Silverfin

Larking Gowen Streamlines Accounts Production with Silverfin

Larking Gowen, a 400-employee firm with six offices in Norwich, England, improved efficiency and standardized accounts production by adopting Silverfin’s cloud accounting software, reducing account submission time from 15-30 minutes to 5-10 minutes, streamlining workflows, enhancing real-time staff collaboration, and enabling proactive client data management through integrated tools like digital working papers, AI-powered data quality checks, and the Insights module.

Boosting efficiency with end-to-end connected data

Larking Gowen streamlines Accounts Production with Silverfin, cutting the time to submit a set of accounts from 15-30 minutes to just 5-10.

Location: Norwich, England
Employees: 400
Product used: Silverfin: cloud accounting software for clients

The challenges

As a firm, Larking Gowen were facing a number of challenges. With 6 different offices, there were many different ways of working, which led to inefficiency. Staff spent too much time rekeying data – firstly into the accounts production package and then again into their tax system, for example. The best of breed software packages they were using for accounts and tax production were, as well as being unconnected, overkill for the majority of their typical SME client’s needs.

The Solution

Larking Gowen turned to Silverfin to streamline their compliance, using the accounts production package combined with digital working papers. They’re also trialling Corporation Tax and Silverfin Assistant, the AI-powered tool for data quality checking.

Where have they seen benefits?

  • Faster accounts submission process: Despite initial concerns from the team that Silverfin was another new tool for them to use, they’ve quickly seen the benefits. Reducing the time it takes to submit a set of accounts from 15-30 mins, with their previous package, to 5 to 10 minutes at most.

  • Standardisation across offices: Now that everyone follows the same best practice workflow, they can ensure there is one Larking Gowen way of preparing a set of accounts, resulting in higher quality service delivery.

  • Simplified communication: Thanks to the integrated messaging within the Silverfin platform, staff are able to collaborate in real-time, making sure files can be reviewed more quickly and accurately.

  • Proactive client management: With Silverfin’s Insights module, the team is able to automate the querying of their client data holistically. This means portfolio holders get proactive notifications of points of interest within a file, so they can reach out to clients with valuable advice or preempt any issues.