Inside Public Accounting (IPA) recently named its top 50 Best of the Best Firms for 2023, and we’re proud to announce that our client, Templeton & Company, has made the list. But how exactly does a firm get named Best of the Best? IPA evaluates firms based on growth, management, and strategic vision—and we strive to assist firms in achieving excellence in all of the above. But, at Templeton & Company, and for many others on the list, there is an unsung hero working tirelessly behind the scenes. Who is this unseen champion?
Meet PracticePro 365TM. It’s hard, if not impossible, to rank in the top tier of best-managed firms in North America without a secure, cloud-based, integrated practice management system like PracticePro365. Working across disparate systems simply takes too much time and wastes too much effort. A scalable integrated solution is necessary to increase revenue, connect better to customers, streamline processes, accelerate cash flow—and to inform strategic decisions so you can manage and grow the business more effectively.
Here are thoughts from John Templeton, CEO of Templeton & Company, on how and why they enlisted the help of PracticePro 365 to work smarter and more efficiently—and ultimately, to become the Best of the Best: PracticePro365 has allowed our firm to scale without taking on additional overhead. We use PracticePro365’s forward-looking reporting module to identify issues and opportunities in real time which has had a significant impact on our ability to drive growth and improved internal communication. The integration of CRM into PracticePro365 creates a “client-centric” approach to practice management which is an extension of our firm’s “client-centric” culture.
Growth—PracticePro 365 has a native CRM platform. This enables us to drive growth and collaborate on new business opportunities across service lines and manage client accounts—all within the same system. With PracticePro 365, prospect accounts seamlessly become client accounts when business is won. This provides high visibility and eliminates duplicative administrative work since there is no need to create client accounts in separate CRM and practice-management systems.
Management—As a unified solution, PracticePro 365 captures prospect and client data; time and billing entries; project management; and workflows in a single system. Managers can access its powerful dashboards to view and react in real-time to staff productivity, firmwide profitability, and critical project information. In short, it’s our single source of truth.
Strategic Vision—PracticePro 365’s unique and powerful forecaster illuminates possibilities and probabilities for active and future projects both at the engagement and staff levels. This enables us to monitor profitability and productivity by engagement as well as for each staff member. Armed with solid historical and forecasted information, strategic decisions can be made with confidence.
While a unified practice management system like PracticePro 365 won’t automatically put your firm at the top of the list, it can uplift almost any performance metric by informing management’s decisions with real-time, actionable insights. IPA’s Best of the Best share many common characteristics. We, and others like us, have found that embracing a scalable, unified practice-management platform like PracticePro 365 can be the secret to rising above.