How Outbooks is helping businesses grow – Client A Case Study

Client A is a multiple award-winning accountancy practice established in 2005 with revenue upwards of £2.5m serving clients from various sectors ranging from self-employed to small businesses. The practice faced several significant operational challenges:

- Practice struggled to grow despite having established client base
- Turnaround time on queries was slow, affecting customer satisfaction
- Rate of increase in costs was greater than the rate of increase in revenue, which continuously put downward pressure on margins
- Accounts were mostly submitted on deadline dates rather than ahead of schedule
- Clients were not paying on time, creating cash flow issues

These challenges were preventing the practice from scaling effectively and improving profitability.

Outbooks provided a comprehensive outsourced accounting and bookkeeping solution tailored to Client A's specific needs:

Initial Assessment and Understanding:
- Worked in Client A initially to understand the tasks that were consuming time, adding least value and could be outsourced
- Spent time understanding the whole practice, working culture, customer demands, work, regulation, and compliance requirements

Implementation Approach:
- Trained Outbooks staff on Client A's specific processes and requirements
- Ran parallel operations for over a month to minimize operational risk and remove any issues in live operations
- In less than 3 months, Outbooks was fully integrated and delivering unparalleled service to Client A customers

Services Delivered:
- All day to day customer accounting queries were now handled by Outbooks staff
- Enabled Client A to focus its time on business development and improving customer experience
- Recruited and trained staff at an unprecedented rate which Client A could have never managed independently

Client A achieved remarkable results after partnering with Outbooks:

- All incremental costs were reduced by over 40%
- Turnaround time on inquiries came down from 5 days to less than a day
- Client A has grown over 10 times since partnering with Outbooks
- Days sales outstanding has gone down from over 60 days to less than 30 days
- Accounts are submitted well before the deadline date
- Practice saw a spike in growth allowing for improved margins and better customer experience simultaneously