Case Study 1 - Media Industry Association

SKW Consulting provides a reliable and regular book keeping and administration service to an organisation which is the pre-eminent body in the media industry.

In addition to general book keeping services we were tasked to improve current processes and facilitate the use of technology to increase operational efficiency and financial reporting.

We brought all the accounts up to date and then sought to free up the General Managers time and improve reporting. Previously the GM was manually paying all bills by online banking and manual cheques. As part of this we implemented the electronic payment service “M-Powered Payments” from MYOB which allows payment of suppliers directly from MYOB. It also improves reporting efficiency by ensuring accounts are accurate up to the current days activities.

As part of this service Payroll was included in the electronic payment facility which gets tasked as a priority transaction meaning pays are electronically transmitted faster to employees’ bank accounts.

Due to the international nature of the business we also have many suppliers from overseas who needed payment in their local currency. We researched and chose an online FX service provider who was less expensive that the manual or online banking method. The new FX facility resulted in decreased FX transfer costs and faster international transfers, as well as faster reporting.

SKW Consulting always endeavours to improve our clients financial and business operations enabling management to focus on growing their business not managing the time consuming and repetitive activities that act as a disincentive to growth.

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