The Power of the Labor Efficiency Multiple as a Performance Metric

Of all the metrics governing financial performance, we need to put a spotlight on one in particular: your Labor Efficiency Multiple (LEM), sometimes also referred to as the labor efficiency

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How to Manage Overhead Cost Before It Gets Up to Your Neck

As a metric, overhead refers to any costs that aren’t directly needed to service a client. Employee utilization and pricing are directly tied to overhead cost. Essential and Nonessential Overhead

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The Impact of Customer Acquisition Cost on Profitability

One constant in running a professional services organization is the constant need to acquire new business. Whether a professional services firm’s revenue is project-based, recurring monthly, or something in-between, the

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The Emperor’s New Clothes: A Tale of AI for Bookkeeping and Accounting

What’s with all this talk of Artificial Intelligence (AI) in Bookkeeping and Accounting? For the most part it is just that – talk. AI, machine learning, bots and automation are

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How Pricing Might Be at the Root of Your Financial Challenges

Does your firm have an efficient pricing model? Are the full spectrum of industry conditions being assessed in your firm’s pricing calculations? And is each team member’s talent being fully

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How Employee Utilization Drives Profitability for Professional Service Firms

Across the professional service industry, firms of all sizes have a perennial and ongoing goal: Get more productive! And it turns out, someone is listening. The Wall Street Journal reported

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How the New Revenue Recognition Standards Could Impact Your Company

Changes are coming to the revenue recognition world. To put that more accurately, revenue recognition changes are already in place for public entities, but for us private companies, the clock

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The SMB Owner’s Guide to Navigating the Tax Cuts & Jobs Act

With 2018 bringing the most sweeping changes to the U.S. Tax Code in a generation, there’s still a lot of uncertainty and confusion heading into year-end and the beginning of

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The Most Important Criteria for Selecting an Accounting Agency

We're proud to be on Expertise.com's list of top accounting firms in the Boston area. Of course, we believe that outsourcing your bookkeeping and accounting makes a lot of sense, but we know it can be hard to figure out what you're looking for in a provider. So here are some tips to help you figure out who's a good match for your company.

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4 Times Accounting Errors Cost Big Companies Big Money

It’s no secret that companies make accounting errors all the time. Some of those are the result of fraud, but even when everyone is acting in good faith, mistakes can happen. As a reminder of why it's important to make sure your accounting is done right, here are four big companies who felt the pain of basic accounting errors.

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