Running an accountancy firm comes with multiple costs, all of which combine to create a large monthly total. Whilst accountants are experts when it comes to financial efficiency, there may be some simple changes that you haven’t considered. We’ve rounded up five tips for reducing your expenditure and ensuring that your processes are bringing a stronger return on investment.
Make meetings more efficient
Whether you do them in person or through video conferencing software, meetings take up a lot of time. Even when a meeting lasts just thirty minutes, if there are six members of staff involved it adds up to a full three hours of work time. We understand that meetings are important, but there are multiple ways to make them more efficient.
The time of day and week that you hold your meeting makes a big difference. First thing on Monday morning and just before leaving work on a Friday may not bring the best results, so choose a time when you know you’ll get the best performance from your staff. It also helps to create clear agendas beforehand, as this way you can work to a schedule and finish on time. And of course, if a particular conversation doesn’t warrant a meeting, you can hold it through emails or other digital platforms instead.
Create free advertising
Advertising is a fantastic way to entice more people to explore your services, the only problem is that it can come with a hefty price tag. However, a powerful form of advertising that won’t break the bank is vehicle signage, as it’s relatively cheap to install and lasts for as long as you need.
Whether it’s having company cars wrapped entirely in a branded graphic or simply giving your staff eye-catching window stickers that include the company logo, website and phone number, this simple yet effective method can bring excellent results.
Every business owner knows that going green will help to reduce costs as well as protect the environment, but many accountancy firms still carry out processes that are an unnecessary waste of materials and energy.
From simple routines such as turning off lights when a room isn’t in use and shutting down computers rather than putting them to sleep, to printing on both sides of a page where possible and reducing paper overall by using task management apps, you’ll find that the cost saving really adds up.
Optimise your digital presence
The vast majority of potential customers want to find everything they need to know about your services simply by going online. This means that your website should include clear language that demonstrates why you’re the right solution, as well as a regularly updated blog that offers useful advice and breeds trust in your brand.
By combining this with active social media channels, features on news websites and attractive e-newsletters that share the latest developments in the accountancy sector, you give online visitors every reason to find out more and become long-term clients.
Whilst the above actions will bring regular savings, the most cost-effective change you can make to your accountancy firm is the outsourcing of tasks. XL KPO Services is a group of finance experts who specialise in bookkeeping, tax management, VAT and year-end accounts, enabling you to deliver these services to existing and prospective customers without having to worry about investing countless staff hours each month.
Thanks to our competitive rates, versatile accountancy skills and extreme attention to detail, outsourcing will not only save you money but also give you the freedom to take on new clients faster than ever before. Our team is constantly growing, so we have the capacity to manage as many accounts as you require both now and far into the future.
Get in touch
We’re accountants for accountants, working hard to ensure that our clients in the UK and Ireland receive an exceptional service and have room to grow their business. If you run an accountancy firm and would like to know more about the benefits of outsourcing, get in touch today at firstname.lastname@example.org.