Zenbooks Case Study: The Canadian Society of Respiratory Therapists (CSRT)
A Bold Strategic Leap
How Moving To Cloud-Based Accounting Helped the CSRT Breathe Easier
The Canadian Society of Respiratory Therapists (CSRT) is the national professional association for respiratory therapists. Founded in 1964 as the Canadian Society of Inhalation Therapy Technicians, the CSRT is dedicated to excellence in cardiorespiratory care. Serving a robust membership of over 4400 RTs, this growth-oriented Non-Profit Organization (NPO) recognized the opportunity to adopt new technologies to enhance productivity and service to its members.
In 2018, the CSRT engaged Zenbooks to partner on a full review of their previous financial processes and to update them to better reflect the organization’s medium-term goal of adopting a lean, resource sensitive operational infrastructure that supports a modern and mobile work environment. They underwent significant operational transformation over a 12-month period and came out strong.
Supported by a renewed financial services system, the CSRT now offers enhanced value to their members as a nimble, more impactful organization, using best-in-class, money-saving cloud-based accounting tools.
Dr. Andrew West
Chief Executive Officer, Canadian Society of Respitory Therapists
It truly takes a thought leading association to make such a bold strategic leap towards modernizing and transforming how it operates. Thank you to the CSRT staff and members, who have all been integral and supportive as a team working together to achieve this important transition efficiently and effectively.
ZENBOOKS CASE STUDY: THE CANADIAN SOCIETY OF RESPIRATORY THERAPISTS (CSRT)
REQUIREMENTS & SOLUTIONS
The power of Zenbooks best-in-class, money-saving cloud-based accounting tools.
1. Evaluating old processes before Implementing new
An initial systems audit led Zenbooks to better understand the daily tasks, identifying recurring tasks performed. This led to an important change - migration from QuickBooks Desktop to an improved cloud-based platform (Xero), which would integrate payments, approvals and receipts so there would be no duplicating work!
2. Reducing and eliminating paper wherever possible
How to streamline paper bills and paper receipts? Zenbooks evaluated various platforms and found that a combination of HubDoc and ReceiptBank was the best solution for CSRT. HubDoc would allow all recurring bills to be retrieved directly from the supplier and ReceiptBank allowed us to properly implement a structured approval process that met the needs of the auditors and rigid requirements of non-profit financial controls.
3. Flexibility for all team members to access all necessary documentation from anywhere
Zenbooks implemented a customized combination of platforms to ensure that all the cheques, invoices approvals, communications and reimbursements were able to be done without a single physical piece of paper. We recommended a combination of Plooto, ReceiptBank, HubDoc, ApprovalMax and emails to gather, process and archive the information. This also meant communicating with suppliers to tell them to stop sending snail mail!
4. Updated and easier approval process
Zenbooks recommended a combination of ReceiptBank and ApprovalMax. Submissions from ReceiptBank are flowed to ApprovalMax, where the appropriate internal staff can easily approve expenses or reject with commentary. This means no physical papers are needed and a fool proof audit trail is available on every single expense. Once approved in ApprovalMax, it is automatically posted to Accounts Payable and ready to be paid directly with Plooto.
5. Improved and trackable payment process
Zenbooks implemented a customized combination of platforms to ensure that all the cheques, invoices approvals, communications and reimbursements were able to be done without a single physical piece of paper. We recommended a combination of Plooto, ReceiptBank, HubDoc, ApprovalMax and emails to gather, process and archive the information. This also meant communicating with suppliers to tell them to stop sending snail mail!
6. Full-time accounting assistance without the cost.
Zenbooks recommended Plooto to help process payments to suppliers. Integrated directly with the Xero Platform. This allows the Zenbooks team to electronically approve payments before the other signing authority, no paper needed. It tracks the history of all payments to each supplier and their related invoices to be paid, as well as the approval audit trail.
7. Innovating membership management software
Zenbooks supported the financial implications of the migration to Member365 to better service members’ needs. Member365 is a cloud based membership management platform.
8. Restructuring and simplifying the receivables process
Zen books recommended that CSRT reduce the number of ways they accept money. They were receiving payments from members, sponsors and stakeholders through cheques, Stripe, PayPal, RBC Express (Pre-authorized Payment), BusinessTrack, and E-transfers making reconciliations onerous, time intensive and, at times, confusing to manage. We narrowed down the receivables to Stripe and RBC Express(Pre-Authorized Payments) eliminating the pain-staking process of accepting, depositing and reconciling cheques. No more payments getting lost in the slew of payment options.
9. Improved volunteer/speaker reimbursement
Zenbooks initiated a new process in which reimbursement forms are submitted directly to ReceiptBank and archived electronically, allowing us to review, process and submit for approval all reimbursements to be paid through Plooto.
10. Eliminating invoicing bottlenecks
Zenbooks created restricted user access for operational employees to issue their own invoices to sponsors and members. This avoids the finance group being a bottleneck and allows for a smooth, clear and efficient process for sponsors and members to get invoiced and pay fast!
ZENBOOKS CASE STUDY: THE CANADIAN SOCIETY OF RESPIRATORY THERAPISTS (CSRT)
RESULTS
- Best-in-class cloud-based accounting tools now being used.
- Customized combinations to suit CRST’s specific needs.
- Clear documentation of all financial processes.
- Significant reduction in amount of paper-based processes and storage needs in the CSRT office.
- A multi-layered, flexible Finance Department that effectively works with CRST staff.
- No need to go to the bank to deposit cheques. It now just gets deposited in the bank automatically.
- No need to print, sign, courier for second signature and mail out cheques to suppliers. Just click to approve.
- CEO can seamlessly work from any location via a mobile technology supported financial system.
- A clear audit-proof audit trail of approvals for expenses and payments.
- Accounting support increased 5 days per week instead of only 3 days per week.
- Members and sponsors now have simplified financial interface with the CSRT.
- Members and sponsors to gather loyalty point on their credit cards and extend their payment terms.
- No more lost payments, no more NSF charges.
- Hundreds of reimbursement forms per year are now all electronic (Each of which no longer need a cheque).
- A quick, streamlined invoicing process, so sponsors get billed fast and efficiently.