from start-up until today. In 2016 turnover was circa £84 million.
What is the result?
From 2009 to today, we have doubled the turnover and the number of employees, without hiring more on finance and accounting. We would not have had if we had a traditional financial system. So that’s a big improvement.
Before we had 3 different systems, the fact that we now have everything in one system makes it extremely effective. Reporting on 3 three things for example. takes as long as running a salary of 50. It is very effective.
In 2010, we went from Visma Rubicon to Xledger. It was important for us to manage to keep resource utilisation down. With Xledger we get more current information.
The management and the board are very pleased with the system because you always have fresh data. We get more custom reports now and we get them more frequently. In this way, we get greater security in decision making – because we can count on the latest updated figures.
What was the challenge?
Before we moved to Xledger we were much smaller. All of the processes were slower and we only had periodic information available. Only the finance and accounting staff who put this information on used it, whereas now it is now a tool several people in the company benefit from.
What was the solution?
Logiq is cloud-based with electronic commercial documents, invoice, order confirmation, package leaflets and item information. Most of Logiq’s employees are Xledger users in terms of timesheets and expenses.
The tool has been very nice for analysis to see what people are spending time on.
As the working chairman I appreciate how the system can give an overview of the company’s numbers. We get more up to date information. The work processes flow more efficiently than they previously did – automated processes go on in the background like bank reconciliation.