As the industry continues to grow and take shape with new technologies and practices, customers' needs are more than ever, at the forefront of accounting firms' minds. As the ways in which we work evolve, firms will be required to work harder and smarter to meet their client’s ever growing needs..
Firms such as Protektum Accounting have been doing just this for a number of years. Established in 2008, Protektum has evolved and expanded as the needs of its clients changed. Today, Protektum Accounting is home to three areas of expertise: Tax, Accounting and Advisory Services. Known for its expertise in small business and individual tax compliance, Protektum caters to customers throughout South Africa.
Protektum joins the rise of cloud-based accounting software
As the financial industry grew, Protektum Accounting witnessed a huge rise in cloud-based accounting software, and, priding itself on its customer-centric focus, the firm adapted to this change, also established a renewed focus on advisory services. During those years, Protektum Accounting remained focused on transforming its approach while also retaining its founding values.
As time went on, Protektum Accounting developed and refined a winning business model, and discovered the ways in which challenges could be resolved with intentional investment in the right technology, including cloud accounting software.
Choosing Spotlight Reporting to help with meeting client’s needs
Tinus le Roux, Registered Accounting Officer and Tax Practitioner at Protektum Accounting, shared how projecting profits during the financial year was becoming a bit of a headache. He acknowledged it was the right time to find a reliable and efficient solution to help, and that’s where Spotlight Reporting came in. With a smooth roll-out, Tinus stated that by implementing Spotlight Reporting at the firm, “Accounting became fun again.”
With the roll-out a success, Tinus noted how budgets could easily be projected and using the trends function on the Spotlight Reporting graphs helped to provide their clients with a clear picture.
Central to Protektum’s overall technology transformation is the adoption of Spotlight, a powerful tool that has not only augmented the firm's existing management accounting reporting capabilities but has also provided invaluable insights into client data.
How the right accounting software boosts client experiences
Protektum Accounting specialises in small business and individual tax compliance, but with cloud-based accounting software and the culture of advisory, the firm has shifted more into this way of thinking and applying new technologies to improve client experiences. Spotlight enhanced the firm’s already implemented management accounting reporting and highlighted clients data, including valuable and important insights.
With the implementation of Spotlight Reporting, Protektum Accounting soon found themselves able to help more clients who were facing challenges unique to their business and goals. In one instance, Spotlight Reporting's reports and forecasts proved instrumental in overcoming a client's hurdles with bank overdraft applications, due to the lack of clear financial projections. By leveraging the professional-looking forecasts generated by Spotlight Forecasting, the barriers were effectively dismantled.
By utilising Spotlight Reporting, Protektum Accounting was able to engage more effectively with clients, instilling excitement about their financial state. This helped the firm to continue to nurture their clients, and help them foster proactive problem-solving and empower clients with the foresight to address issues before they escalate.
Protektum Accounting proved to be unstoppable. As they continued to help more clients with ease, they were also grateful for the seamless integration with Xero. The firm was able to leverage the impressive data provided by Xero to further optimise financial insights and decision-making processes for businesses.
An advance in advisory services for the betterment of the firm
Spotlight Reporting has continued to make Protektum Accounting’s working lives easier, allowing them to focus on their clients and deliver impressive results. Notably, the firm has improved in leaps and bounds in its advisory services offering, gaining many new clients since adopting Spotlight Reporting. In addition, using the reporting and forecasting tool, Protektum Accounting has seen an increase in turnover by 8% with their 20 clients making use of Spotlight Reporting, all from their advisory fees.
Protektum Accounting has seen an increase in turnover by 8% with their 20 clients making use of Spotlight Reporting, all from their advisory fees.
Ultimately, Protektum Accounting advocates for other accounting firms to leverage Spotlight Reporting to make accounting more proactive and enjoyable. With its comprehensive features and seamless integration with Xero, Spotlight Reporting is helping Protektum Accounting to empower its clients with valuable insights and, in turn, to help them drive growth.
Tinus Le Roux comments on why other accounting firms should be using Spotlight Reporting, “Why not make accounting fun and proactive!”
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