Mel Outsource Saves Countless Hours with Mayday

Mel, the Business Director at Mel Outsource, has reduced the time spent managing intercompany transactions for her client, a Property Development Group, by at least half since signing up for Mayday in September 2023.

"We at least reduced our time by half" – Mel Crawford

About Mel Outsource

Mel Outsource is an accounting firm that serves a diverse range of clients. One of their key clients is a company specialising in property development and providing holiday accommodation services. With 11 entities, managing the intercompany transactions and reconciliations for such a large group was proving to be a significant challenge for Mel and her team.

Intercompany Pain Pre-Mayday

Before discovering Mayday, Mel's team relied on manual processes to handle the Property Group's intercompany transactions.

"We were using spreadsheets for preparing balance sheets, checking intercompany loans and transfers. And for charging. It was a lot of manual labour", Mel explains.

This manual approach not only consumed a considerable amount of time but also introduced the risk of errors.

"With a manual process, you might have a bookkeeper who interprets a certain line item in a different way. So we really wanted to prevent mistakes and save time", Mel points out.

Discovering Mayday at Xerocon 

Mel first came across Mayday at Xerocon, Xero's annual conference. "I was at Xerocon and I walked past Mayday’s stand. As soon as I spoke to the team I was immediately thinking, ‘Oh yes, we need this!” 

“I thought, we need this, because we have one group of clients where one particular entity acts like an agent to the other entities. There are a lot of bills of process there to be on-charged to the other group entities. And the intercompany loan balancing was also of massive interest", she recalls.

Mel signed up for Mayday in September 2023 and started using the software for her client.

The Mayday Difference

Since implementing Mayday, Mel has seen a significant improvement in efficiency and accuracy.

"What I like the most about Recharger is that it doesn't only create the invoice in one entity, but it also creates the bill in the other entity with all the line items and amounts to the correct account ledgers and tracking categories. That's an enormous time saver," Mel enthuses.

Mayday has not only saved time but also provided Mel with the opportunity to focus on higher-value tasks. "If I have more time to look at figures and advise clients on their finances, that’s most beneficial, for them as well.”

“If I just have to do all the groundwork then I don't have time. You know, there's only so many hours in the day, and this particular client that we use this for definitely is very keen on advisory. So yeah, for me, anything that is a timesaver is beneficial," she explains.

Recommending Mayday to Others

When asked if she would recommend Mayday to other accountants, Mel's response is an emphatic yes.

"Oh definitely! I’d recommend Recharger and I would definitely recommend Balancer, as those are the two main products that we use. If you have a lot of intercompany transactions, those two are really great," she affirms.

Mel concludes:

"My experience of Mayday has been really, really positive. The support has been fantastic, I've always had very quick responses to any questions.”

“I can't wait to see what else you guys come up with that can help our industry. Keep up the good work!”