A focus on freelancers and contractors
BroomeAffinity supports contractors and freelancers and switched to using FreeAgent in March 2015. They operate nationally but their client base is concentrated on the main Finance and IT centres in Edinburgh and Glasgow, as well as the Oil and Gas industry in Aberdeen and Grangemouth.
Frustrated with spreadsheets
Before they started using FreeAgent they worked with their clients using a variety of Excel spreadsheets. “This was frustrating as we had to react to client enquiries and there were a number of functions that required manual updating and often duplication”.
Adding more value
BroomeAffinity are already seeing the benefits. “We’re able to focus more on adding value rather than compliance. Clients also seem happy with the system. We found the transition to FreeAgent fairly straightforward and we were well supported with onsite training and by the support team”.
There have also been efficiency improvements with FreeAgent. VAT returns are simplified and annual accounts take approximately 70% less time to do. Lead times have significantly improved and BroomeAffinity regularly finalises accounts within two weeks of year end. On one occasion accounts were approved and filed within three days of year end.
A period of growth
Their plan is to convert all of their clients to FreeAgent over the next few months. They want to grow to 1,000 clients within three years and “we see the FreeAgent partnership as key to this development. We can see that the client/staff ratio can be kept down so we expect to be able to maintain, if not improve on, our current net profit margins”.
Alan Broome, Managing Director
Practice name: BroomeAffinity
Age of business: five years
Size of business: 400 clients
Number of partners: one