Lalor O’Shea Automates Invoice Processing with Twinfield

London - 27 June 2012

Accounting firm Lalor O’Shea integrates invoice scanning software with Twinfield online accounting system to reduce paper trail and streamline processes

Irish Chartered Accounting firm, Lalor O’Shea, has gone live with new invoice scanning software from Twinfield, a Wolters Kluwer business, www.twinfield.co.uk, as part of the organisation’s drive to automate core business processes and increase efficiency. The invoice scanning software is fully integrated with Lalor O’Shea’s Twinfield online accounting system and enables the company to benefit from a reduction in the amount of physical invoices that have to be processed, meaning staff have more time to focus on value-add tasks such as client interaction and consultancy services.

Priding itself as a forward-thinking organisation, Lalor O’Shea was the first accounting practice in Ireland to embrace cloud computing and it has been working with Twinfield since 2004. With 170 clients now operating on Twinfield, Lalor O’Shea is able to provide its clients with a range of real-time services, from cash flow forecasts to tax planning, which bear no resemblance to the traditional annual accounts provision services of many accounting practices. Furthermore, by now having the ability to scan invoices automatically into the Twinfield system Lalor O’Shea can eliminate manual re-keying of data and reduce operating costs, while also providing clients with much faster insight into business performance.

Gareth Keogh, Director at Lalor O’Shea, explains, “We have been using Twinfield for eight years now and during this time the system has allowed us to enhance the depth and range of services we provide to clients, ultimately helping us to improve client retention levels and grow our business. Twinfield has enabled us to realise our vision of being able to provide clients with real-time accounting information all year-round rather than just annually so that they are able to make better informed business decisions.”

Keogh continues, “We continually look for new, innovative ways to provide our clients with better service and faster access to the information they need to run their businesses. By automating invoice processing we will be able to drastically reduce the time spent on manual data entry, freeing up the time of our staff to focus on consulting services and added value tasks, while giving our clients even greater insight into operational performance at any time, and from any location.”

Another major benefit of the Twinfield system is that Lalor O’Shea is able to download bank statements directly into Twinfield from two of the main banks in Ireland, which makes the bank reconciliation process much quicker and easier. Keogh concludes, “Twinfield is a forward-thinking organisation that is helping to transform the accounting profession by allowing accounting practices to do things differently. The software is very user-friendly, scalable and secure and it is now a cornerstone of our business model and service offering to clients.”

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