We recently caught up with Anthony Woodings, Business Services Partner at Hurst Accountants to get some insights into why they adopted the Inflo platform and their experience of using it to date.
Being conscious of the developments coming to the profession, most specifically data analytics, Hurst were behind the curve and felt it was the right time to start their digital transformation journey. On a three-year quest to find a solution to fit their needs, Hurst implemented Inflo in 2020.
The search for a new solution is on
In terms of pure corporate audits, Hurst are the biggest independent firm in the North West. With their client base shifting to more corporate clients, likes of which would typically use one of the Big 4 firms, Hurst felt their capabilities came up short.
The search was on.
After seeing a firm pick up an award which recognised their innovation in data analytics using Inflo at the British Accountancy Awards in 2019, Anthony reached out them to understand more about Inflo. Later hearing how they are working as a firm and how it was adding value to client services, he recognised the potential and reach that Inflo had. Hurst subsequently reached out to Inflo, a trial period commenced and training for Hurst employees began – the rest as they say is… history!
Creating genuine value
Having a young and eager audit team, with individuals either in training or being newly qualified, Hurst was confident that Inflo would be well adapted and used extensively for their audits going forward. Having had the training by Inflo and the support of Inflo’s customer team behind them, all members of staff at Hurst utilised the system and were comfortable in setting up engagements, using it as a more efficient way of working with clients and getting data ingested.
“Inflo have been great in terms of the support that they’ve been able to give us. Paul and the data ingestion team helped us find a way through everything.”
By adopting Inflo modules into its audit processes – i.e., Inflo Collaborate and Inflo Ingest – Hurst believes that Inflo has created genuine value for its clients.
Inflo’s Collaborate module for example, has transformed Hurst’s processes and keeps all their client information in one central hub. Because of the structure of the Inflo platform, it has made both the audit team and client accountable to each other with a constant monitor on the progress of the audit. The client has visibility of the progress of their own team for each request whilst having real time updates on the progress of the audit.
“Moving from a state of having no effective portal, our audit approach is not just more effective with Inflo, but transparent too.”
Inflo Ingest on the other hand has significantly assisted in data acquisition – a game changer, with the process of sifting through Excel spreadsheets becoming a thing of the past. Inflo Ingest obtains data perfectly from a variety of accounting systems, allowing the client to upload their trial balance and general ledger data, giving Hurst the ability to process it and put it into a standardised format.