How this franchise accounting firm moved from data entry to advisory
How do you stimulate business growth as a franchise accounting firm? Scott Scarano of Padgett Business Services found the secret for his firm, and it stems from a bold vision for the future.
Scott started at Padgett in 2010. Over the years he experienced first-hand how the firm shifted from handling books the “traditional way” to capitalizing on technology to improve business process. Scott developed a vision of a more collaborative practice, connecting with clients on a higher cadence and implementing a fully integrated set of online accounting tools that would free up time spent on data entry and data collection.
In 2015, a client introduced Scott to Xero. He immediately saw an opportunity to simplify and streamline different workflows and knew Xero would be an integral part in achieving his business goals.
Effectively scaling a business
“Xero was a game changer for us. It was the defining moment of where our business went and where we are now,” Scott recalls. “Traditionally, accounting work for us was a lot of manual data entry.” Xero’s automated bank feeds and valuable advisor tools like cash coding allowed Scott’s team to process a year’s worth of accounting data in dramatically less time. Xero’s practice tools offered a valuable resource as well. “We had ways to manage workflow, clients and staff, and review, holistically, where we were in terms of what add-on apps we were using.”
“We could get an entire year’s worth of accounting done in less time than it would take us to do a month’s worth of accounting previously.”
Scott and his team spent less time crunching numbers and more time working with clients, interpreting financials and helping business owners make better strategic decisions to run a successful business.
From data entry to partnerships with their clients
Scott didn’t fully anticipate the number of ways Xero would improve his business. By adding Xero to their tech stack, the practice became more efficient and allowed his franchise to expand their offerings with higher valued advisory services. Conversations with clients moved from “just getting the books done” to discussing their business in real time, allowing them to make more informed business decisions and create achievable goals. That combined freedom and understanding was the catalyst those clients needed to move to a more collaborative advisory partnership, where Padgett could have a larger impact on their success.
Soon, Scott’s Padgett franchise would rank #1 among the brand franchisees in both the US and Canada.
Technology aside, the path Scott forged stems back to the vision he had from the beginning. “My real passion for this is my staff, my clients, and just the growth in general. Without loving what you do, people are not going to gravitate towards you, and I feel like that passion has really allowed us to grow as a business.”
Today, Xero is a preferred partner of Padgett and available to all USA Padgett locations.
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Source: Xero Blog