Ryecroft Glenton, the Newcastle-based advisory firm, has expanded its digital cloud accountancy department following the successful roll out of a new accounting and advisory service.
The firm has created two additional roles within its seventeen-strong digital team to support demand from growing businesses for its OutsourcedFD service.
Daisy Shek and Viki Hearn have joined as cloud accountancy specialists delivering the service, which enables businesses to focus on growth and core operations while OutsourcedFD manages companies’ accountancy functions.
OutsourcedFD offers a range of services with core features including Bookkeeping, monthly and quarterly Management Accounts and Payroll.
Optional services available to the client include, among others, budgets, cash flow forecasting, growth and corporate finance advice, monthly board meeting attendance and non-executive director positions.
Since introducing the service earlier this year, Ryecroft Glenton has secured a portfolio of 19 new clients and helped a number of existing clients adopt this technology, taking the firm’s digital portfolio to in excess of 200.
Among its new clients is fast-growth niche recruitment business, Coleman James. The Newcastle-based firm, which focuses on the construction and built environment sectors, has experienced rapid planned growth since it was founded more than a year ago. Since last October it has experienced growth of 534% and is on target to reach its first million turnover milestone in its current financial year.
Founded by experienced recruitment specialist Andrew Mackay, the business has been built on developing close working relationships with directors of significant industry employers. Having established a team of six experienced recruiters, Andrew has expanded the business into the architectural, building services and interior design markets to supplement its core building & civil engineering markets, placing high quality candidates into professional, white collar roles.
Most recently the business has entered the contractor market placing candidates on a project-by-project basis. This has also been supported by Ryecroft Glenton’s OutsourcedFD system, which manages the invoicing and payroll requirements of the contracting division.
Dan Cooper, Senior Manager, who jointly leads on the OutsourcedFD service at Ryecroft Glenton, said: “Fast growth businesses need to be focused on scaling up through evolving and expanding their operations. The support of a cloud-based accountancy system not only allows businesses to concentrate on growth, but gives directors access to the information they need quickly and whenever they need it.
“Coleman James is a great example of the fast-growth businesses Ryecroft Glenton is working with, which are benefiting from the support and technology we are providing.”
Andrew Mackay, Managing Director of Coleman James, said: “Having worked with a couple of accountancy firms in the early stages of establishing the business it was evident we needed a more business-focused and agile service that could keep pace with our growth. OutsourcedFD not only meets our requirements, but gives us access to the wider services available from Ryecroft Glenton, including its corporate finance department, which provides the advice and expertise needed to build upon our success to date with further expansion opportunities.”
(Picture: (L-R) Andrew Mackay, Managing Director. Coleman James Ltd & Dan Cooper, Senior Manager. Ryecroft Glenton)