case studies
Outsourcing works
Accounting
Janielle, Kent
“When I was newly qualified into practice, I very quickly partnered up with a Chartered Accountant in order to get my practice going. A few years later I had the realisation that I was not getting the skills I needed to be able to operate my own practice. The software I was advised to use was dated and expensive and the fact that I was new to the accounting world I had no idea how I could scale the practice up to make this my one and only full-time commitment. This was on top of being a full time Mum and working a 9 to 5 job as an internal bookkeeper.”
Proposed solution
“When I was introduced to Diamond it was a god send. They taught me how my practice should be run, took over the day to day administration, compliance and all of the areas of Accounting. I can now see that it’s not about having the most clients or the cheapest clients but it is about having quality clients that I love to work with. It’s also great having such an experienced team that I can call upon for information, advice and guidance. Any problems no matter how large or small there is always somebody on hand to help me.”
Results
“With Diamond Outsourcing on board it has freed up my time. I no longer work evenings or weekends, I have more time with the family, I have left my 9 to 5 job. I concentrate on the areas of accountancy I love whilst they do the rest. We have an aligned vision to grow my practice and through help and mentoring we are growing together day by day!”
Bookkeeping
LLP, Harrow
“We started off as 3 individual sole practitioners merged into a single LLP. Whilst our vision was the same, the software that we used and the processes that we implemented varied across our respective client base. Now we are located in the accountancy Hub of London, being central Harrow. With many accountants operating the area the marketplace is quite competitive which has driven down the prices. Our client base operates in various sectors and we find that their needs can be both complex and specific. In the past we were struggling to find the right type of employees to meet our clients’ needs and stay ahead of those reporting & submission deadlines. We knew something had to change but because we were too busy concentrating on our practice, we did not have the time or resources to seek help.”
Proposed solution
“When we first met Diamond, we took slow steps introducing them into our business. In our own way we wanted to test their competence, turnaround time and quality of output. Our initial thought was to start with the most problematic areas that we struggled with, so we started them off with Bookkeeping. Then a year or so later we progressed into Payroll and finally accounts and tax production. They have proven to us that they are active and can turn around projects big or small whilst still maintaining the quality in the Diamond way. We have always been able to rely on Diamond Outsourcing to provide advice and solutions to complex matters due to the experience they have in dealing with the affairs of multiple practices.”
Results
“With Diamond Outsourcing now managing nearly all production work we have been able to reduce the number of fulltime staff we employ which in turn allowed us to reduce office space. For us Outsourcing has benefited the business both financially and in terms of quality. Our confidence has grown to the point that we now allow Diamond to have direct client contact, without any concerns about our clients being poached. We find that Diamond is a key Outsource partner who is an extension of our business, which allows us more time to focus on key client engagement and growing our business. Our CRM system, bookkeeping, accounts and tax production software’s are now integrated after listening and taking on their advice. Overall, we have made savings and improved efficiency and quality.”
Accounting
Ferguson, UK
“What a whirlwind the last few years have been. I qualified as a Chartered Accountant in industry and commerce and then latter made the transition to a Practice accountant for Small to Medium sized enterprises. The difference between the two was huge, all of a sudden, I was the sales person, the tech person, the CEO, the financial controller, the payroll clerk and a mother of two. I literately went from working a standard 9 to 5 to over 100 hours per week and its was most definitely a shock to the system. I was trying to do too much and as a result could not deliver to the deadlines or to my client’s needs. In the end I was losing more clients than I was signing up. With the pressures I was facing I tried employ new staff and outsource with other firms but again failed because they didn’t understand my business.”
Proposed solution
“I was introduced to Diamond through a friend and was amazed at what they did for me in a trial. Knowing the state of my practice was lacking that one person or team to drive the business the Diamond Army came in and took over the complete production side of the business. They dealt with HMRC, they dealt with the clients and they dealt with my practice. This meant slowly we started to get ahead of deadlines, dealt with past problems and clients stopped leaving very quickly after they joined. The software that were already integrated were not used to their full potential. They transformed the practice and made the software I was using work better for me.”
Results
“Over the last few years, I have more than doubled my practice year on year and I am loving the new way of working. I am free to take holidays whenever I choose knowing there is a fully qualified team to deal with everything whilst I am away. My business, turnover and profits have been growing and wish I had met Diamond a lot sooner. It’s not just an outsourcing firm but a one stop shop for all firms and every level. The problem with the other outsourcing firms and staff I employed was that they did not share my vision to expand. Diamond not only understood my business, they tailored an outsourcing solution to support my growth ambitions and lifestyle.”
Bookkeeping
Sole Practitioner, Oxfordshire
“I started my practice from scratch after leaving a corporate work environment. Naturally, I was excited about building my own business and making a different to small business owners. I am a sole practitioner and it was 5 years in when the business grew to a point where the workload became too much for me and my accounts assistant. It became really stressful keeping on top of all the deadlines and ensuring the work was delivered to my clients on time. I needed a qualified accountant to deliver the work but did not have the budget to hire one full time.”
Proposed solution
“It was soon after, that I met Shamir Patel at a QuickBooks Connect in London. We got talking about how he helps other accountancy practices and we arranged a face to face meeting at my office. I soon took their trial and the rest is history.
Diamond Outsourcing allowed me to delegate the accounts production work and take pressure off my team as and when needed. They complete work to a high standard and always meet our agreed timescales. They are super responsive, and I love that I can discuss technical tax matters to clarify my own understanding with a fellow chartered accountant.”
Results
“With the extra capacity our business has continued to grow. We spend less time moving figures around and more time ensuring our customers really understand the accounts to make a difference in their business. We’ve been working with Diamond outsourcing for 2 years now and I have continued to recommend them to my peers.”
Payroll
Violet, London
“When I came to the UK I qualified as a chartered accountant and took the route of starting my own business. I went into practice about 10 years, and throughout this time the business went up and down due to the change in vision. These were exciting times when the world was my oyster and I could take the business in any direction I wished, although I was in a position where I really needed to build the business to a point where I could commit greater time and resource. In the meantime, I started working for other accountancy practices to fill the gap and I became comfortable so I started to forget about growing my own practice.”
Proposed solution
“About 2 years ago, I was introduced to the Director of Diamond Outsourcing who showed me a better way of doing things and introduced different revenue streams into my business. I was once again motivated to get my practice off the ground and started to implement some of what I had learned. Diamond worked with me to find a way for us to work together on projects and act as my overflow. Whilst I am still the main accountant, they are there for me and guide me to get the best results for my clients.”
Results
“I now have a practice that is growing steadily and have the ability to fit my work around the lifestyle I choose. With the expertise they have I am more confident in signing new clients in different industries and markets. My only regret is that I never implemented Diamond years ago.”
Make outsourcing work for you
Whether you’re a finance director in business or an accountant looking to broaden your offer to clients, we can help.