Sophie Hossack of Receipt Bank joins Steve Major on the Pricing Power Podcast.
Sophie as the Australian country manager of Receipt Bank is focused on helping accountants and bookkeepers truly embed cloud technology in their practices. Sophie has worked in three of Receipt Bank’s offices around the world. Receipt Bank is an award winning software that reduces the internal costs of bookkeeping. Sophie studied English Literature at the University of York.
Automating bookkeeping making it an efficient and profitable services.
The biggest change is technology. Mobile is the key. We can manage the business by mobile.
The challenges though are :-
- changes in behaviour
- changes in roles
- changing interaction with clients
Mobile has increase the volume of transactions but also mobile has increased the expectation when communication is expected. People want instant response.
We must accept the speed of relationship.
One of the tools is utilising email ticketing of workflow. This then allows the flow of the work to the correct people.
The infrastructure of the firm needs to be reviewed in the world of mobile -from the use of apps with push notifications to email ticketing.
Automation takes away the mundane but no software exists without human interaction.
It is imperative for business to have accurate information.
- Getting sources documents
- Storing of documents
- Entry of information
Bookkeepers can scale their business because of technology.
- Hard to measure is the saving of time. The bookkeeper to client ratio is thus important.
- Efficiency of that client – still a responsibility for client to play their part.
- Monthly recurring revenue – important to track.
- Client experience – measure referrals.
- No of clients no longer fit business.
Specialising helps focus marketing efforts from fashion models to tourism.
The biggest opportunity is with scale.
Key piece of advice – if client at a pub – what would you want them to say about you
Linkedin – Sophie Hossack
Website – receipt-bank.com