A Synergy Consolidated Experience
Synergy Consolidated, a client-focused firm established in 2003, has grown to become a trusted advisor for over 600
client groups across Queensland and northern New South Wales. Specializing in business strategy, tax, finance, and
personal accounting, Synergy consistently seeks innovative ways to enhance efficiency and ensure results. In pursuit
of these objectives, Synergy partnered with NexBot to automate their BAS worksheet processing. This case study
explores how the deployment of NexBot transformed Synergy’s operations, providing quantifiable benefits in terms of
efficiency, accuracy, and client satisfaction.
About Synergy Consolidated
Founded in 2003, Synergy Consolidated is committed to being a dynamic partner in the personal and professional growth of its clients. With an experienced team of 27 advisors, the firm prides itself on its ability to simplify complex financial processes, enabling clients to focus on growth. Synergy serves a diverse clientele, including small businesses and high-net-worth individuals, ensuring that their accounting, business strategy, and finance needs are met with precision and expertise.
Core Objectives
Enhance process efficiency and
accuracy.
Enable team members to focus on strategic initiatives by automating repetitive tasks.
Provide clients with timely, error-free services.
The Challenge
Managing BAS
Worksheet Processing
BAS (Business Activity Statement) processing is a
critical but time-intensive task for Synergy. As client
numbers grew, managing BAS worksheets manually
became increasingly challenging, resulting in
Time inefficiencies
Manual processing consumed 96 hours per cycle,
spanning 12 days.
Risk of errors
Human involvement in repetitive tasks heightened the risk
of inaccuracies.
Opportunity cost
Time spent on BAS worksheets limited the team's ability to
engage in strategic, value-added activities
The Solution
NexBot
Implementation
Synergy chose NexBot, an advanced automation
platform, to address their BAS processing
challenges. NexBot stood out for its speed, accuracy,
and adaptability. Its key features included
3x Faster Processing
NexBot completed tasks in a fraction of the time required
by manual efforts.
Pay-As-You-Go Model
Flexible pricing ensured that Synergy only paid for what
they used.
High Accuracy
Automation minimized errors, ensuring compliance and
reducing rework.
Quick Deployment
The platform was operational in just 12 days, including
development and testing.
Data Security
Synergy retained full control over sensitive financial data.
Development Timeline
Development Phase
10 days (80 hours)
Testing Phase
2 days (16 hours)
Implementation Details
The implementation process was structured as follows
Needs Assessment
Synergy worked closely with NexBot’s team to outline the specific requirements for BAS worksheet automation.
Customization
NexBot tailored its features to Synergy’s workflow, ensuring seamless integration with existing processes.
Testing and Validation
Rigorous testing ensured that the automated system met accuracy and performance benchmarks.
Deployment
NexBot was deployed within the agreed timeline, causing minimal disruption to ongoing operations.
Outcomes
Time Efficiency
- NexBot reduced processing time from 96 hours to 32 hours, achieving a 66% reduction.
- Tasks that previously spanned 12 days were completed in just 4 days, enabling faster service delivery.
Enhanced Accuracy
- Error rates dropped to near-zero, reducing the need for revisions.
- Automation eliminated errors associated with manual processing, improving compliance and client satisfaction.
Cost Savings
- By streamlining operations, Synergy reduced the overall cost of BAS processing.
- The pay-as-you-go model allowed the firm to scale automation usage based on demand.
Strategic Focus
- The firm reported increased staff satisfaction and productivity.
- Freed from repetitive tasks, Synergy’s team could dedicate more time to strategic client initiatives.
Competitive Edge
- Faster, error-free services enhanced Synergy’s reputation as a reliable partner, attracting new clients. Furthermore, the use of advanced technology positioned Synergy as an innovative leader in the financial advisory sector.
“NexBot has revolutionized the way we handle BAS worksheets. The time savings and
accuracy improvements are remarkable. More importantly, our team can now focus
on strategic growth initiatives, delivering more value to our clients. NexBot has been a
game-changer for us.”
– Synergy Consolidated Representative
Conclusion
The partnership between Synergy Consolidated and NexBot exemplifies how technology can drive business transformation. By automating BAS worksheet processing, Synergy made the processes efficient and accurate with the team more focused on strategic growth. The NexBot has proven to be a reliable cost-effective solutionaligning well with Synergy’s objectives.
As Synergy moves forward with NexBot, this is a case of how automation, in the sector of financial advisors, can
actually be transformative.
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transforming taxation and
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