Professional business and tax consulting services
Many firms offering professional business services are being challenged today — by competition, retention of associates and clients demanding more for less. Whether you are a consultant, provide technology services, information management, market research, legal or other professional business services, you need a strong partner to guide you with tax planning, human capital challenges, retirement planning, financial and practice management resource needs. We can help you create an actionable business plan, get you set up on cloud accounting software or provide outsourced bookkeeping services.
If you are just getting started in the professional business services sector, we can advise you on setting up the appropriate company structure. Selecting the right structure is important as the way you choose to incorporate may have financial implications as your business grows. Our professional business services consultants understand how to determine which one is right for you to help minimize the tax burden and maximize profits in the future.
What We Do
Our services include:
- Tax planning and compliance
- Financial reporting and business assessment
- Merger and acquisition assistance
- Business valuations and transaction advisory services
- Wealth and retirement planning
- Employee benefit plan services
Key metrics for professional services
We understand the critical metrics to successfully manage a professional business services organization.
Client service costs
The cost of serving a client is an important professional services metric that should be monitored closely. This includes all of the regular fixed costs such as rent, payroll and utilities in addition to the marketing expenditures to bring a new client in the door and maintain them.
What is the longevity of your client relationships? Often a firm’s best prospects are its current clients. This metric requires you to look at how you are managing key client relationships. Oftentimes, 20 percent of clients generate 80 percent of the revenue.
Understanding the impact or contribution each respective area has on the firm’s bottom line is an important part of evaluating profit. One area of your firm may be more profitable than another, and the same is true of clients.
Marketing expense as a percent of revenue
Some firms tend to limit marketing to personal networking and the management of a website without considering what truly differentiates their brand in the marketplace.
Technology expense as a percent of revenue
Technology spending includes computers, software, hardware, mobile devices and secure client portals, which often exceeds marketing expense.
This professional services metric compares how much a firm works in billable hours with what it realizes in earnings.
Utilization of staff
Considering the available hours your staff have to perform client work, are they fully utilized or do they have excess capacity? Understanding the capacity of your firm to handle new client projects is critical to serving clients well as you grow.
Meet Our Professionals
Employee Benefits Consultant
Steve has spent over 30 years as an employee benefits consultant. He has provided plan consulting for employers of all sizes and in multiple industries. In addition, Steve has considerable expertise in legislative issues impacting healthcare reform. He was directly involved in the implementation of SB 152 and SB 98, significant health insurance reforms in Oregon…
- Employee benefits
- Professional services firms
Looking for Support?
Are you a benefits recipient or looking for help with your client account? Send us an email at firstname.lastname@example.org
Have a question?
Contact us to speak with one of our advisors.