Customer story
NeonAudit
Learn how streamline and conduct higher quality audits with intelligent automation
Established in 1941, Accru Felsers is part of an award-winning network of accounting firms across Australia, dedicated to helping businesses grow and thrive while managing financial risk and compliance. With strong and trusted professional relationships in Europe and across Asia, Accru Felsers specializes in streamlining financial operations. They understand that every business has unique needs and pride themselves on providing personalized service to ensure client success.
This success story is created in collaboration with Accru Felsers in Sydney, Australia.
Accru Felsers acknowledged the importance of robust efficiencies in their financial reporting process. Prior to implementing DataSnipper, the team recognised the merit in automating the review process for changes between report versions. Replacing a more labor-intensive and time-consuming process and improving accuracy. On average, reviewing a set of financial reports would take the team one to two days—a task that diverted valuable resources from focusing on critical findings. The need for a more efficient and reliable solution became evident as the demands on the team continued to grow.
Created by auditors and loved by auditors, DataSnipper brings the power of automation and AI to life in real-time. Their commitment to enhancing and simplifying our work is evident, and it makes DataSnipper an indispensable part of our toolkit.
Accru Felsers fully integrated DataSnipper into their audit team in 2022. Their journey with DataSnipper began even earlier, during which they partnered closely with the DataSnipper team to provide feedback and suggestions, tailoring the implementation precisely to their needs. This collaborative approach ensured that Accru Felsers could extract the maximum value from the platform.
Accru Felsers utilizes DataSnipper across various audit procedures, including revenue, expenses, inventory, receivables, payables, payroll, and notably, in the financial report review process. DataSnipper has excelled at uncovering anomalies, outliers and exceptions in client data, and assists in generating audit evidence and documentation, thereby enhancing the overall audit quality.
A key advantage for Accru Felsers is DataSnipper's seamless integration with Excel, which minimizes implementation costs and streamlines workflow. Given Accru Felsers’ extensive use of Excel, this integration avoids the complexity of managing multiple platforms, ensuring a smooth and efficient audit process.
One standout feature for Accru Felsers is the Financial Statements Suite and specifically, Version Compare. These features have saved the team countless hours per client. With DataSnipper, Accru Felsers can swiftly identify calculation errors, spot inconsistencies with prior year reports, and track changes between versions—tasks that previously consumed significant time and effort when performed manually. As result, the team at Accru Felsers has reported time savings of 2 to 7 hours per engagement depending on the size of the report.
In Accru Felsers' fast-paced, high-volume professional services firm, it has been essential to stay ahead of the curve with cutting-edge technology. Clients expect Accru Felsers to lead in innovation, and Accru Felsers takes pride in delivering just that. When evaluating new software for their audit engagements, they focused on several key criteria:
User-friendliness and Intuitiveness – The software needed to be easy for the team to use effectively
Value Addition and Compatibility – It had to enhance existing processes and integrate seamlessly with current systems
Data Security – Protecting clients’ information was non-negotiable
Ongoing Support and Innovation – A partnership with a vendor that continually evolves with technological advancements was crucial
After testing various options, DataSnipper stood out as the only solution that met with Accru Felsers' high standards. What sets DataSnipper apart is that it was created by auditors for auditors, reflecting a deep understanding of the audit process in its design and functionality. It combines artificial intelligence and automation in a single, powerful platform. With AI and automation advancing rapidly, DataSnipper was a natural choice for Accru Felsers, and the results have been nothing short of impressive.
DataSnipper enables Accru Felsers to detect calculation errors, identify discrepancies with previous year reports, and monitor version changes—significantly reducing time and effort compared to manual processes.
DataSnipper's seamless Excel integration and its intuitive interfact reduces implementation costs, streamlines workflow, and eliminates the need for multiple platforms, resulting in a more efficient audit process.
As a fast-paced, high-volume professional services firm, Accru Felsers prioritizes cutting-edge technology to meet client expectations for innovation. DataSnipper's AI-powered automation platform aligns perfectly with this goal.
