Why internal productivity can boost your profitability
4th Dec 2019
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Finding productive internal processes is the first step to improving your profitability. The true challenge for most practices though is to regularly take time away from business-as-usual to question if your current practice management is as efficient and profitable as possible.
Wolters Kluwer have noticed a trend of practices with standalone software products, moving to an integrated software suite to optimise processes and drive efficiency. That said, many practices are reluctant to move and would rather stay with standalone providers they are dissatisfied with. When you are working to meet deadlines and the software you have works, with some or a lot of manual intervention from your team, why fix what works now?
What is often overlooked in this consideration, is the cost of not moving to an integrated suite. Could standalone software solutions be holding you back from reducing dead time? In this article, Wolters Kluwer helps you calculate the cost of standalone software with a practical example: a change in address.
Whether you are unlocking time to secure new services or clients or looking to improve your cashflow, it’s an opportunity to look internally. You can find profitability, improve your cashflow and take on new revenue with an existing workforce just by looking at how you can improve your current internal productivity to free up capacity.
In this article find out:
how consistency and standardisation can be the biggest time savers
why automated workflows, billing and paperless office is something your practice should invest in
how to manage you practice by exception with an integrated suite
This is a must read for any practice looking to streamline their practice processes and increase the capacity of their existing tax and accounts teams