(PRWEB) December 10, 2014
The franchise, which has established eleven stores around the UK since February 2014 and with many more planned, required a functional, reliable and efficient accounting system and chose Twinfield UK for its growing business.
Anil Patil, managing director of 23.5 Degrees, says: “Before creating our partnership with Twinfield we had outsourced our accountancy function and also trialed working with an in-house accountant; however both of these experiences were not entirely successful.
“We wanted something that was accessible and easy to use — even for those without a background in accountancy. The system has really enabled growth, due to the reduced time spent inputting and analysing data and supporting key stakeholders — such as our directors, Starbucks’ management and financial representatives — in understanding the data. This time can now be spent training and developing staff and developing new sites for our business.”
For a young company, Patil says that safeguarding the confidence of investors and all those involved in the franchise is a fundamental aspect of growth. The Twinfield system places all significant information in one place making it readily available for management and third parties to access.
“Investors are increasingly attracted to 23.5 Degrees because the clear data we can present using Twinfield’s online accounting solution gives them confidence in the strength of our business. There is a direct correlation between the use of Twinfield and time saving, cost reduction and ultimately greater business progress.”
Patil concludes: “The Twinfield team has been very supportive and, on the few occasions that we have needed assistance, any issues have been quickly resolved. Using the cloud accounting platform has proven highly successful for us – it has been easy to use, efficient and consistently produced accurate and reliable information.”
Barbara Kroll, managing director of Twinfield UK, says: “In the competitive and increasingly pressured world of franchising, the most progressive companies – and indeed individuals – are those who aren’t trying to tackle today’s challenges with yesterday’s solutions, but are instead leveraging technology to accelerate progress and facilitate growth.
“For the franchisor, the reduced administrative burden gives greater time to focus on other areas of the franchise, and the franchisee gets more time to focus on strategic business development targets.”
About Wolters Kluwer
Wolters Kluwer had 2013 annual revenues of €3.6 billion, employs approximately 19,000 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt programme. The ADRs are traded on the over-the-counter market in the US (WTKWY).
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Twinfield UK is a subsidiary of Twinfield International nv, the European market leader in the area of online accounting and part of the Wolters Kluwer Tax & Accounting division, the global leading provider of tax, accounting and audit information, software and services. Online accounting via Twinfield means flexible accounting, with a range of subscriptions to suit small and large organisations. Twinfield also ensures efficient, secure, real-time data exchange between clients and administration or accountancy firms. Because Twinfield works as a web application, users can access and exchange financial reports online anywhere and anytime via a secure internet connection. For more information about the company and its services go to Online Accounting By Twinfield.
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