Case Study: MBM Commercial LLP

MBM Commercial LLP was the Cashroom’s first client in 2008.

Sandy Finlayson, Co-Founder of MBM writes:

“When the opportunity first arose for us to acquire our business from its former parent about eight years ago we had the opportunity to design a completely new law firm from scratch, quite literally with a blank sheet of paper. From the outset we recognised that:-

• We must have a very niche service offering;
• We must have strict financial controls and disciplines;
• We should invest only in lawyers and direct support staff; and
• We should if possible avoid all of the costs associated with a cashroom, IT support team and other support functions.

We enjoyed, and continue to enjoy a very good relationship with our former parent firm who were good enough to supply us with outsourced HR and marketing services. However, our real breakthrough came from discussions between David Calder, who was the Managing Partner of our emerging new business and Catherine O’Day who ran a small computer support company called Dundas IT. This had in turn been spun out of Springfords who are our accountants.

David and Catherine were able to design a fully integrated service offering comprising an outsourced cashroom, which at the time was a ground breaking new initiative in a legal profession, a full finance function and IT support.

Dundas IT was then acquired by a larger company and, to her eternal credit, Catherine recognised the opportunity to set up www.thecashroom.co.uk as a separate business, initially to service the requirements of this firm which was its launch customer. This has enabled us to enjoy a seamless and uninterrupted cashroom service since we launched our business over seven years ago, together with very high quality financial information. Since the outset we have operated with a five year financial plan which is updated annually and this has proved to be absolutely invaluable over the past five years of financial turmoil.

We enjoy an outstanding level of service from The Cashroom, we have no staffing issues to worry about, the service is provided at a very competitive rate and, to paraphrase the Honda advertisement – “it just works!” I cannot ask for much more than that.”