Case Studies
10 Times the Workload Without Having to Hire New Finance Staff
Clinton Wells
Head of Group Finance at HUB24
"The HUB24 promise is to create and embrace innovation that delivers - on our platform, through our products and through our own internal processes. Working with Zudello is now a significant contributor to our innovations, through customised automation, ease of use, service and its adaptability as our business grows."
Innovative Technology Helping Financial Futures
HUB24 was established in 2007 by a team with a strong track record of delivering market-leading solutions in the financial services industry. Recently added to the ASX100 index, the company is focused on empowering advisers to deliver better financial futures for their clients with innovative technology, customer service excellence, education and a broad choice of investment options.
HUB24 leverages data and technology to provide choice, flexibility, efficiencies and value for advisers and their clients. The company is committed to continued investmentin innovation that delivers, making the complex simple and enabling advisers to empower better financial futures for more Australians.
“The ethos of the company is about making the customers’ lives better,” explains Clinton Wells, Head of Group Finance at HUB24 Limited. “And everything we do is based around that. It starts with our own internal processes.”
Automate to Stay Afloat
When Clinton joined HUB24 in 2021, it had a fintech start-up feel - but one that was on a massive growth spurt.
“When I joined, we had three accounts payable people, and were doing maybe 30 to 40 invoices manually a week, so doing eight a day per person. All of the data input was manual and we could see the business growing really quickly. So we had to change something to stay afloat. That something was everything.” says Clinton.
“We brought in Zudello, we're now processing 10 times the volume of invoices - sometimes doing 300 to 400 per week. And we achieved this with no increase in the AP team. In addition, we actually freed up their time to take on higher value responsibilities that they find more rewarding,” says Clinton.
Many solutions promise the world, but fall down on delivery. But, Zudello prides itself on exceeding expectations and helping our customers succeed. “I remember the pitch from Zudello and some other providers,” recalls Clinton. “Zudello was very knowledgeable about the product and realistic with what it could deliver and how long implementation would take. They built our trust quickly, while the others seemed to be overpromising to gain a sale.”
Zudello has built a team of experts - not only in the fields of software and technology - but in business finance and operations. This means that the team understands the fullbusiness context and implications of Zudello’s solutions. “They could talk to a broader process than just their offering. So they understood how their offering fitted into a wider ecosystem. For example, where others just claimed that they could automate AP, Zudello also explained how automation of AP would have flow-on effects to other parts of the finance process.”
Zudello ensures your unique compliance needs are implemented into each automation along with providing secure audit trails of every action. “The other big benefit of Zudello is that it’s removed variability and increased accuracy over the manual processes - not only across our general ledger, but our HR systems, all internal systems now align with a clear understanding of cost centres and where costs need to be attributed,” says Clinton. “The auditors have commented on how well our environment runs for a company of our size.”
Zudello's reputation has been built on delivering a highly stable platform, backed by excellent customer service and ongoing innovation. “Zudello was open architecture, if you will,” explains Clinton. “And they would work with any ERP system. There were some other products that looked good, but they were very strict with the ERP system you could use it with. With Zudello, it doesn’t matter which ecosystem you use.”
Efficiency
We started with three accounts payable people, and 30 to 40 invoices manually a week. We now are sometimes doing 300 to 400 per week. And all achieved with no increase in the Accounts Payable team.
Accuracy
The intricate understanding of both accounting and technology is a game-changer. Zudello is one of the few solutions that prides itself on having deep insights in both camps to ensure greater accuracy based on accounting requirements.
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Buy-in from the Business
While other products may have a slick interface, their integration potential was limited based on strict ERP system requirements. Zudello worked with HUB24 in an open architecture manner, utilising current ERP systems such that it was easier to implement and faster to utilise.
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