Supporting a new
generation of businesses

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Opumo Case Study

Working to provide reliable,
management reporting
for a business in transition

Opumo are an online retailer of men’s clothing, footwear and lifestyle items. When we first began working with them, their directors Nick and Harry were in the process of changing their whole business model.

They came to us wanting two things:

  • Faster, more accurate management reporting that they could review with confidence every month with their investors.
  • A clearer view of their financial performance and profitability reporting on their new revenue stream.

We immediately got to work on solutions.

We knew that Opumo was a business with a high volume of purchases and D2C sales in multiple currencies across multiple territories.  So, we set about doing a full review of the processes and the integrations to their website platform – optimising the systems set up where possible.

We also helped make their monthly payroll process smoother, supported them on R&D Tax credits, and performed reviews of their tax setup.

Today, we’re delighted to see their business going from strength-to-strength and continue to have a great relationship with Nick and Harry. We’ve been able to give them the tools they need to assess the success of their new business model, and accurately review it with their wider stakeholders.  

How we helped

  • Xero Accounting software Yes
  • Receipt Bank software Yes
  • Bookkeeping in Xero Monthly
  • Payroll Monthly
  • VAT Quarterly
  • Annual Accounts Yes
  • Annual Corporation Tax Return Yes
  • Annual Confirmation Statement Yes
  • Management Reporting Monthly
  • R&D Tax Credit Support 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
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
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
Pennybooks has given us the personalised financial support necessary to be able to grow our business with confidence
Rosanna Wollenberg – Director
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