Holckenhavn Castle saves time by streamlining complexity
Holckenhavn Castle is well known for its extraordinary setting for unforgettable events such weddings, conferences and parties. The popular castle, which hosts these exclusive functions is just one of five businesses owned by the Holckenhavn Estate in Nyborg, Denmark. The other businesses are in the agriculture, forestry, hunting and real estate rental industries. The complexity of these diverse businesses requires a financial system that excels in simplicity. This was the main reason that business director Dennis Hou Holck chose Uniconta.
“We are talking about very different businesses that use diverse and detailed measurement parameters. Yet at the same time, we need to maintain the depth of detail required for each of the individual business areas in terms of both finances and operations,” he explains.
Uniconta outdoes the C5 solution we used previously, due to its open and user-friendly system interface, which is just much easier to work with. Downloading bank files has become notably easier, as the system is able to recognize the customers and vendors automatically and suggest which accounts they should be posted to. Creating and reviewing budgets has also been made easier and earned us precious time savings when posting and correcting accounting entries.”
A race against cost
“In our opinion, financial management has largely to do with a race against cost. The castle is just 5,000 of the 20,000 m2 housing that we manage, which includes commercial buildings, rental houses, etc. We usually describe this challenge as the three B’s: building mass, building mass and building mass! Old buildings are expensive to renovate and maintain. We need to keep a constant overview, stay up to date on the details of the business and spend as little time as possible on administration. Every hour we don’t have to spend on financial management and administration, is time we can spend being productive in our business.”
“The fact that Uniconta is able to include electronically scanned documents, means that our daily administration is now much more efficient”. Before the company used Uniconta, the stack of vendor invoices on Dennis Hou Holck’s desk grew incessantly, but now they are quickly processed.
“The vast majority of vendor invoices are now sent to us via our company e-mail, which is directly connected to the system. I might get 25 vendor invoices a day – and I can now process them directly from my phone, regardless of where I am. It’s a big time saving. If I buy something for the business while I am out of the office, I take a photo of the receipt and send it to bookkeeping right there and then. Everything is always under control, and we never need to worry about missing receipts,” he says. Hou Holk is also looking forward to clearing out the many shelves of plastic folders and physical document print outs.
Uniconta’s ability to integrate with other systems, apps and plug-ins was one of the main criteria the company was looking for when they decided to switch system. It was, for example, important to the company that Holckenhavn’s cash registers would be able to integrate directly into Uniconta. And that is precisely what Dennis Hou Holck anticipates being able to achieve very shortly:
“When our waiters create an order in our restaurant on their iPad, for example, we want to be able to send the order into Uniconta there and then, so the transaction is ready to be posted to the company accounts. This will be a key feature in the streamlining of our processes. Directly recording orders in this way is just one of the areas we expect to be able to apply Uniconta’s ability to integrate with other systems,” predicts Dennis Hou Holck.
“For us, the switch to Uniconta is about keeping our tools up to date. Uniconta is a next generation system compared to C5 – and we have been pleasantly surprised by how easy it has been to convert to the new system. We had our concerns, but unnecessary so. With the great help of our reseller, baredata in Svendborg the conversion has been pretty effortless actually.”
Overall, the Hou Holck family’s objective is to pass the estate, which has been in the family for almost 350 years, on to the next generation. This will take a well-disciplined work ethic, plenty of up-keep and a long-term plan. And last, but not least – a good handle on the company’s economy.