SalesGap Case Study

SalesGap is a full service sales company helping companies, from large bluechips to one man bands, grow their business. Launched by Craig McKenna in 2007, SalesGap is headquartered in Edinburgh with a team of 14.

It creates and implements sales strategy and pulls together sales teams for companies launching a new venture, offering new products, entering new markets or undergoing rapid growth.

Challenge

“Every month SalesGap produces management accounts for its investors and board of directors,” reports Craig.

“It is these accounts that allow the company to plan and make business decisions. Are targets being met? Can the business sustain a new hire? Where can savings be made? How can growth be achieved?”

Previously Craig engaged a bookkeeper and accountant to produce the management accounts using a combination of Excel spreadsheets and Sage. Each month this took at least two days.

Solution

Craig was introduced to FreeAgent by a fellow entrepreneur and owner of a small business. Getting started on FreeAgent was quick and easy. It only took Craig one day to enter 18 months of transactions, bringing him right up to date and giving him a clear picture of his finances.

Every month he spends no more than 20 minutes entering income and expenses and is able to produce the management accounts in half an hour. The software has a clean and simple design, highly intuitive and usable. It prepares VAT returns, calculates corporation tax and manages payroll. Craig can monitor profit and loss; send and track invoices; track time and expenses and manage projects and payments.

Results

“You can’t run a business without knowing the figures and the SalesGap board of directors now has an up to the minute picture of profit and loss,” says Craig.

The time spent on the SalesGap books is now measured in minutes rather than days. There is no longer any need for a bookkeeper, Craig spends less time every month and his accountant’s fee has been reduced.

Many small businesses drift into danger because they don’t have a clear picture of their finances. Corporation tax and VAT returns can be a nasty surprise and in the current economic climate where bank lending is restricted it is vital that small businesses remain in control of their cashflow.

It's so cool … you have to try it. It saves me a huge amount of time and effort every month and allows me to get completely accurate information for my board. This means that we can work on the really clever stuff with our accountant and get the financial advice that will help us grow the business, even in a recession.

Craig McKenna
Company:
SalesGap
Company Type:
Limited Company
Sector:
Sales
Founded:
2007
Size:
14