Empowering advisory growth: Synergee's Sat Nav for Business enhancing advisory services

As accounting tech evolves, businesses and firms are diversifying their tools to ensure they can meet their clients’ needs - from utilising the power of AI to identifying the best way to report on ESG (hello, Spotlight Sustain). Competition for innovation is fierce, and there are UK-based firms leading the way.

Synergee, based in Tunbridge Wells, Kent, has been instilling financial confidence in their clients for years, driven by their mission to empower businesses of all sizes and industries. Synergee is a firm of experienced chartered accountants and business advisers who are always looking to ensure their customers' needs are met, whatever the challenge. The firm’s mission is to provide clarity through accounting, with relevant, reliable, timely information that leads to better business decisions.

With Directors Darren Austin FCA and Matt Allen FCA at the helm, Synergee has been helping their clients become successful since 2007. In addition to its core consulting services, Synergee has more recently developed its Sat Nav For Business service to consolidate its consulting offering and systematically deliver business growth advice.

Implementing Spotlight Reporting into Synergee’s offerings

Darren describes rolling out Spotlight Reporting to Synergee as a strategic move, initially adopted at the managerial and director levels. To ensure a smooth implementation and assist colleagues, Synergee appointed an app champion. This individual has taken the lead in navigating the software and providing support to the rest of the team, facilitating a seamless integration into more workflows.

Real-world impact: Client success stories

One of Synergee’s clients has benefited greatly from Spotlight Reporting. By determining which KPIs to track, the company leaders could see how small changes in certain activities led to significant outcomes, such as increasing the percentage utilisation of available hours. With action points set to meet strategic goals, they could track their progress in a comprehensive report that highlights the financial uplift from making considered changes.

For another client, Synergee used Spotlight Reporting to model the consequences of losing two large clients. This scenario planning acted as a basis for discussions on remedial actions, allowing them to proactively address potential challenges.

Spotlight Reporting has also proved invaluable for clients using various accounting software such as SAGE, QuickBooks and Xero. For instance, they assisted a client in forecasting for a sale and leaseback option for a digital press.

Making use of Spotlight Reporting’s forecasting tool

Another excellent example of Spotlight Reporting in action is with the forecasting tool. A few of Synergee’s clients were struggling to complete fundraising under tight time pressure. Whether it was securing bank funding or exploring other financial options, having accurate and comprehensive forecasts was essential for this process. 

Spotlight Reporting has streamlined forecasting for Synergee’s clients, enabling the firm to pull together financial and non-financial information into one easily digestible report. These reports, which include both numeric and graphical data, have been invaluable in presenting a clear picture to potential funders. 

Moreover, the ability to consolidate financial data with strategic actions in a single report has significantly improved decision-making processes throughout the fundraising journey. The Spotlight integration not only saves time but ensures that relevant information is considered when making critical business decisions.

Driving growth and adding value with Spotlight Reporting

The implementation of Spotlight Reporting has been a key growth driver for Synergee. It speeds up the forecasting process, especially when clients maintain good records, and leads to many unique success stories. 

Although still in the early days, Synergee has observed a significant transformation in its client relationships. For example, turning a compliance client into an advisory client can increase fees from around £2,000 to £8,000 per annum, due to the increased value the client receives.

On this note, in an increasingly price-sensitive compliance market, where software solutions drive down costs, Darren describes how clients often view compliance services as a homogeneous necessity rather than a benefit. On the other hand, advisory services add tangible value that clients can readily appreciate. Spotlight Reporting forms the backbone of the advisory and reporting offerings, enabling businesses and firms to provide enhanced value to their clients.

“Compliance will become ever more price sensitive as software solutions improve and clients seek out lower prices for something that they see as a homogeneous necessity rather than a benefit. Advisory services add value and clients can see the benefit. Spotlight Reporting forms the backbone of your advisory and reporting offering.”

Spotlight Reporting has not only helped Synergee overcome significant challenges but also enabled the firm to deliver superior advisory services. By providing relevant, reliable, and timely information, the solutions have  empowered Synergee’s clients to make better business decisions, driving growth and success for both their clients and themselves.

In today’s world staying ahead of the curve is paramount. Synergee’s commitment to innovation and client-centric solutions ensures just that they remain at the forefront of the industry, driving growth and success for their clients and themselves. As the landscape of accounting technology continues to evolve, Synergee stands as a testament to the power of embracing change and leveraging cutting-edge tools to achieve excellence.