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AcctTwo Blog

Overcoming Financial Growing Pains in Professional Services Organizations

In our services-centric economy, many project-based companies that provide technical and business services are fine-tuning their marketing strategies and business models to pursue growth. And the most recent benchmark report from SPI Research shows those efforts are paying off. The average net profits for the professional services organizations surveyed grew more than 10 percent for the fifth consecutive year. Of course, as those firms grow and expand, they place an added—and changing—burden on the finance organizations that support them.

Topics: Professional Services Industry Automation and Workflow Multi-Entity and Consolidations

Four New Mandates for Finance in Tech Services Firms

Finance and Project Teams Can Drive Higher Growth and Customer Satisfaction

Whether your firm is in IT services, design services, R&D, or even construction consulting and other services disciplines, chances are you’re facing a growing set of complex operational and strategic challenges, such as those highlighted in the chart below. New fast-evolving business models and technologies—including the cloud, mobile devices, and the Internet of Things—are creating a defining moment for technical services firms that aim to control, rather than react to, these change agents.

Topics: Professional Services Industry Tech Services Industry

SPI Research: Professional Services Market Still Growing, but Also Faces Challenges

Last year, we posted a white paper from Service Performance Insight (SPI Research) that made the announcement, "The Professional Services Market is Back!" That document described not only the state of union for PSOs, but also recommended the Key Performance Indicators (KPIs) that Professional Services organizations should be measuring in order to maintain growth and organizational health.

Topics: Professional Services Industry White Paper Financial Analysis, Ratios and KPIs Awareness

Essential Features of a Modern Accounting System for Professional and Technical Services Companies

Accounting systems are not something you change or replace very often. However, as your professional or technical services company grows in size or complexity, you will reach a point where manual processes are draining your productivity and you struggle to analyze the growing range of your financial and operating data. You’ll need a better way to handle accounting within your services company. You’ll need to modernize your system.

Topics: Blog accounting software Professional Services Industry Software Evaluation White Paper Consideration

How Professional Services Firms Use Technology to Drive Financial and Operational Performance

Learn What Successful PSO Leaders Know

With the professional services (PS) market showing strength once again, it is time for its executives to look inward at their organizations to ensure they have the people, processes and information systems necessary to drive growth and profitability over the next decade.

Topics: Blog Software Integrations Professional Services Industry Professional Services Automation (PSA) Customer Relationship Management (CRM) White Paper Project Management and Project Accounting Awareness

Confessions of a Services Company CFO

6 costly problems that keep Services CFOs awake at night

...and how they can get back to business and get some rest.

It’s always been hard to manage project costs and uneven cash flows, quickly and accurately invoice all billable time and expenses, measure and analyze true project profitability, develop accurate budgets and forecasts…and the list goes on!

Topics: Blog accounting software Professional Services Industry eBook Featured Posts Awareness

Managing Professional Services Complexities

From Intacct's View from the Cloud Blog:

"Professional services businesses consistently strive to deliver client value and ensure project profitability. This drives a need for real-time visibility into project status, margins, and cost management. The ability to seamlessly combine financial information and project information in one system, ensure total transparency into the business, improve operational efficiencies, and increase finance department productivity is a must for successful professional services 

Topics: Blog View from the Cloud Intacct Professional Services Industry Awareness

Professional Services Companies: What are Your KPIs?

The Professional Services market is back!

So says a recent paper by SPI Research. While Professional Services Organizations (PSOs) are growing, the key to future success will be whether or not they are maturing. And financial maturity is the key. The most mature organizations exhibit high levels of organizational visibility with optimized business processes and integrated systems, which span all major functional groups. 

Topics: Blog KPI Professional Services Industry Business Intelligence / Analytics professional services financial maturity White Paper Informational Financial Analysis, Ratios and KPIs Awareness

Professional Services Benchmark Survey for 2014

Over the past seven years Service Performance Insight (SPI) has researched, benchmarked and built a maturity model to help professional services (PS) executives better understand how their organization compares to others that are both similar in size and scope of work, as well as to the broader professional services market. The maturity model, and the concepts behind it, have gained international attention.

Topics: Blog Professional Services Industry White Paper Financial Analysis, Ratios and KPIs Featured Posts Awareness

Ephor Group Chairman Garry Meier Talks About Lessons Learned in the New Economy for SMBs

Ephor Group Chairman Garry Meier Talks About Lessons Learned in the New Economy for SMBs, AcctTwo CEO Marcus Wagner talks about business process outsourcing for SMBs, Intacct Channel Executive Peyton Burch talks about the benefits of Intacct's on-demand accounting and financial management system.

Topics: Blog middle market shared services back office management reporting FAO information systems Intacct Professional Services Industry CFO F&A outsourcing SaaS Outsourcing accounting outsourcing Intacct Media Coverage Software as a service controller outsourced finance and accounting internal controls Cloud computing outsourced back office Videos Accounting compliance bookkeeping