Client Background
A rapidly growing retail chain in the UAE operating multiple outlets. The finance team managed accounting manually using spreadsheets and standalone tools, which made it difficult to consolidate data across branches and ensure VAT compliance.
Challenges
- Decentralized Financial Data: Each branch maintained its own records, causing delays in month-end consolidation.
- Manual Invoicing: High volume of invoices processed manually, increasing the risk of errors.
- VAT Compliance Issues: Difficulty in preparing VAT returns in line with UAE tax laws.
- Delayed Financial Reporting: Management reports took weeks to compile, hindering strategic decisions.
- Poor Integration with Sales & Inventory: Accounting was disconnected from day-to-day operations.
TraceNcode Solution
TraceNcode implemented Odoo Accounting & Finance, ensuring automation, compliance, and integration across all retail outlets.
Key Implementations:
- Centralized Accounting: Unified system across branches, consolidating real-time financial data.
- Automated Invoicing: Integrated with Odoo Sales & POS for seamless invoice generation.
- VAT & Tax Localization: Configured UAE VAT rules with automated return generation.
- Bank Reconciliation: Automated reconciliation with bank feeds for faster month-end closing.
- Expense Management: Introduced digital expense submission and approval workflows.
- Financial Dashboards: Custom dashboards for real-time insights into P&L, balance sheets, and cash flow.
Results & Impact
- Reduced month-end closing time from 15 days to 5 days.
- Cut invoice processing time by 60% with automation.
- Achieved 100% VAT compliance with error-free reporting.
- Increased financial visibility across branches, enabling faster decision-making.
- Finance team productivity improved by 30%, allowing them to focus on strategy instead of data entry.
Client Testimonial
"Thanks to TraceNcode’s Odoo Accounting solution, our financial processes are finally streamlined. VAT compliance is no longer a headache, and we can now see our group’s financial health in real time. It has transformed how our finance team operates."
— CFO, Retail Chain, UAE
