Client Area

Developing East Arnhem Ltd

To reduce the pressure on their small team, DEAL engaged Carbon for their payroll management and financial obligations

About Developing East Arnhem Ltd. (DEAL)

Developing East Arnhem Limited (DEAL) is an independent not-for-profit company with an experienced Board of Directors. DEAL was established in November 2014, in response to Rio Tinto’s decision to curtail production at the Gove alumina refinery. DEAL leads collaboration across the East Arnhem region, as trusted partners to businesses, governments and traditional owners.
DEAL focuses on five key activities in its work:
  • Leadership: working with partners, DEAL drives and coordinates economic development planning, as well as advocating for East Arnhem and gathering evidence to guide development
  • Industry development and attraction: DEAL leads planning and coordinated action to support industries and acts as a front door for investors
  • Housing: as part of DEAL’s establishment, Rio Tinto provided DEAL with 250 properties to support economic development in East Arnhem. DEAL manages these housing assets in Nhulunbuy to support ongoing economic and business growth.
  • Capital: DEAL invests in businesses through its Economic Development Fund, and in critical enabling infrastructure in partnership with government and other funders
  • Business support: DEAL supports businesses to access information, networks, services and funds, and supports microenterprise development in the East Arnhem region through its partnership with Many Rivers. 

Scenario:

The processing of DEAL's invoices, investment and financial record management and reconciliation of their bank accounts was previously jointly managed by the executive assistant and the CEO; a lot of additional and unnecessary pressure on a small team. Carbon were initially engaged as DEAL’s payroll specialists. DEAL also engaged Carbon Accounting for the preparation of fringe benefits tax return. In February 2018, DEAL upgraded their package to also include the diamond bookkeeping package to improve the management of their invoice processing and recording.

Being a not-for-profit, DEAL’s financial requirements are complex and managing those themselves was diverting resources from their core business.

Solution:

  • DEAL's invoice processing time and accuracy has greatly improved – estimate 70% improvement
  • DEAL's record keeping accuracy has greatly improved – estimate 50% improvement
  • The admin time spent on processing invoices has greatly reduced
  • DEAL's financial management reports are always produced accurately and provided on time

Quotes:

  • "Our financial management reports are always produced accurately and provided on time. Thanks Carbon!”
  • "The previous system we were utilising detracted from our core business, taking a long time to process each week. There was also a greater margin for errors to occur."
  • “Making the decision to engage Carbon as our payroll managers/specialists and then upgrade to the diamond bookkeeping package has significantly increased DEAL’s capacity to focus on our core business. Aimie and Bridie always go above and beyond to assist our organisation and with their expertise, we are confident that we are accurately meeting our financial obligations.”
"Our financial management reports are always produced accurately and provided on time. Thanks Carbon!"
 
"The previous system we were utilising detracted from our core business, taking a long time to process each week. There was also a greater margin for errors to occur."
 
Making the decision to engage Carbon as our payroll managers/specialists and then upgrade to the diamond bookkeeping package has significantly increased DEAL’s capacity to focus on our core business. Aimie and Bridie always go above and beyond to assist our organisation and with their expertise, we are confident that we are accurately meeting our financial obligations.

 
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