Malling & Co.

Why did Malling & Co. need to create efficient processes with fewer systems?

After going live with Xledger NO, Martin shared how Malling & Co. defined its requirements for a new finance system:  

“We were actually looking for an all-in-one management system aimed at real estate. We quickly saw that this was not possible, so we chose to connect several best-of-breed systems instead. Then the choice fell on Xledger as the best financial system.” 

Malling & Co.’s finance department had previously used multiple different disconnected systems to handle timesheets, invoicing workflows, and other financial management tasks. Due to inadequate integrations, finance had to rely on excessive manual workarounds to simply complete daily accounting activities. 

As the business continued to grow, Martin explained that the team needed to “simplify and streamline the way we work.” As a result, Malling & Co.’s project team started a process to find a complete management system. “After a period of mapping, we concluded that the right thing for us was to choose the best systems within each subject area and connect them together.” 

To succeed in setting up a best-of-breed digital ecosystem, Malling & Co. required a system that was able to share data via open API. As a result, the property firm chose Xledger as its financial management system, integrating it with specialist business systems, including: 

• Contract management 
• Technical management 
• Annual accounts 
• Customer Relationship Management (CRM) 

By leveraging a system with an open API, Malling & Co. was able to reduce the number of business systems it relied upon, automating several processes across its newly connected network. Mehus emphasised the fact that, with strong automation and integration, tasks only need to be done once within Xledger for all the systems to update. 

Mehus has high ambitions to create a fully digital real estate ecosystem and feels that Xledger is a natural partner that will help Malling & Co. achieve this ambition. Mehus highlighted three ways that Xledger will support this goal: 

• Always up to date: Malling & Co. can access a real-time view of its financial health, run reports, and analyse data in detail.
• Automated: With Xledger, Malling & Co. has automated key business processes, such as invoice management.
• Connected: Xledger is integrated with contract management, CRM systems, and bank feeds. At the same time, auditors get exactly the information they need at the right time.

The benefits of a complete, cloud-based financial system

 As Malling & Co.’s accounting department grows, Xledger can scale to suit its needs: 

“We look forward to streamlining the processes for accounting and financial management. With Xledger, we get a system where many processes are fully automated, including invoicing. Another big advantage is that time and invoice management is built into the financial system; we don’t need any extra modules. In Xledger, the data is registered only once and is automatically linked to the right customers and projects.” 

Malling & Co. has reduced the number of systems it relies upon, connecting its remaining platforms to streamline daily business processes. Daily tasks are now heavily automated, saving the finance team considerable amounts of time. Mehus outlined the importance of moving to a true-cloud finance system: 

“When we were choosing an accounting system, we saw that Xledger is built with a structure that suits us very well. We work with lots of companies, and it’s essential that updating account charts and working across companies is easy. Furthermore, it’s important to us that the system we choose is a true cloud-based and standardised system as it ensures that we are always up to date with the latest technology and don’t have to think about upgrades. This also contributes to a smooth implementation process. We were able to get started much faster than what is typical with traditional accounting systems.” 

Clear benefits internally, and for customers

One of the most significant outcomes for Malling & Co. is the greater visibility created through its connected finance system. “As managers, we quickly get a complete overview of our total portfolio without spending a lot of time on data extraction,” Mehus said, noticing the change immediately. 

Mehus acknowledged that customer expectations have increased, particularly because they can now access up-to-date financial insights: 

“When customers can go into the system and look at the numbers themselves, they expect us to keep them up-to-date all the time. Fortunately, Xledger makes it so easy to update the accounts that we can now provide this detail to our customers.” 

For Mehus, his focus is now on extracting data-driven insights that inform decision-making: “It’s a bit like switching from a go-kart to a Formula 1 car,” he says. “It’s a lot faster, and places completely new demands on the driver.” 

“With the freed-up time, we can work even more closely with our customers and provide them with added value in the form of more analyses and reports. In addition, we will have increased capacity for new assignments. This is important for our positive growth going forward,” concludes Mehus. 

As Malling & Co. continues to expand its portfolio, Xledger will grow and scale alongside it, empowering its finance team with real-time insights, granular reporting and analysis, and seamless connectivity. 

To learn how Xledger can support your property and real estate organisation, contact our expert consultants.