Our client is a sole proprietor of an accountancy practice in London with a GRF (gross recurring fees) of less than £90,000. The problem our client faced was that their practice was getting stagnant. The proprietor was having trouble finding a skilled and qualified employee who can take care of the accounts production work of their clients. As the proprietor did not have the right employee, he had to do all the work himself. As a result, he could not take time to find new prospects and work. Ultimately, the accountancy practice was not going anywhere.
How Outsourced Accounting Benefitted a UK-Based Accountancy Practice
Outsourcing of accounting work of your accountancy practice can indeed prove very beneficial for you! Let us tell you a success story of one of our clients, a London-based accountancy practice, who has benefitted a lot by engaging our accountancy outsourcing services.
The Dilemma
The Solution
The sole proprietor approached us and considered ‘outsourcing of accounting work’ of his accountancy practice to us. The proprietor outsourced the entire accounts production work of his clients to us. The proprietor initially felt a slight drop in his income. However, he availed a lot of free time, which allowed him to focus on bringing new clients and increasing the GRF of his practice.
The Outcome
While at first, our client felt a small drop in the income, but at the same time, he gained enough time to find new clients and pull his accountancy practice out of dormancy. By outsourcing the accounting work, our client, over the course of four years, was able to increase the GRF of his practice from £90,000 to £250,000. Further, his income too increased substantially. All these increases, both GRF and income, and the client haven’t even had to prepare a set of accounts! Our client had set his accountancy practice free by considering outsourcing of accounting work to us. Even when the client was out of action for almost six months, his practice never ceased working because our experienced and qualified professionals were there to continue the accounts production work.
The client today has a stress-free accountancy practice with healthy profit margins and more leisure time, which he spends with his family.
Conclusion
If you want to transform your practice, just like our clients, consider outsourcing of accounting work in the UK to us. We are the leading provider of accountancy outsourcing services in the UK and will help you set your practice free.
Wondering how ‘outsourcing of accounting work’ works! Simply click here.
In case you have any questions about our accountancy outsourcing services, feel free to contact us https://affinityoutsourcing.net/contact/.
