Shopbox AI

Outsourced Finance Function Service Provider.

The Client

Shopbox AI are a multi-award winning retail technology company providing an ai-powered personalisation platform rooted in consumer behaviour and shopping psychology. Their platform focusses on adapting the store and experience based on the interests and behaviours of site visitors, not pre-coded offerings, increases customer satisfaction, conversion rates, retention and revenue. Shopbox AI realised the need for a reliable and efficient financial management system that could free up their resources to focus on core business activities. This led them to seek an outsourced finance function service provider.

Services Provided by Fitzgerald Power

Monthly Bookkeeping Tasks: This includes bank reconciliations, cash reconciliations, and creditor and debtor reconciliations. We ensure all financial records are up-to-date and accurate, enabling better financial decision-making.
Supplier Payments Files: Fitzgerald Power took the responsibility of creating and managing supplier payments files. This not only saved time but also ensured accuracy in supplier payments.
Monthly Management Accounts: One of the key services offered was the preparation of monthly management accounts. These monthly reports allowed for better financial planning and decision-making.
VAT Calculation and Submissions: Accurate and timely VAT calculations and submissions to avoid penalties.
Weekly Payroll Runs: Weekly payroll processing, including revenue submissions and payment processing to employees, is managed by Fitzgerald Power.

Outcome

The collaboration between Fitzgerald Power and Shopbox AI led to numerous benefits, including:

Improved financial efficiency and accuracy.
Enhanced financial reporting, leading to better decision-making.
Cost savings through reduced in-house financial management expenses.
Timely and accurate supplier payments, preserving supplier relationships.
Compliance with tax regulations and payroll requirements.
The outsourced finance function service provided by Fitzgerald Power not only met but exceeded the expectations of Shopbox AI, resulting in a long-term partnership that continues to thrive.

“

As a growing business, our needs are changing nearly from month to month. Before working with Fitzgerald Power this was a real challenge which consumed a lot of time from the management team. Fitzgerald Power has really changed everything for us. They first spent time understanding the business and our needs. They then created simple approaches to help us run the business more effectively – no one-size-fits-all, but properly tailored to the business. The team is always extremely responsive and feels like they are part of the company more than a service provider. For example, we recently needed to make changes to one aspect of our reporting which required the team from Fitzgerald Power to change how they were working with us. The answer was a simple Yes, with suggestions on the best way to make it work well. A week later the changes had been agreed and a week later, implemented. We have not seen that level of understanding of our business or positive engagement from any other supplier.