Traditionally, professional services organisations (PSOs) including accounting firms have taken a departmental approach to managing their business – this is often the result of a period of fast growth or acquisition. You’re probably familiar with the term “silo structure”. This tends to create rigid and isolated silos that lack visibility into key cross-business information for making critical business decisions, and thus hampering growth.
Instead accounting firms need to manage their business with a ‘one-firm’ mentality rather than, for example, managing five separate divisions run by five different Partners. The aim should be to save time and money by integrating a series of individual processes by which companies operate.
By using scalable enterprise systems that unify key operations of the business it can be managed as one firm – this approach will give partners insight into real time statistics and a view to the financial health of the company as a whole.
Such holistic tools allow you to see the whole picture without losing any of detail which underpins your entire structure. Successful managers need to be able to see the wood for the trees, as well as be able to identify the trees themselves.