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INNOVAT is a graphic design studio. The business employs 20 talented people and is the brainchild of entrepreneur and owner, Richard Brown. The business had a relationship with an accountant, but Richard wanted a fresh start.

Client

INNOVAT is a graphic design studio. The business employs 20 talented people and is the brainchild of entrepreneur and owner, Richard Brown.

Problem

The business had a relationship with an accountant, but Richard wanted a fresh start. He approached a new accounting firm to take on their work. The initial brief to the firm was to assist Richard’s business with a review of their systems and processes. In a nutshell, Richard felt they were inefficient. His team worked very hard, but he wanted them to start working smart. The measurable outcome Richard wanted was an improvement in billable hours for clients driven by his team achieving higher productivity.

Solution

The accounting firm’s first suggestion was to transition to a cloud-based accounting system. This change was agreed upon, and it made a huge difference to the efficiency of Richard’s business.

INNOVAT’s new cloud-based accounting system helped them:

  1. Automate manual business processes
  2. Increase data accuracy by eliminating duplicate entries to prevent errors
  3. Secure data with streamlined approval processes and data backup
  4. Gain access to data at any time for complete control and collaboration

The firm’s advisors then reviewed all systems and suggested improvements (many based on feedback from Richard’s team). The changes were implemented, and the updated systems were documented.

With the help of the firm’s bookkeeper, they also assisted with the creation of annual reports for the previous year and helped INNOVAT to forecast and set business goals for the year ahead.

The new accounting firm invested time to develop an understanding of the business offering and its culture. They gained an appreciation for the team’s enthusiasm and expertise. They then provided a holistic service offering, differentiating themselves from the previous accountant.

A benefit to the Client

The new accounting firm partnered with the business and helped INNOVAT to improve its business in a number of ways. The move to a cloud-based accounting system made Richard’s business more efficient with fast access to data that helps connect business systems. Productivity was improved by 15% which had a positive impact on clients and achieved the goals set by Richard.

We love partnering with business owners to help them improve their efficiency and profitability. To set up a time to discuss ways in which your business can improve, please contact us at info@fusiontaxlaw.com

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