Case Study – Professional Service

Case study - professional service firmChallenge:

This professional service firm (CPA/Accounting) had a good reputation and revenue showed consistent growth. However, profit margins were declining due to client mix changes and inefficiencies within the operation.

Our Goal:

To increase net profit by increasing team productivity, improving systems for efficiency, and refocusing marketing on higher margin clients in strong niche areas.

Actions Taken:

  • Analyzed and modified critical systems and procedures, including service delivery and billing, to improve quality assurance, customer satisfaction, and profitability.
  • Revised organization structure for optimal efficiency.  Developed position descriptions, clear team goals, performance bonus program, and an employee appraisal system that supports team development.
  • Clearly defined ideal market segments and services. Then built delivery procedures with service level requirements and marketing to support each segment.  Walked away from some business.
  • Established procedure to bring on new clients and get them started right.
  • Developed method to stay connected with clients and prospects throughout the year.
  • Updated website to reflect new focus, provide resources and support for target customers, and generate new quality leads for the business.

Results Achieved:

Within 12 months, realized revenue increased 11% and profit increased by 18%. In addition, the employee satisfaction scores increased 5.3% over the prior year.

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