Supporting medium-size clients with the right accountancy software for accountants in practice
Supporting medium-size and fast-growth clients adequately is a problem faced by numerous accountancy firms for years. These companies make attractive clients, however they can be complex to service, as they tend to have much more complex analysis and reporting requirements. It can be a struggle to find the right accounting software for these accountants in practice.
As companies expand and look to grow further, owners and stakeholders require a greater degree of insight as to which product lines, regions, departments or projects are performing best and conversely, which are not. Two cost centres extending the General Ledger (which many systems have) would not typically provide the depth and segmentation of analysis required to provide sufficient business-critical information. When key financial decisions are to be made, multi-dimensional and real-time management reporting is critical to give clients confidence in the numbers being reported.
The reporting and insight problem is magnified as these companies scale and develop group structures. Not only is management reporting required at company or subsidiary level, but throughout the group and against budgets. Furthermore, consolidating these reports was once the sole responsibility of specialist tools at vast expense, or the creative Excel enthusiast spending a lot of time typically and incurring the inherent risks.
Supporting mid-sized and growth organisations has become increasingly hard, margins are squeezed as the additional tools add expense and complexity leaving many accountants questioning the effort. With the right tools that automate these processes however, it can become a higher value service to provide a client. What’s more, delivering key information at speed cements your role, not only as a trusted advisor, but also as an irreplaceable component to success.
Migration from legacy systems
Traditionally, moving these clients to a bigger platform has been a relatively long process due to a lack of solutions with an advanced standard of functionality and typically long implementation times. The effort of sourcing a cost-effective, feature-rich accounting solution, which can be implemented swiftly, can often feel like a thankless task. Yet it does not need to be.
The new generation of solutions such as AccountsIQ’s award-winning Cloud accounting software are now able to automate compliance and complex management reporting, with the added benefit of a short implementation period. No longer do accountancy firms have to put up with the open-ended, high cost implementation projects of old.
Supporting mid-sized and growth companies with AccountsIQ
AccountsIQ is an ideal solution to support clients with more advanced accounting and reporting requirements and is typically implemented within four weeks or less.
Many of the organisations and accountants who use AccountsIQ:
- require reporting across multiple companies and in different currencies with multiple cost and project codes for analysis.
- need automated consolidation of group financial reports and automated management reporting
- have an industry-driven need to integrate their accounting software with different applications, in different parts of the business
- need deep business intelligence or have more complex accounting needs
- are emerging out of the micro end of the market and need more sophisticated financial management to help them grow
- want to become more efficient – saving time, automating processes and reducing paper
AccountsIQ is easy-to-use and is well regarded by its users and has won Mid-Tier and Enterprise Accounting Software of the Year, as voted for by customers, for the last two years running.
Sectors that tend to be a great fit for AccountsIQ
- Renewable Energy
- Financial services
Benefits of award-winning accountancy software for accountants in practice
- Increased fee income from offering automated consolidation, management packs
- Retain and delight fast-growing clients
- Attract higher-value clients who can’t be supported by other practices
Discover how practices are supporting mid-sized and fast-growing companies with AccountsIQ
See a quick overview of our software capability in one of our Webinars.