A common theme we see at FibreCRM (when speaking to partners of practices of all sizes) is that they want to "spend less time chasing clients". I am sure this resonates with pretty much every reader of this blog!
Whether it`s chasing for information to complete a tax return or reminders to pay taxes - this is un-billed time and eats into profit margins. The larger the practice the more time that is lost, and if 1 day (per partner) each month is lost chasing clients - the cost (both £ and time) can be staggering. For example, if a practice has 10 partners, thats 10 un-billable days per month (120 un-billed days per year, or 960 hours!).
On the basis of an hourly rate of £100 (conservative, I know) that practice could be absorbing £96,000 of unbilled work, every year. In that context, this is an issue well worth seeking a solution for.
Look no further - because more and more accountancy practices are discovering that the solution lies in a (practice management/integrated) CRM system. CRM enhances practice management. It finds those job stages that stall due to manual (internal or external) information flows - and sorts them out. CRM sends automated email alerts directly to the client (without interrupting staff and partners) and immediately removes those expensive lost hours chasing clients. In short, it pays for itself (and then some).
It’s just about time to be on time for MTD
Job turnaround subsequently speeds up, and invoices get sent (and paid!) sooner - resulting in improved cashflow and a healthier bottom line for your practice. And, crucially, CRM can be the perfect platform for supporting GDPR compliance.
Integrated CRM does much, much more than all of this - and I`ll be blogging monthly on Accounting Web to explain in more depth how CRM can work hard for your business. Look out for my next blog where I`ll cover subjects such as NPS Survey Information, Maximising Service Opportunities & Client Care, and covering some essential last minute advice on GDPR as it edges ever nearer to becoming applied in UK law (just 11 working days to go...).
Experienced business professional with 25 years experience of end-to-end leadership and management in sectors such as Food Manufacturing, Business & Training Support, Information Technology and Software Development.
Skilled in GDPR Consultation, Cyber and Information...