"Rsult gave is insight into our business fundamentals."
Lightfoot is an award winning, highly innovative technology cleantech company; their product incentivises drivers to save fuel and reduce emissions. With one incredibly cool office, a passionate team with work hard play hard winning mentality it was a fun project to get involved in. Their current system was no longer able to cope with the growth and was unable to handle the recurring revenue model and all the issues that were associated with it.
Lightfoot faced an increasing common challenge in the market today; a business with wholesale needs and problems coupled with needs to see in a modern day software company with a recurring revenue model. Here are some of the challenges they faced:
- Recurring revenue model with a mixture of contracts from monthly, quarterly and annually with a mixture of hardware paid up front or rolled in the contract.
- Recurring revenue permutations (monthly changes in number of users etc)
- Multiple warehouses, and consignment inventory
- Kitting and product assembly from components
- Basic modern day finance time saving features were missing from their current solution such as automated bank feeds
We recommended and implemented a wholesale solution with their subscription module included. This offered a number of features to help Lightfoot’s operations.
- One single platform to bring together the core business processes.
- Subscription module allows easy repeat invoicing across number of different terms and contract agreements with the ability defer revenue automatically across periods.
- Full system focused purely towards the needs to the modern wholesale client.
- Multiple warehouse and real time inventory with full kitting module.
- Finance team time saving features such as automated bank feeds, robust asset management system to automate depreciation
- Open API in order to automate processes in to the Exact system from their software platform.
- Time saved on the finance team has freed them up to work on more value add activities rather than administration tasks.
- A system which can handle the complexity of recurring revenue models ich means instead of manually raising invoices monthly the system automates and also engages when contracts are expiring making renewals simple
- A system which allows the warehouse team to make quicker decisions on inventory, procurement and dispatch.
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