PMC

Can your practice handle a large growth in business?

It is a nice prospect to contemplate, but business expansion will put pressure on your regular compliance services. How will you cope? Will you just hire more staff and move to bigger premises? If so, you could fail to see the impact of success on your profitability.

Before contemplating additional resources, PMC highly recommend an analysis of your current processes for compliance - the production of accounts, tax returns and other business services.

There are very few firms today who are not equipped with computer applications to facilitate their various compliance processes. Most firms will also have a time recording and billing system. Nearly all practices store their outbound documents in central folders on the practice central computer filing, and an increasing number are now scanning inbound documents, and storing them together with faxes and e-mail. However, nearly all practices have installed these solutions piecemeal, and have not considered the positive implications for the compliance workflow of making all of these systems work together. This is really unfortunate, as the efficiency savings can be large, and in the case of the larger firms, they can be HUGE. Savings from the bottom line, every year!

There is really no downside to re-evaluting your approach to compliance - your clients will get an improved service and, if applied correctly, it will be no less personal. The whole process will be more robust and auditable, you will not be reliant on the skills of a few key staff, and you will be able to provide a better service using less of the time of your most qualified staff, leaving them available for the more lucrative added value services.

PMC work closely with Compliance Process Consultants, the leaders in compliance business process re-engineering. Contact us for a free initial meeting - you will be really glad you did!