Noone Casey
CaseWare Helps Keep Noone Casey On Top
Noone Casey is one of Dublin's most talented, forward-thinking professional accounting firms, specialising in assisting technology and entertainment companies, including start-ups and those seeking venture capital funding. Because the majority of its clients are technologically savvy, Noone Casey has made it its mission to adopt proven, innovative products and practices that enable it to deliver the general and specialised services its clients demand. CaseWare Accounts Production and Paperless Audit solutions fit brilliantly into Noone Casey's mission.
Invest in Technology
"We were using our former system for accounts production, but it had no audit function," recalls Anthony Casey, FCA, a principal at Noone Casey. "We adopted CaseWare in 2009 as part of significant effort to improve our firm's technology. While we were always commercially accurate, we relied too heavily on manual processes. By eliminating those manual processes, CaseWare enables us to put more of our time and talent into helping our clients grow their businesses."
Before committing to CaseWare, Casey says he spoke with several users of the solution, including some of the largest firms in the UK. "The advantages delivered by CaseWare were clear in their recommendations," he says. "Many had been experiencing the same issues we were experiencing, issues that were resolved with the use of CaseWare." The firm took a methodical approach to the implementation of CaseWare, seeking input from its entire staff in indentifying what problems they saw in the current system, and then tasking the consultants at CaseWare with finding ways to address those problems with the software. "We went so far as to recreate several paper files in CaseWare and then compared and contrasted the two," Casey says. "That proved very beneficial and it clearly underlined the advantages of the new system."
20% Time Savings
The company has analysed the time savings attributed to its move to CaseWare, and it is significant and growing. "In year two we saw a 10% reduction in the time it takes to prepare clients' accounts and audits and in year three we are on track to see an overall 20% reduction," says Casey. Many of Noone Casey's clients are franchise operations, with multiple independent companies operating under the main company's umbrella. Casey says that the use of CaseWare has dramatically streamlined the firm's approach to preparing these clients' audits: "Many of these clients have 40 or 50 sub-companies. With CaseWare, we can identify the audit risks on a group basis rather than individually. The ability to perform this group risk assessment results in significant time savings for us and for our clients."
A Competitive Advantage
The XBRL reporting standards are not yet required in Ireland, but will be within a few years. The fact that CaseWare is already iXBRL compliant is of tremendous benefit to Noone Casey. "It is another way that CaseWare gives us a competitive advantage," Casey says. "We are ahead of the game and our clients appreciate that." Noone Casey and its clients have noticed that the presentation quality of the financial statements the firm prepares is better with CaseWare. "The look is superior to those produced in our former system,"Casey says. "The professional appearance helps position us as a go-ahead firm - a notch above the rest."
CaseWare is proving to be a highly cost-effective solution as well. The purchase price and annual maintenance fees are reasonable, Casey says, especially given the value it delivers. "It is not overly expensive," he says. "And the commitment to Noone Casey from the CaseWare team is impressive. They are clearly keen for us to succeed with the solution."
While obviously less important than technical proficiency and accurancy, client perceptions are important and CaseWare is helping in that aspect as well. "We used to walk into a young IT start-up company with a stack of paper under our arms," smiles Casey. "Whilst our work was accurate and complete, there may have been a perception that we were not embracing technology. Now, we walk in with a laptop and have instant access to everything those paper files contained and more."
Efficiency & Proficiency
The efficiency of the audit process has also improved. "The key issue in auditing is identifying the significant audit risks. We were not focussed enough on assessing and addressing those risks. As a result we often over-audited," says Casey. "Now, CaseWare greatly facilitates our risk analysis and assists us in appropriately addressing those risks." CaseWare is of particular value in a busy practice like Noone Casey. "We all work hard and CaseWare ensures that we do not overlook anything of importance," notes Casey. "With CaseWare we know that our work will stand up to the most rigid inspection."
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