Michael O’Mara Books, a leading independent publishing house publishing both adult and children’s titles worldwide, is to increase its business efficiency and improve cash collection by implementing a financial management system from m-hance. This new system will also enable the company’s finance team to save up to two working days each month by streamlining a range of accounts receivable (AR) and management reporting processes. m-hance’s system will be fully live by the end of March 2013.
Michael O’Mara Books required a highly functional financial management system to reduce the burden of manually intensive AR processes in order to improve cash flow and reduce debtor days. It also wanted to speed-up the accessibility of business insight information and track key performance indicators for management reporting purposes.
Stephen Watson, Accountant at Michael O’Mara Books, says, “m-hance has been a trusted partner for many years and placed great emphasis on helping us to identify areas where we could maximise our business efficiency levels. After demonstrating the new and improved functionality of its finance system, it was clear that we could gain additional cost and productivity benefits through streamlining our processes by implementing this world leading technology.”
m-hance’s finance system will automate a range of manually-intensive financial processes to speed-up Michael O’Mara’s cash collection procedures. The new functionality will enable multiple sales invoices and related documents to be emailed automatically from the core application and will present an instant visual indication to determine whether the records have been successfully received. Within a navigation list, users can choose to email multiple vendors or customers with copies of particular documents, all from one screen, further improving productivity. The system’s advanced reporting capabilities will also provide critical performance insight needed to help Michael O’Mara Books make better informed decisions about its business.
Watson comments, “By fully automating our accounts receivable processes m-hance’s system will save the finance department up to two working days each month which was previously taken up by labour-intensive administrative tasks. This will help us to improve cash flow and focus more time on cash collection activities such as reducing debtor days which will directly benefit the business’s bottom line.”
Watson adds, “m-hance’s system will also provide improved visibility of financial and operational performance across the organisation by enabling us to quickly and easily determine which of our books are most profitable. With this information more readily available it will assist us to shape our future business strategy.”
Notes to Editors
About Michael O’Mara Books www.mombooks.com
Now in its twenty-eighth year, independent publishing house Michael O’Mara Books has established a reputation for high-profile autobiographies and biographies (including Anything Goes by John Barrowman, A Fart in a Colander by Roy Hudd, My Word is My Bond and Bond on Bond by Sir Roger Moore and Andrew Morton’s Diana: Her True Story, the second highest-selling book of the 1990s). The company has also embraced the pop world, publishing bestselling biographies of Justin Bieber and boyband One Direction.
Michael O’Mara Books’ list includes humour and non-fiction (such as the Sunday Times bestseller I Before E (Except After C), The Timewaster Letters and The Book of Senior Moments), and fun and fantastic children’s books published under its Buster Books imprint, named after the O’Maras’ beloved Norwich terrier.
About m-hance www.m-hance.com
m-hance is a UK-based company providing innovative and functionally rich business software solutions to 2400 mid-market sized organisations including Innocent Drinks, RFU, Viridor, Millennium Hotels, Make-A-Wish, Hewden and Endsleigh Insurance. m-hance’s core solutions offering consists of financial management, CRM, enterprise social networking, SharePoint, HR & Payroll, managed services and software development in a variety of vertical markets including distribution, manufacturing, not-for-profit, professional services and infrastructure.
m-hance has been formed following the acquisitions of Calyx Software, Gyrosoft, Trinity Computer Services and elements of MentecPlus, Touchstone Group and Maxima Holdings plc. m-hance is currently supported by 230 staff from offices in Manchester, London, Loughborough, Dublin, Glasgow and the United States. m-hance also has offshore development capabilities in India.
In September 2012, m-hance was ranked in the Tech Track 100 league table as one of the fastest-growing private technology companies in Britain after achieving record sales growth of over 45%.
Ben Carey, PR Manager
T: 07713 196971 e: firstname.lastname@example.org
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