Managing staff attrition, knowledge retention and system migrationHow do you help an accounting firm mitigate the risks of staff attrition?
An Accounting Firm based at the Gold Coast wished to streamline their domain of operations by managing staff attrition and also optimising their knowledge base by eradicating the knowledge gaps caused by staff attrition. To embrace the future, they also were looking at moving their Accounting Operations from the conventional desktop-based accounting software to a more dynamic cloud-based accounting software.
What APT offered:
APT, before embarking towards developing a solution, did a SWOT Analysis of the problem. APT decided to provide the client with a dedicated FTE (Full time employee) on a long-term basis which would not only resolve their concerns of knowledge retention but would also help them to reduce their costs. The resulting benefit of the dedicated FTEs would also be visible in the medium to long term which would go on to provide consistency in the quality of work and services being delivered.
APT put another fail-safe in place by ensuring that the work being done by the staff is reviewed by qualified and experienced Chartered Accountants before it is sent back to the client. APT, in their quest to leave no stone unturned, not only managed the migration of their Accounting Software from the desktop based MYOB to the cloud based Xero but also went the extra mile and obtained a certification for Xero so that the client‘s confidence levels in the competence, capability and adaptability of our staff became absolute.
APT first implemented the solutions for providing outsourced book-keeping services. After achieving the highest standards of consistency and accuracy in the provision of book-keeping services, as a testament to results, the client decided to outsource the work of Self Managed Super Funds, BAS and Tax Returns.
With APT’s tailor made solution, client received the benefits of,
- Higher standard of consistency and accuracy in work
- Minimal staff turnover
- Knowledge retention
- Reduction in training cost
- Achieved cost saving by 50% compared to earlier business model with onshore operation
- Higher productivity and increased profitability
Our client, enjoying the benefits of our services, was able to concentrate on more important goals like developing their business using newly freed up resources and proceeded to grow.