Who: FAMILIA is an award-winning production house specialising in creative content across advertising, music, fashion and film & doc, incorporated since 2012.
The Situation: Familia work on a variety of projects, domestically and internationally meaning they remain constantly busy. This resulted in their finances being a mundane time-consuming task and a lot of duplicated effort. Familia did not have a financial system for tracking and recording transactions and thus were not able to truly understand the profitability of their business.AO Accountants solution: We met with the Directors and established a number of key procedures. We decided Familia were well suited to our ‘Excel’ services.
- We really understood Familia as a business and their current situation, we then decided a cloud platform was best to track their business transactions.
- We became their external finance team which allowed them to focus on producing their projects.
- We set up the relevant systems and processes to ensure automation, easy handling of paperwork and the production of reports to aid key management decisions.
- Familia have a fully functional accounts department that is extremely responsive
- The rapid growth at Familia has seen average members of staff increase 77% over 4 years
- Familia are now able to check the status of supplier invoices at any time to ensure there are no duplicate payments made.
The ever-evolving accounting system that was established by AO Accountants to service our unique needs has been hugely positive and beneficial to FAMILIA. It has offered us quick access to key information, while also optimizing efficiency in our day-to-day (job wraps and invoice processing) as well as long term financial work (VAT returns and end-of-year accounts), and therein freeing up valuable time that has been used for creative work and business development. The combination of which has seen a marked and consistent increase in both our turnover and profits, year-on-year. – Sasha Nathwani, Director, www.wearefamilia.com