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Lucas & Co. saved $100K/year and streamlined payroll, setting industry benchmarks.
How Lucas & Co. saves $100K per year and streamlines payroll
24 September 2024
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3 minute read
In the competitive landscape of accounting and financial management, Lucas & Co. has emerged as a beacon of innovation and efficiency, thanks to their strategic adoption of QuickBooks. This case study explores how the firm not only saved $100K per year but also streamlined its payroll processes, setting a benchmark for others in the industry.
Strategic Savings and Efficiency
Lucas & Co. achieved significant financial savings by eliminating the need for a dedicated administrative employee, thereby saving 20-30 hours of admin work each week. This was made possible by the seamless integration of QuickBooks and QuickBooks Tax, which significantly reduced data duplication and transposition errors, cutting down on time-consuming administrative tasks. This integration has not only optimized their workflow
but also allowed them to allocate resources more efficiently, focusing on strategic growth areas.
Streamlining Payroll with Advanced Integration
The firm further enhanced its operational efficiency by streamlining its payroll process through QuickBooks Payroll powered by Employment Hero. This integration provided a user-friendly interface that includes features like Beam, SuperPayments, and the Swag app, which integrate seamlessly and simplify vital processes like payroll.
The integration of time and billing into the QuickBooks suite further simplified the firm's workflows, making payroll more straightforward and efficient. This holistic approach to integration allows Lucas & Co. to maintain a high level of precision and reliability in their financial operations, ensuring compliance and employee satisfaction.
Powering High-Value Advisory Services
QuickBooks Tax’s dashboard reporting allows the Lucas & Co. team to see all data in one place, helping them untangle intricate returns for high-level clients. What’s more, it also allows them to easily keep clients in the loop and offer valuable advisory services.
“When clients come in, we show them the dashboards to give them an easy-to-understand overview of how their business is performing”, Jean-Marc explains.
A Model for the Industry
The success story of Lucas & Co. serves as a compelling model for other firms in the industry. By leveraging technology to optimize their operations, they have not only achieved substantial savings but also enhanced their service delivery, proving that strategic technology adoption is key to competitive advantage in today's market.
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