Transforming Multi-Entity Finance Operations with Mayday
The ERP Tech Showcase session featuring David Tuck, Co‑Founder & CEO of Mayday, explored how modern finance teams can transform multi-entity operations without migrating to a traditional ERP. Framed around the theme “built to mend month-end,” Tuck demonstrated how Mayday eliminates spreadsheet-heavy manual workflows—such as intercompany reconciliations, recharges, deferred revenue, and prepayments—by reducing them to guided, one‑click processes integrated directly with Xero and QuickBooks Online (QBO).
Positioned as a best‑in‑class component within a lean finance tech stack, Mayday enables Xero/QBO to operate as a multi‑entity platform, achieving ERP‑level outcomes at a fraction of the cost and complexity. Real‑world examples highlighted significant time savings, scalability to large groups, and measurable reductions in finance team effort—making a compelling case for a specialized, modular alternative to monolithic ERP implementations.
Highlights:
- One‑click intercompany balance reconciliations with AI‑assisted matching to pinpoint one‑sided postings and fix discrepancies instantly.
- Rules‑based intercompany recharges that post both sides simultaneously across entities in Xero/QBO—turning a multi‑day job into a 5–10 minute task; cited impact includes cutting over two weeks from month‑end for a 57‑entity group.
- Cross‑entity bank reconciliation inside Xero via a Mayday tab, matching transactions across entities and posting intercompany entries automatically.
- Automated deferred revenue and prepayments: identification, schedules, audit trail, and one‑click journals—removing spreadsheet dependencies.
- Proven scale: customers with 2–10+ person finance teams (up to 33), including $1B+ turnover groups operating on “Xero/QBO + Mayday” stacks; some have even moved off ERP to this model with substantial software and headcount savings.
- Market validation: 300+ Xero App Store reviews at 5.0 stars and Xero People’s Choice Award recognition; expanding roadmap includes accruals, variance analysis, bad debt provision, and tax estimates.
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