Marketing Agency Gains Control of Profit With Cloud Accounting
If you feel like you’re losing control of your accounting numbers, gain control back with cloud accounting!
Cloud accounting has many positive aspects to it. One of the many is to have current and accurate financial numbers. See the example below of how Mary took control of her finances back using cloud accounting and put her business back on the right track.
Mary runs a digital marketing agency with a small team that serves business clients seeking to optimize their potential customers’ experience in interacting with their websites and social media platforms. As the business started to grow, Mary had neglected the financial aspect of her business and found that although sales were increasing, profitability was not.
At her year-end accounts sign-off meeting, it was clear from a discussion around a three-year business performance review for her operations that she was making bad pricing decisions because she did not have access to meaningful and current numbers. As a result of that discussion, Mary agreed to move onto a cloud accounting solution.
Once set up and configured, she was then able to quickly reconcile all of her bank transactions every morning, see what was in the bank and what was due to come in and go out and also track important gross profit margins for her main products and services. In turn, her accounting firm was able to keep an eye on those numbers with shared access to the live accounting file. This shared access allows her accounting firm to alert her when anything goes off track so she can make adjustments quickly and get back to running her business.
Mary now feels so much more in control of her business. As a result of having timely and accurate information, she has been able to adjust prices so that she makes the margins she needs to achieve her profitability goals. Interestingly, as a result of increasing her prices, her team has become even more focused on creating value for their clients, resulting in a true win-win situation.
If you feel moving to a cloud accounting solution could be helpful for your business, contact us, Bressler & Company CPAs, and we’ll be in touch to discuss how we can help. Call 559-924-1225 TODAY!