TL;DR: Poor time and billing accuracy for professional services firms is a significant—and often invisible—profit drain. According to Certinia, the average professional services firm sees a 5% gap between revenue earned and revenue billed. Tighter tracking systems and cleaner billing processes can recover that revenue without winning a single new client.
TL;DR: The three most damaging accounting traps for professional services firms are WIP mismanagement, under-billing,.
TL;DR: Revenue alone doesn't tell you whether a professional services firm is profitable. The KPIs that matter.
It is no secret that accounting is rife with complex challenges characterized by number-intensive projects that require.
Topics: outsourced accounting services, bookkeeping services, accounting services, government accounting, cloud-based accounting, financial management, online accounting services, expense management, outsourced services, business planning, outsourced bookkeeping services, accounting for professional services companies, accounting trends, professional services
As we’re already halfway through the first month of 2021, we thought it might be a good time to share our plans for the.
