Madison Go Live with X3CloudDocs
How the UK's leading cycle part distributor eradicated financial inefficiencies surrounding traceability, workload, and speed through X3CloudDocs
Madison started back in 1977 as a small bike shop based in North West London. It is now the UK’s leading distributor of cycle parts and accessories, as well as one of the fastest growing players in the motocross and freesports equipment market. As a business Madison is committed to delivering excellence for the globally recognised brands it represents, its loyal network of specialist retailers, and for its discerning consumers.
Madison have been using Sage X3 since 2012 with Mysoft as their support partner. Madison’s Finance department recently invested in a digital transformation project after identifying a number of inefficiencies.
“One of the biggest factors for me was the integration. X3CloudDocs proved to link better with Sage X3 than any other software. There is no need for any bridging software to allow it to work and this gave me much more confidence in Mysoft and X3CloudDocs compared to competitors.”
Andrew Carter-Gates, Management Accountant and X3CloudDocs Project Manager, joined Madison in 2019. One of Andrew’s primary responsibilities is Accounts Payable (AP). Something that immediately struck Andrew when he joined the business was the amount of paperwork that the Finance team handled, printing the majority of the documentation when it came to AP invoicing. Andrew says one of the key things he wanted to achieve from an “environmental, ease, accuracy and processing point of view was to take things digital.”
Due to the large amount of physical paperwork circulating round the business, traceability was a challenge. Madison’s own warehouse has been storing the archives which meant that important documentation was being transferred between multiple departments which increased the risk of loss or damage, and made it difficult and time consuming to dig out specific files once they had been stored.
Another challenge that had been identified was the inconsistent workload within Andrew’s team which is dictated by the natural peaks and troughs of overheads and stock. Ultimately this presented an issue around personnel where there was too much work for one person, but not enough for two.
Andrew comments, “we didn’t feel pressure from the surrounding environment but we were aware that others [businesses] were using this technology effectively so we began to wonder, why can’t we?” Having only one employee performing AP invoice processing meant that Madison risked falling behind on processing invoices and therefore paying invoices too during high volume periods. Andrew had tried all options when it came to staffing so the next option was to implement a digital solution.
While looking for the right product, Andrew considered a number of other options, including SAP Concur, however X3CloudDocs was functionally rich enough to meet Andrew’s requirements and crucially was also priced more competitively. X3ClouddDocs was selected as Andrew’s weapon of choice, “One of the biggest factors for me was the integration. X3CloudDocs proved to link better with Sage X3 than any other software. There is no need for any bridging software to allow it to work and this gave me much more confidence in Mysoft and X3CloudDocs compared to competitors.”
Andrew told us that SAP Concur had far too many features for what the department were trying to achieve. X3CloudDocs ticked all the boxes and delivered simplicity as they needed it.
At the time of implementation X3CloudDocs had just been launched and as Madison is such a sophisticated business there were some scenarios and hurdles to overcome but Andrew comments, “it’s fair to say that Mysoft overcame everything we threw at them. Any changes we wanted were dealt with in a very timely way.”
Andrew highly commended the team for the smooth implementation process, he remarks, “both Paul and Brian have excellent knowledge of the product. I dealt directly with Paul throughout the process and he was just fantastic!”
The solution was received very well internally, meeting stakeholder expectations and delivering immediate value. “When the directors were told that the solution was coming in, they were all very excited to see it. All 31 users have received it well and not one person has said anything bad about X3CloudDocs which for me, is a win,” Andrew describes.
Jane, Accounts Processor at Madison, loves the solution. She told Andrew directly that “it’s so easy to use and it’s so much quicker!”
Before X3CloudDocs was implemented in the business, a user was averaging 500 invoices processed per month. Now X3CloudDocs is being used, the same user is averaging 750 invoices per month seeing a 50% increase in the number of invoices, both stock and overheads, being processed.
Within the initial month of use, Andrew has seen a 25% decrease in the amount of time that users spent approving information due to X3CloudDocs’ impressive learning capabilities. The finance team have also seen a 75% decrease in the amount of time spent processing invoices because X3CloudDocs has replaced such a large amount of their manual labour tasks.
Since using the solution, Accounts Processor, Jane, is no longer spending her working hours catching up with any backlog. Instead, she is now able to address the invoices that are being received that day, giving her more time to take on larger projects within the business and focus on progress in other areas.
Another key benefit for the team has been staff cover. Madison’s Finance team is lean and therefore each employee has their own set of responsibilities. This subsequently means that when one member of the team is away, others members of the department must pick up the responsibilities they are not so well-versed in. Having access to an intelligent and intuitive solution enables other team members to easily pick up responsibilities surrounding AP invoice processing as X3CloudDocs can carry out up to 90% of the work for them.
Andrew has been sold on one thing in particular since day one. The user interface. “It’s so simple to use that anyone can pick it up and do it. You need minimal training to understand it. Paul showed us what to do but it was so intuitive that you could tell what he was going to click next,” Andrew explains.
Additionally, the other element that Andrew has been most impressed with is the approval process which has been configured specifically for Madison. The Accounts Processor no longer needs to spend her time chasing approvals. Instead, the system takes care of this and once invoices are authorised, they go straight into Sage X3 without any more attention needed allowing Jane to focus on anomalies rather than the ‘everyday’ invoices.
These are just the first of many gains expected, as levels of automations and confidence in the solution increase. X3CloudDocs has enabled Madison to seamlessly transition to a fully digital AP invoice process which, in turn, has eradicated their inefficiencies surrounding traceability, workload, and speed.