The results from outsourcing
Work delivered on time and on-budget
- A Major International Group was struggling to navigate through the iXBRL maze.
- They wanted to deliver a long term solution to iXBRL compliance and decided to outsource the first year file preparation to us.
- We completed the files for approximately 70 group companies, helping the group meet their deadlines.
High quality & attention to detail
- Prior to using AdvanceTrack®, this sole practitioner had use another outsourcing provider.
- However, they would regularly receive work back and have to spend time unravelling what had been done.
- They switched to us and have seen an attention to detail and superior tracking system.
Reducing the number of new staff required
- After conducting a review of all the major outsourcers, we were selected by a top 50 firm to help provide additional capacity at certain times of the year.
- To do this, we helped provide a more process driven approach to exercises such as accounts production.
- This has helped them offer trainees and staff more interesting and challenging work as well as save the firm money on recruitment.
Improved profits and service delivery
- A 15 partner regional practice needed to free up staff time during tax deadline season.
- We were selected to deliver 600 personal tax returns between May and January.
- This led to an increase in net profit by £150,000 and improved service delivery.
More time to deliver advisory services
- A two-office practice decided to outsource to reduce the workload for their staff.
- Staff were quick to realise outsourcing would help them carry out more added value work than pure compliance.
- The results have allowed the firm to reduce administrative burdens and carry out more exciting work with clients.
Increased time with clients
- A 7-partner firm came to us needing support with accounts preparation to support their audit teams
- We worked to segregate the work and free up staff time to work closer with clients.
Does it really work in practice?
Our experience is that the accountants who experience the greatest success with outsourcing are those who are longing to do more of the work they enjoy, and are committed to providing an excellent client experience. Because it’s not outsourcing that makes your practice. It’s not even the technology. It’s you: You are the true success of outsourcing and building your firm.
You may have used outsourcing before and it didn’t work. Perhaps you were told it would save you money, or save you time, but it didn’t. But if you’re truly considering it, this time ask yourself these questions: Has the outsourcing you’ve tried delivered on all of these areas? Has it truly helped you to serve your clients better?
Please note: For privacy reasons we can’t always share with you the names of the firms we work with, but if you’d like to be featured, please let us know!
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