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Sectors

Accountancy for professional services

Building your business on firm financial ground

Like so many industries at the moment, the professional services sector is undergoing a time of real transition.

Digital disruption means competition in the legal and financial marketplace is at an all-time high - with clients increasingly expectant of high-speed, high-quality service driven by new technologies.

As professional service firms scramble to try and meet that demand, it’s putting the industry’s traditional resourcing models under pressure too.

With all these challenges to face, it’s more important than ever to build your business on solid financial foundations.

How we help

As one of the leading Xero accountants in Birmingham, we’ve built our business around cloud technology - so we certainly know a thing or two about the tech-disrupted professional services space.

We use our own innovative approach to help firms get ahead of increasing competition, unlocking access to your real-time financial data to help you make better business decisions.

Of course, we’ll support you with your statutory accounts, VAT returns and bookkeeping too, but it’s our business growth and advisory services that can really add value to your firm.

And, as you look to solve your resourcing issues by tapping into the on-demand workforce trend, we’ll be right here to help you navigate the complexities of PAYE and IR35 too.

INFORMED ACCOUNTING SERVICES
A QUICK SUMMARY
  • Core accounting: Statutory accounts preparation, corporation and self-assessment tax returns, VAT returns, payroll & auto-enrolment and bookkeeping services.
  • Management accounts: Regular reporting and reviews on your businesses key performance indicators (KPIs).
  • Business growth advice: As your virtual CFO, we'll help you develop your business plan and review progress regularly, offering expert financial advice.
  • Xero: We’ll supply Xero’s online accounting package, plus help you get set-up properly and provide year-round support with add-ons when required.
PROFESSIONAL SERVICES KPIs
WHAT WE'LL HELP YOU TRACK
  • Time tracking + billing - If you invoice on a time-spent basis, we’ll help you get a better picture of your billable time, putting the systems in place to increase utilisation rate and improve profits.
  • Profit/Loss per client - Your biggest clients might not always be your most profitable. We’ll help show you which customers really provide the greatest value to your business.
  • Operating profit per head - Monitoring profit per head against revenue can help highlight over-spending. Controlling your wage bill and other expenditure is key to a healthier business.
  • Cash flow reporting - Cash flow is king in the professional services world. At Inform we’ll help you get to grips with money coming in and out of your business, putting systems in place to help you plan ahead.

All done? Great – then give us a call and we’ll go through all the services you need in more detail. And of course if you can’t decide, or you’re not sure exactly what you need, we’re happy to help.

Get in touch

Setting a P&L budget is not enough

Don't lull yourself into a false sense of security, by only setting a budget for your income/profit and loss statement.

We'll help you understand the relationship between your balance sheet, cash flow and P&L, so you're in more control.

And because it's real-time, you'll be able to access your numbers anywhere and on any device to see your current financial position.

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