Chris Tinta CA and his team at Link Advisors in Brisbane have seen their business grow through the pandemic, and Tinta expects this to continue despite challenging business conditions. Thanks to the technology that sits behind the practice, it will be able to scale up now and in the future with ease.
Link Advisors is among the growing number of accounting practices turning to Practice Ignition to streamline their work. The cutting-edge software systemises the way accountants engage with clients right from the start. It automates everything, from new business proposals to engagement letters, invoicing, accounts receivable and debtor management.
“Billing, collections and reconciliations are automated, which saves us around 30 hours a month and helps us reduce our admin headcount,” says Tinta.
“Our business’s retainer-fee model also means our accountants don’t need to trawl through WIP reports trying to work out what they’ve done and how to charge for it, so they can focus on doing a good job for our clients.”
Picture: Chris Tinta CA.
“Accountants don’t need to trawl through WIP reports trying to work out what they’ve done and how to charge for it.”
Automating menial but time-consuming tasks, such as chasing engagement letter signatures, has freed up space in the day for Link Advisors’ accountants to really add value to client relationships. The upshot of that is more satisfied clients and an exceptionally well-run practice.
An ongoing relationship
Tinta says that many clients initially approach him because they are disappointed with the services provided by their previous accounting practice.
“The clients who work with us want to have a relationship with their adviser. They don’t just want to email through their financials at the end of the year, get them churned and receive their accounts back in the mail with the bill.
“We don’t operate that way,” he explains.” We engage with our clients throughout the year and we deliver service, value and a relationship across a 12-month period. Practice Ignition sits behind this process and all our bills go through it.”
Under Link Advisors’ business model, clients agree to a 12-month retainer fee, billed monthly. This approach means relationships are centred on how Link Advisors can help their clients achieve their goals, rather than the focus being on billing and payments.
The firm’s growth sees Tinta and his team regularly onboarding clients and Practice Ignition’s streamlined systems make this easy.
“Through these early meetings, we make sure we know exactly what the client needs and we only send the Practice Ignition proposal once the client has agreed to the approach we put forward,” Tinta explains. “Once we get buy-in, going from proposal to engagement letter is a matter of a few clicks.”
A foundation for regular cash flow
Once the business has won a new client, Practice Ignition streamlines billing and accounts receivable. As a result, the vast majority of Link Advisors’ clients pay their invoice on time and in full, which supports cash flow.
Although in some months clients need more attention than in others, Tinta says the volume of work balances out over time.
“We look at the bigger picture,” he explains. “We don’t gouge clients for calls – if they need 10 phone calls this month and then none for the next three months, it’s not in our interest to bill them through the roof one month and then reduce our billing for the next three months.
“It works itself out. Our approach means Link Advisor clients never experience bill shock.”
Find out more
Practice Ignition has partnered with CA ANZ to offer members access to the CA ANZ Engagement Letter tool within its award-winning platform.
To access the CA ANZ Engagement Letter template and start your free 14-day trial of Practice Ignition, go to landing.practiceignition.com/caanz
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