Case study
Client
Outmin
Company size
10-50 employees
Activity
Outsourced accounting
Platform features
Current Accounts
Accounts Payable Module
Compliance Portal
Outmin provides accounting and bookkeeping for SMBs across Ireland and the UK. It was founded in 2020 by Ross Hunt and David Kelleher.
Combining expert support with advanced technology, Outmin provides a wide range of services from accounting to tax compliance. By leveraging AI for routine tasks, they streamline financial operations, giving customers more time to focus on growing their businesses and driving success.
Clients like Kerrigan’s, Sprout, and Mad Egg Group demonstrate Outmin’s ability to deliver modern, efficient financial solutions tailored to the needs of today’s growing businesses.
Outmin’s product features
The Challenge
The increasing complexity of managing multiple customers with the limitations of traditional banking services.
Outmin faced operational challenges in efficiently navigating multiple traditional bank accounts. The complexity of accessing each account using different authentication methods was made more difficult by the need for seamless coordination across a hybrid team.
For example, in the hospitality industry, financial processes are inherently complex due to the management of payroll, supplier payments, bookkeeping and software. Correctly identifying and reconciling payments across multiple venues and groups was an added labour-intensive activity for Outmin.
Part of this challenge raised questions about scalability - adding more staff wasn’t a sustainable solution. They needed to automate the management of client accounts to simplify the process and ensure timely outsourcing tasks, such as payroll and supplier payments.
Outmin’s product features
The Solution
With NoFrixion’s Accounts Payable module, Outmin gained the ability to easily review and manage payroll and supplier payments for their customers.
After speaking with our team, Outmin was most excited about our Accounts Payable module and Compliance Portal, and how this could alleviate their manual processes.
They immediately recognised the benefit for their account managers to be able to login to one platform to access all clients’ accounts without the need for physical authentication devices. Navigating seamlessly between client accounts was a game changer for the Outmin team.
Additionally, an activity log throughout the platform allows Outmin and their clients to see which user performs which task, adding an extra layer of transparency.
Typically, Outmin customers will transfer funds into their NoFrixion accounts from their traditional business bank accounts. Outmin then sets up outgoing payments in the Accounts Payable module, which their customers authorise. Outmin leverages NoFrixion’s custom approval flows to meet each customer’s needs.
By using NoFrixion’s Accounts Payable module, Outmin gained the ability to easily review and manage outgoing payments for their customers, ensuring efficiency even when customers added funds just a few days prior.
This solution significantly improved operational efficiency, allowing Outmin to better serve their growing customer base.
Our Compliance Portal enables Outmin to maintain strong customer relationships and onboard their clients without direct interaction from NoFrixion.
Using our Compliance Portal, Outmin are able to upload the required information and documentation, submit an application form directly to NoFrixion’s Compliance team, and have their customers sent an invite to create an account in less than two days.
Once their customers receive the activation link, they are set as Admin users and provided training by Outmin on how to use the platform and authorise payments (i.e. move funds from their NoFrixion accounts).
David Kelleher
Co-founder & CEO of Outmin
In conclusion
In conclusion, partnering with NoFrixion has transformed Outmin's financial operations, leading to significant improvements in payment management and reconciliation.
Faced with the challenges of managing multiple traditional bank accounts and the complexities of financial operations, Outmin have streamlined their operations and reduced their manual workload.
This partnership has not only saved valuable time but also enhanced their ability to deliver a superior service experience to their growing client base. As Outmin continues to scale, NoFrixion will remain essential in supporting their long-term growth and operational success.