No growth = no profitability ?
At Practice Eye, we understand very well that all accountants finded new Clients acquisition too costly and time consuming. We also realise that, in the current economic climate, small and medium sized accountancy firms are facing an additional major problem. Its clear that new customers want lower fees but still require extensive support...
Process management issues?
Outsourcing works best for accountancy firms who are able to manage their front office effectively and outsource successfully. The key to good outsourcing for an accountancy firm is to have clear expectations of the outsourcing service, clearly defined goals and objectives and good planning...
Low turnaround ?
Low turnaround is a common problem in many accountancy practices and it can affect cash flow quite adversely. Customers using outsourcing services are primarily dependent on their service provider for turnaround speed, while the ones who don't are at the mercy of the working pace of their own office staff...
Are your earned fees too low?
Small firms of accountants generally face this problem. Their Clients dont want to spend any more money on accounting year-on-year or, worse, try to renegotiate their fees down due to economic recession. It is a dire situation for any business to be in...
Staff resistant to outsourcing ?
The success of outsourcing your Practice Eye accounting processes does depend on how well your front and Practice Eye work together. We have seen situations where our business partners were comfortable with outsourcing, but the front office staff were reluctant to accept it...
New practice?
Entrepreneurs starting a new business face the challenge that all new Clients need more attention initially. Dedicating manpower to prospective or existing customers is like a chicken and egg story - no-one knows which one comes first...
Practice management software issues ?
Practice Management and Customer Relationship Management (CRM) are hot phrases in the accounting industry. Many more firms are buying into the concept of automated administration of their accountancy practice. But many of the industry solutions out there are lack the capacity for effective integration...
