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Otiumberg Case Study

Providing greater management reporting with clearer insight on financial performance.

Otiumberg are a women’s jewellery business that sell D2C via their Shopify website, as well as wholesale to retailers. In the past few years, the company’s directors Rosanna and Christie have overseen really strong growth in the business.

As their business has continued to grow, they realised they needed help in a few ways:

  • They wanted better, all-round management reporting.
  • More detailed insight and visibility on their financial performance to provide a platform they can use to better plan their business.

We began with a full review of their SKU costing methods, also assisting with the rollout of an Inventory warehousing system which integrates with Xero. This has helped streamline their operations, improved inventory reporting, and given them better overall control of their inventory.

Next, we worked with the Directors to finalise a Business Plan which they will be reviewing against actuals in Xero going forward. This has helped them get a better view over their cost base and given them the confidence to be able to make better informed decisions.

How we helped

  • Xero Accounting software Yes
  • Receipt Bank software Yes
  • Bookkeeping in Xero Monthly
  • Payroll Monthly
  • VAT Quarterly
  • Annual Financial Statements Yes
  • Annual Corporation Tax Return Yes
  • Annual Confirmation Statement Yes
  • Dividend Administration Yes
  • Management Reporting Monthly
  • Tax Optimisation Yes
  • Business Plan Yes

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Don't just take our word for it

Since we've been working with PennyBooks they have improved and automated our accounting resulting in significant time and cost savings. For an ecommerce business like OPUMO it's imperative that we remove manual processes and fully streamline and integrate our systems, our bank's systems and accounting and reporting software and this is something that the team at PennyBooks did quickly and efficiently. Deadlines are met on time and the team are great to deal with. We simply can't recommend them highly enough.
Harry Beattie- Director
Opumo
To say that Pennybooks offer an invaluable service is an understatement. Their knowledge, professionalism and willingness to explain everything every step of the way gives me utter confidence that they’re the best at what they do.
Kat - Director
Scorpio James
Like many small businesses, myself and my business partner are spinning a lot of plates and so we needed some guidance on implementing new systems to help us with our cash flow. Brendan really helped us see the wood from the trees. He looked into the various accounting products on the market to suit our business, has set them up and is now very patiently training us on how to use them. We now feel so much more confident and comfortable with the financials of our company and get can on and grow the business knowing that Brendan has our back
Patti Patrick - Director
Obbard
Pennybooks has given us the personalised financial support necessary to be able to grow our business with confidence
Rosanna Wollenberg – Director
Otiumberg
A welcome change from my old accountants. Reliable and friendly, and always available when you need help. Using the last tech to keep costs down I feel the accounts side of things is now no longer a chore and can be done quickly and efficiently. Highly Recommend
George Chesterton - Director
Finn Studio

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