Virtualnet began life over 20 years ago as an Internet Marketing Consultancy. We quickly evolved into a software development agency by also offering bespoke web solutions. We have had a varied client base over the years from well-known large organisations to smaller companies and charities. This has meant we’ve turned our hand to several projects, right from basic requirements to fully functioning web solutions. We have a 95% client retention rate year on year.
We can design and develop tailor-made software solutions to suit the needs of any organisation. Our experienced in-house team of Developers and Account Managers have years of experience in software development.
Integration with third-party software and applications can be built into any solution. Enhancing the power of great software solutions can lead to better business efficiencies and savings as well as to lead to more sales.
We pride ourselves on using the experience gained over time to not only deliver projects but to provide collaborative, ongoing support and help throughout the life cycle of a website.
If we develop anything bespoke, there exists an opportunity for our clients to reclaim a large proportion of their investment against their corporation tax liability through the government’s R & D Tax Reclaim rules.
Client Requirement
Virtualnet Software has recently been working with a franchisor of 140 UK-Wide High Street-based shops, offering physical mailbox rental, printing and shipping services.
The client’s initial challenge was that they did not have a centralised ERP solution to manage all their franchisee 
businesses from one system. Meaning each franchisee was using a different management process and multiple apps to process business transactions and manage their customers and subscriptions. Client records were non-centralised, and each individual franchisee could not process their clients’ payments to com
ply with the FSA’s (financial services act) latest rules and regulations. Additionally, the financial audit of franchisee businesses could not be easily managed, meaning that their figures were not always accurate. They needed a cost-effective solution that would resolve their backlog of problems, which was when Virtualnet Software came in to assist.
ERP Solution
Since working with Virtualnet Software, the client decided that a bespoke ERP system would best suit their business and rectify their current problems.
This solution was built and created to unify the management of all franchisee businesses and their processes. As well as this, they achieved the centralisation of all client records.
The internal apps were swiftly integrated into the software for ease of management across all franchisees, which in turn made all business transactions compliant with FSA rules.
By choosing a bespoke ERP system, the development qualified for a full Government R&D Tax Reclaim, meaning that a substantial part of their investment was offset against their corporation tax bill.
Other benefits included the automated renewal and subscription solution, as well as all identity compliance being adhered to.
For the client, they found that they had a very easy management process and the ability to audit across each franchisee’s fees which was maximised for the franchisor.
All payments have been integrated into the solution and they had full visibility of all sales and finance reporting.
As well as an audit trail and an accounting module, the biggest solution was the fact that the system was fully integrated with the website.
The reaction we get from clients is extremely positive ““The team is always fully engaged and spends a lot of time understanding the brief and our sometimes complex requirements. The team at Virtualnet keep in touch throughout the projects to ensure we are on the right track, and they are always at the end of the phone if we have any problems.”
R&D Reclaim
As the solution required was totally bespoke and the solution was considered an advancement in technology in the industry, the development qualified for the UK Inland Revenue rules for R&D Reclaim. This means a substantial amount of the investment was able to be recouped against the company’s Corporation Tax liability.
Virtualnet Software will consider any project provided we think our work will make a real difference to the client, for more information visit: https://www.gov.uk/guidance/corporation-tax-research-and-development-rd-relief
