How to scale your accounting firm quickly
One of the biggest barriers to scalability is a lack of capacity which is always going to be limited by the number of workable hours in a day.
So how do you shift away from bookkeeping and compliance services to make more time for the higher value advisory services your clients want and need? The answer lies in two tried and tested strategies; technology and outsourcing.
1. Scaling with technology
The beauty of technology is its ability to slash administration and processing times. With historical data and dynamic rules, technology can classify transactions and generate reports with just a few clicks of a button.
However, how well your technology serves you is dependent on the quality and quantity of data captured within your software.
Automated data feeds will help you reduce the time required to gather and input data, however not all client information can be automated so some manual data chasing and input will still be required.
2. Scaling with outsourcing
A proven and reliable method to ensure scalability issues never impact your bottom line is to engage the services of a reputable outsourced accounting provider. This strategy enables you to easily extend your team with an extensive network of qualified and fully trained accountants.
These staff can take care of your grunt work in terms of data collection from clients, data input and reporting, enabling you and your senior staff to take a more proactive approach to managing your clients.
Outsourcing firms have a vested interest in adopting the latest technology so through that relationship, you and your clients can also access the latest and greatest technological advancements available.
At befree, we can help you do the heavy lifting during growth phases. Our support services are flexible and can be adjusted to meet your needs now and in the future.
By adopting technology and outsourcing strategies in your firm, scalability issues will never become a source of frustration or a risk to your bottom line again.
Discover how befree can help streamline your accounting operations, helping you save costs and improve your bottom line