Bunzl Safety is a leading global organisation focused on delivering value through simplifying the purchasing, supplying and delivering of business consumables products. The company’s diverse portfolio includes safety workwear, footwear, material handling equipment, and PPE, serving major clients and government agencies. With more than 12 years of expertise, Fadia Chidiac serves as the Finance Director, guiding financial operations across the business.
The challenge for Bunzl Safety
Bunzl Safety faced a significant challenge with the introduction of IFRS 16 accounting standards.
Fadia recalls, "When IFRS 16 came out, the accounting team from the UK head office sent out an Excel spreadsheet to comply with IFRS 16."
The main challenge was that only one team member knew that spreadsheet intimately. This reliance on a single individual posed a significant risk for Bunzl Safety, particularly given the company's aggressive expansion plans both in Australia and globally.
Fadia remarks, "With such a critical process dependent on one person, our ability to adapt and grow could be compromised."
The streamlined solution
Upon recognising the requirement to mitigate risks and streamline lease accounting processes, Fadia reached out to Nomos One, recommended by their account manager at Pronto Software.
The professionalism and ease of navigation stood out during the demo.
Fadia adds, "We felt confident that Nomos One could deliver what we needed, and their commitment to understanding our requirements was reassuring."
She further emphasises, "It was the quality of the people that were presenting at the demo and the comfort we felt knowing that you understand very well what you're talking about."
Fadia underscores, "We developed a great relationship and felt at ease knowing that you'll make it work or you'll work with us to make it work."
Fadia also highlights, "The same people were on the project from start to end, attended every meeting, and were very flexible and understanding."
She adds, "We felt comfortable from the beginning that you could deliver what we were looking for and didn't promise anything that we thought wasn't achievable."
Impressive and reliable outcomes
Following the implementation of Nomos One, Bunzl experienced both a reduction in risk and notable time savings.
Fadia remarks, "It's all working well. There are now other members of the accounting team that have access to the software. So, the risk of only one person holding the information is no longer there."
She adds, "It's user-friendly, it's easy to access, and easy to understand."
Fadia further emphasises the exceptional support behind the software, stating, “The quality of the Nomos One accounting team, and their expertise and accounting knowledge are of the highest standard. They are clever accountants that really do understand what they are talking about, and that makes it so much easier when you're working with business financial controllers.”
