SERVICE-BASED
BUSINESSES
OUR SERVICE-BASED BUSINESS EXPERTISE
We’ve acted for a range of brilliant businesses across the services sector, including recruitment businesses, estate agents, IT businesses, consultancies, financial advisors, marketing agencies, and software developers. So, we’re confident we can help your professional service business thrive.
Handling service-based business challenges
Tracking job profitability
As service-based businesses ourselves, we understand the unique nature of running a business with fixed personnel costs and variable income streams. What’s more, when you make or buy a product, it’s relatively straightforward to track the profitability of each item. However, tracking the profitability of customers and projects requires accurate tracking of team utilisation recovery rates and a system for calculating pricing.
Performance-related pay
In some areas of the service sector, performance-related pay is commonly used, adding an element of variability to the fixed nature of team costs. Performance-related pay is usually linked to targets such as sales and requires accurate recording. For e.g. tracking categories in Xero can be used to track team members’ sales and integrate this reporting into the payroll process.
Managing working capital
Managing working capital can be challenging for service businesses. Knowing when to bring in new team members is a key part of growth – too late, and you’ll be unable to meet customer demand, but too early, and you’ll be carrying unnecessary costs. To help manage this, having an up-to-date financial forecast that includes profit and loss, balance sheet, and cash flow is a key tool that we support our clients with.
Reviews
Andrew Wallis OBE
Unseen, UK
Warren Madlin
MadlinHanna
Harriot Pleydell-Bouverie
Mallow & Marsh
WHO WE SUPPORT
OUR SERVICES
CARBON ACCOUNTING & BOOKKEEPING
Get the accurate and timely CO2 and GHG emissions data you need to reduce your organisation’s environmental impact, meet customer and regulatory requirements, and save money.
OUTSOURCED FINANCE DEPARTMENT
Receive quality financial data that will help you make the best decisions for your organisation – while saving time and worry. Check out our outsourced accounting, bookkeeping, management accounts, payroll and financial strategy services.