How an EdTech company reduced costs by 75% with Sonnecto

Accounting and Bookkeeping Services 

Challenge

The way in which our client formerly handled invoices from their vendors and suppliers was unstructured and lacked productivity. The entire process was carried out manually, resulting in numerous errors and increased turnaround time. This client needed a partner to help them optimize and scale their business operations to serve a global student base with individualized payment plans for each student while reaching their growth targets. They enlisted Sonnecto as its partner to build out entire support teams, including accounting and bookkeeping. 

Solution

Accounting Services outsourced:

• Financial Data Entry
• Invoice and Expenses Recording
• Payroll processing
• Accounts Payable and Receivable
• Reconciliation

Bookkeeping Services outsourced:

1. Preparation and Adjustment of Entries
2. Financial Statements
3. Operational Costs Analysis, Journal and Ledger Entry Analysis

Sonnecto is constantly on the lookout for ways to ensure that received payments are audited promptly, resulting in more accurate revenue and fewer failed payments. Our team simplified department processes by implementing accounting software platforms that better manage all tasks in a single location.

Since 2019, we have utilized a diverse set of software, from Zoho CRM to Salesforce, QuickBooks, Climb Loans, Wise, PayPal, and Stripe, which have enabled us to develop streamlined and differentiated solutions with each platform.

1. Integration to Salesforce, creating manuals and guidelines
2. Create and process receivables on Salesforce and QuickBooks
3. Recording and processing payments on PayPal, Wise, and Climb
4. Matching on QuickBooks
5. Create financial reports on Salesforce & QuickBooks

We provide backups, security software, and quality assurance required to maintain protected financial data. Sonnecto’s financial support team remains updated and informed on government tax and compliance regulations, ensuring that no processing errors occur.

Sonnecto has kept all data secure as the client has expanded into the European market by utilizing platforms like Salesforce and Wise.

Results by the numbers

By creating extended teams with Sonnecto, our clients are increasing their revenue and customer satisfaction while expanding to new markets. These are the results we have achieved:

• Staff retention 93%
• Cost savings 75%
• Process optimization 60%
• 850 emails per month regarding financial support
• Budgeting reports for the near future, up to 3 months of optimization