Recently, we had the opportunity to speak with Matthew Connelly, Head of Finance at TBI Health, a rapidly growing healthcare provider in New Zealand. As the company scaled, managing an increasingly complex lease portfolio became a significant challenge. Matthew shared with us how TBI Health recently implemented Nomos One to bring greater structure, efficiency, and confidence to their lease management and accounting processes.
Could you briefly tell us about yourself and your role?
I’m the Head of Finance at TBI Health. I have a varied background in finance, having worked in the UK, US, Australia, and New Zealand. Since leaving the UK, I’ve held CFO roles across several organisations, which has given me valuable insight into the different systems and platforms businesses use for financial management. At TBI Health, I manage a team of five covering all core accounting functions, including accounts payable, receivable, and assistant accountants.
TBI Health has grown from a small business to a large enterprise very quickly, and as we continued to expand, we found that our systems needed to evolve to support this growth. One of the key areas that needed improvement was how we managed leases and financial reporting associated with them.
What was going on at your company that sent you looking for a solution like Nomos One?
Growth was at the heart of it. Like many small or medium businesses, when we started out, we relied heavily on key individuals managing processes informally. Our CEO was personally overseeing lease agreements and landlord relationships, which meant that much of this critical information was held in his head rather than in a structured system.
We lacked a repository where all lease information could be accessed in one place. There was no formal process, and a lot of details were stored informally—sometimes just verbal agreements. As the company expanded and our audit processes became more extensive and intrusive, it became clear that we needed a structured approach. The auditors required formal, detailed lease documentation that we either didn’t have or struggled to find. This created a lack of confidence at both the board level and among landlords. Without proper records, it appeared that we weren’t in control of our lease obligations.
There was also a significant amount of time wasted manually gathering lease information. This lack of efficiency was impacting our financial reporting and decision-making. We needed a real, long-term solution rather than a makeshift one.
Before you landed on our solution, how did you try to solve the problem?
Initially, we tried to manage our leases using spreadsheets. While accountants love spreadsheets and they are a natural go-to tool, they are fundamentally a Band-Aid solution that is not sustainable. Maintaining lease records manually was time-consuming and prone to errors. As we grew, it became increasingly clear that we needed a more robust system that could handle our scale and complexity.
What criteria did the new solution need to meet?
The new solution needed to provide confidence and assurance to the board that our lease data was complete, accurate, and auditable. It also had to allow for proactive lease management so that we could anticipate lease renewals rather than being caught off guard. Operational efficiency was another key factor, as we needed to move away from relying on one person’s knowledge and introduce a structured, automated process. Lastly, the solution needed to integrate seamlessly with accounting functions to generate lease-related entries and reports in a streamlined manner.
What were the top three reasons you chose our solution over others?
We chose Nomos One primarily because it came highly recommended by our auditors, who had seen its effectiveness with other clients. Additionally, its presence in industry discussions reassured us of its credibility. I first encountered Nomos One at a webinar on the Chartered Accountants Australia and New Zealand, where I saw firsthand how the platform could address our challenges. Finally, our early conversations with Tash Bull and the wider Nomos One team answered our questions and provided confidence that the system was the right fit for our organisation, both in terms of scale and requirements.
What was the implementation process like?
After initial discussions with the Nomos One team, we moved into the onboarding phase, which lasted around two months. This process included gathering our lease data, migrating it into the system, and training our team to use the platform effectively. The Nomos One team provided structured support throughout, ensuring we were capturing and organising our data correctly. Regular check-ins helped us stay on track, and ongoing assistance ensured that we became comfortable with the system.
What challenges did you hit along the way, and how did Nomos One help?
The biggest challenge was dealing with the lack of structured data. Our lease records were incomplete, scattered, and sometimes undocumented, which made compiling all the necessary details a time-consuming effort. Nomos One provided patient and structured guidance, helping us understand what information was required and how to best compile it. This structured approach ensured that we built a comprehensive and reliable lease database, making the initial data effort worthwhile as it replaced our old spreadsheet-based system permanently.
Can you tell us about how you’re using our solution and how it’s helped?
Currently, we are primarily using Nomos One for lease management and reporting, which has helped us anticipate lease renewals, plan negotiations, and provide structured data to the board. On the accounting side, we are in the early stages of integrating it into our financial processes. Historically, lease adjustments were handled annually at the end of the financial year. With Nomos One, we are transitioning towards a structured approach with monthly or quarterly adjustments, which will improve financial accuracy and audit efficiency in the long run.
What would you consider to be the biggest success of using Nomos One?
The biggest success has been the transformation from a reactive to a proactive approach in lease management. Instead of scrambling to gather lease details when an issue arises, we now have structured reports available months in advance. This has led to improved planning and more strategic decision-making.
What can you do now that you couldn’t do before?
With Nomos One, we can now provide auditors with immediate access to lease data, significantly reducing the time required for audit preparation. We can also confidently report to the board about upcoming lease renewals and negotiations, and we have implemented a structured accounting process for lease adjustments instead of relying on year-end manual calculations.
Where have you seen the biggest impact on your business or workflow?
The impact has been most evident in our audit process, which has become significantly more efficient since implementing Nomos One. Instead of spending weeks manually gathering data, we can now generate reports instantly. This has also improved board confidence, as lease discussions are now proactive rather than last-minute fire drills. Additionally, the structured nature of the system has reduced the amount of time wasted searching for lease data, making our workflow more efficient overall.
What has your personal experience been like working with Nomos One?
It has been a very positive experience. The onboarding process was well-structured, and the support provided was invaluable. The transition to Nomos One has been one of the most impactful improvements in our financial operations.
If you couldn’t use our solution ever again, what would that be like?
It would be a major setback. We would likely revert to inefficient, manual processes, leading to increased workload and reduced confidence in our lease management.
Is there anything else you’d like to share?
In the future, we may look for additional guidance from the team to refine our lease accounting processes further. Overall, implementing Nomos One has been a success, though we still have opportunities to leverage its full potential.
TBI Health’s journey with Nomos One highlights how the right solution can transform a critical but often overlooked business function. By moving from manual, ad-hoc processes to a structured and scalable lease management system, Matthew and his team have gained valuable time, improved audit readiness, and built greater confidence at the board level. While the implementation is still evolving, the foundation is now in place for even greater efficiency and strategic insight moving forward.
