A little bit about Capital Transport
Capital Transport is a national full service transport and logistics company. It specialises in on-demand transport including couriers and taxi trucks that deliver same day, point to point in as little as two hours. Operating for 29 years, Capital Transport are the largest, privately owned courier and taxi truck business in the country. Their transport management system is dynamic, flexible and feature rich. They wanted a business management software solution to match this experience.
Meet Lewis, Chief Financial Officer
As the Chief Financial Officer at Capital Transport, Lewis clearly understood the limitations of their existing accounting and finance software. With the aim to continue to grow Capital Transport’s footprint in Australia, Lewis played a big part in the decision to move to Wiise. We sat down with Lewis to hear why Capital Transport chose Wiise, and how Wiise has helped their business.
A reporting headache
Capital Transport had grown substantially and was performing over 8,000 consignments per day, with over 20 entities nationally. They were using MYOB AccountRight Premiere at the time, but with growing business complexity, the system wasn’t keeping up. They couldn’t manage intercompany transactions or consolidation so reconciliation was extremely time-consuming. They were doing a tonne of multi-entry and were double handling data. Unable to customise or tailor reports to suit the company, they were spending their time on admin rather than running the business.
Key challenges faced
- Using separate instances to manage separate entities
- Limited number of users able to access the system at once
- Reporting that took weeks to produce
- No automated intercompany transactions
- No automated consolidations
- Limited transaction volumes
A system for the long term
Capital Transport knew they needed to move the cloud. They wanted to manage all their entities in one, fully customisable system.
The decision to go with Wiise came down to functionality and the long term benefits of the Microsoft Office connection.
They needed software that could handle large transaction volumes, intercompany transactions, multi-company and consolidations.
With the goal to get into the detail of their finances, Capital Transport were looking for software that could provide a clear view of where they were spending money. This meant dimensional tagging and the ability to customise reports.
Time back for the business
Wiise has allowed the Capital Transport Finance Team to transform the way they operate, both as a team and in the way they support the business. It used to take them around two full days to produce their mid-month reports and around five days per month to produce their monthly management reports. It now takes one and two days respectively. This has saved Capital Transport 60 full days a year. They now use the time they spent preparing reports to look at how the business is running and understand how to grow their operations further.
Lewis emphasised, “With the extra time we’ve saved, we’re now empowered to be able to analyse and interrogate the data rather than spending all of our time preparing it.”
Benefits for Capital Transport
- Can now see all 20 entities in the one place
- Can get a full accurate P&L across every entity
- Huge time savings
- Increased operational efficiencies within the Finance Team
- Able to reinvest extra time into growing the business
- Ability to predict trends and cash flow, using cash flow forecasts and reports
- Seeing granular financial detail with customisable reports