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Adjusting agreements to reflect increased service levels could save the average practice more than $100,000 a year.
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Ignition feature enables on-the-fly changes to scope of work
05 December 2022
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Client engagement and commerce platform Ignition has released a service edits feature designed to allow accountants and bookkeepers to adjust the scope of their client agreements and get paid appropriately.
Accounting and bookkeeping firms were on average doing out-of-pocket work costing them $103,000 per year, according to Ignition’s recent in its recent State of Client Engagement report.
“Our research shows that 35 per cent of accounting professionals in Australia absorb the time and cost of increased scope of work themselves,” said Ignition co-founder and chief product officer Dane Thomas.
“While having a signed letter of engagement with a clear scope of work is crucial to starting any client relationship off on the right foot, we know things change.”
“With this enhanced service editing feature, accounting professionals can adjust existing services for signed client proposals and engagement letters to ensure they charge and get paid for their full value.
“It enables our customers to easily make changes to the price, quantity and billing details of their services even after the client has accepted the proposal.”
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Ignition said the feature allowed adjustments to active services without the client needing to sign a new proposal.
It would also enable Ignition users to:
- Manage changes in scope by editing active services when the scope of the project changed.
- Ensure accurate billing and payment for work by quickly making changes to the service description, price, quantity, and billing details.
- Give clients the flexibility to adjust active services if their needs changed during the engagement term.
- Notify clients of adjustments to the agreement without requiring them to sign a new proposal.
- Stay compliant with a clear audit trail of any service changes.
“When businesses sell their services in a way that is clear and makes it easy for clients to know exactly what they’re buying, both the accountant and client feel confident about doing business together,” said Mr Thomas.
Founded in 2013, Ignition has approximately 200 employees worldwide and over 6,000 accounting and professional services firms globally use its software, which integrates with QuickBooks and Xero.
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