Case Studies

 

Here are two examples of how we have helped other professional service firms.

Case A: The problem

 

An accountancy firm had a substantial amount of company secretarial work to conduct on behalf of its own clients. It was a huge administrative burden, with risks attached, to ensure that the work was completed to required standard and particularly with the on-going company secretarial work. There were obviously PI implications.

 

Our approach to solving the accountancy firm's problem

We proposed outsourcing the work to us. Quick Formations could undertake all the work for them, relieving them of the administrative burden. We had the PI cover to remove the risk for them and we could also do the work far more efficiently as we were better geared up with market leading IT and trained professional staff. We could incorporate a company and return all the details to the accountancy firm on the same day we received the request from them. We were also able to take away the on-going company secretarial work. We did not have contact with their clients, although we would have been happy to do this if they had wanted. We have won awards based on our client care and service approach.

 

The result for the accountancy firm

• Increased profit, through charging back the outsourced work to their clients.
• An increase in the number of hours available to fee earners, which could then be used for other fee earning work rather than administration of company incorporation.
• The quality of the incorporation work improved due to the fact it was being conducted by completely dedicated staff. This meant less time was wasted due to errors and the risk to the firm was reduced.
• Their clients were impressed with the speed with which the company incorporation work was conducted.

 

Case B: The problem

 

Another accountant had a satisfied and valuable client, but one that required a great deal of on-going statutory compliance work due to the structure of their business. This work took a substantial amount of chargeable time, which was then hard to bill back to the client, as the client perceived no real value in it.

 

Our approach to solving the accountancy firm's problem
We were able to take all the on-going statutory compliance work from the accountant and provide resources to help with any further restructuring issues that arose. We were able to complete the work faster as we concentrate purely on this sort of administration. We had no contact with the client and provided all information on paper with the accountant's logo on.

The result for the accountancy firm

• It was much more cost effective for Quick Formations to undertake the work and so it could be billed back more easily to the client.
• The work was completed quickly and efficiently and there was less room for error, as we were constantly monitoring the client's regulatory requirements.
• It meant that the fee earner could concentrate on other, more valuable, chargeable work.