Why Panagora outsources its entire financial departement to Accountor
Outsource your financial department. Moon-Suck Song, CEO of Panagora Room, has never needed an in-house finance department - he has outsourced 100% of it to Accountor with full confidence. As he describes it, he has put the company's entire financial administration in Accountor's hands. The fact that the partnership has been running for over ten years is proof that it really works!
Panagora Room is a medium-sized digital agency that focuses on e-commerce. They work with Scandinavian entrepreneurs who are niche in life science and B2C consumer goods such as fashion, beauty, and interior design and have built over ten of the largest e-commerce stores in Sweden. Moon-Suck Song says that the agency likes to grow together with entrepreneurs and growth companies and that this is also one of the reasons why they chose Accountor.
"I see Accountor as an entrepreneur who has grown and really managed to create a good whole consisting of good people and effective tools," says Moon-Suck Song.
Outsourced the entire financial department in 2010
It was 2010 when Panagora went out to tender for the closure of their then small finance department. The choice fell on Accountor because they provided all the services and systems Panagora needed to be able to outsource their entire finances, such as Fortnox. At the same time, Accountor is an agency that is personally independent - which was exactly what Moon-Suck was looking for as it was something he lacked with the company's previous supplier.
"There is a sense of security in that if one person leaves, we know that someone else equally knowledgeable can take over," says Moon-Suck Song. "The fact that Accountor has always felt so stable means a lot to us."
Effective collaboration developed over the years
Since the start of the collaboration, Accountor has been trusted to act as Panagora's entire finance department. Over the years, Accountor has developed both its own expertise and the systems they work with to constantly streamline the work. Today, Accountor handles accounting, project accounting, invoices, salaries, and financial statements for Panagora - everything that needs to be done on a monthly and annual basis.
"We have gone from Fortnox to now working with our supplier invoices in Palette. We have an app for scanning receipts and a login to a portal where we see all monthly reports. Everything that could be streamlined and improved has been implemented by Accountor over the years," explains Moon-Suck Song.
Appreciated flexibility and willingness
Moon-Suck Song says that he appreciates that Accountor is so flexible and secure. There is a common drive and willingness to constantly solve the problems that may arise and Panagora has daily contact with Accountor. With a twinkle in his eye, Moon-Suck Song also says that they are probably not the easiest customer to work with and that he is therefore very grateful for Accountor's accommodating approach.
"I get so much good help that I absolutely could not do without. But our cooperation with Accountor is not only business-critical - it is actually very pleasant too!" Moon-Suck Song concludes.
