No growth, No profitability?

At Practice Eye, we understand very well that all accountants finded new clients acquisition too costly and time consuming. We also realize that, in the current economic climate, small and medium sized accountancy firms are facing an additional major problem. It's clear that new customers want lower fees but still require extensive support. This is highly demanding on any business but for small accountancy companies it can mean making a loss.

Many small accounting practices have solved both these problems by outsourcing their back office to Practice eye.

As an established back office service provider, we carefully map all the activities of each of our customers in terms of the fees they earn so that we can assess their overall profitability. We often see that even accountants who earn reasonable fees still suffer from low profit margins, which forces them to diversify into other market segments.

It is important to understand that merely outsourcing will not make your accountancy firm profitable. Rather, it is the planning and implementation of new processes at both the front and back ends of your business that will turn your accounting practice around.

With the help of Practice Eye, one of our customers began taking a 35% profit from his existing turnover. He did this by making changes at both the front and back end, based on personalized recommendations made by Practice eye.

He then went on to diversify into more profitable areas, with the calm confidence of knowing that his accounting practice operations were in the dependable hands of Practice Eye.