Six 30 minute films and comprehensive staff training manuals. Each 30 minute film discusses key aspects of billing and collections. At the end of each program there is a ‘Take Action’ form that is intended to capture the thoughts and ideas from your team. Take Action enables staff to capture the top three ideas and suggestions they heard, what they would like to do differently and their key recommendation. This still leaves you in control of firm decisions but heightens staff’s awareness of their role in making sure you get paid well and promptly for your services. Provide your staff with their own manual which we will send you at the same time as we despatch the program. You are now on your journey to not only improving billing but also lowering your lock up.
Inter firm surveys continue to reveal that most firms have lock up (debtors/receivables and WIP) as in the region of 25-35% of gross income. The firm’s balance sheet shows this as an asset, but is it? With so much owed to the accountant clients do not necessarily feel that they can make a further financial commitment.
LUBRM – Our accountancy firm model. This session provides an essential insight into the core model which highlights the five key areas where profit can be improved. This session comes complete with over 25 ways to improve profits. We also look at the advanced LUBRM model which looks at three key areas where your firm’s profit and loss account should be extended – before you even see the top line!
Billing myths and downsizing your lock up (part 1). Over 20 myths some of which are almost certain to be responsible for leaking top line revenue. We start in this session to train you and your team on a better approach to billing. The second half of this training session looks at the seriously adverse impact your lock up is having on both you and your clients. This is probably one of the most serious aspects that most firms need to address.
Improving job profitability. In this session Mark looks at a number of ways that job recovery can be improved. We address areas that can improve time capture as well as the Job Postscript – an approach many of Mark’s clients have used to great effect. We look at many ways to avoid write downs; the advantage of the client budgeting approach; three major budgeting lessons and a look at Mark’s casebook which highlights 12 lessons learned from managers.
Discussing prices with clients. It is always the seller’s responsibility to raise the question of price. It is getting harder and harder to sell professional services based on time. This session looks at price estimates, handling price objections and a range of ways to improve your billing.
Massive action campaign. By the time you reach session 5 you may have decided that you need to take action to reduce your lock up. But how? These next two sessions provide two very differing solutions. We look here at how you can very quickly reduce your WIP. But, reducing WIP is no guarantee that lock up overall will be reduced. But, the first step has been taken. You are now ready for the second step – call and collect. Getting clients to pay those invoices. Many firms have found this approach works exceptionally well. We do not underestimate the challenge, but the endeavour is unquestionably worth the perseverance. You will succeed.
New billing and collection horizons and downsizing your lock up. We take you step by step through the implementation steps that will result in your lockup reducing dramatically. This approach provides you with a win-win scenario. You will be much happier and so will your clients. You will be freer to offer your clients your new services and they will not see the debt to your firm as a barrier. You will find this session challenging and insightful – the rest is up to you to implement.
Price is fixed and includes VAT and shipping (including international) as applicable