Assisting businesses in an approachable way

542 Partners
Stuart Brandman, Director

I've been accounting since I was 18 and worked in mid-tier accounting for 10 years. Once my fellow directors and I saw the light (or should I say cloud), the last 4 years have been spent building 542 Partners to be at the cutting edge of modern accounting service.

A Bit about 542 Partners

542 Partners is a boutique firm located in Cronulla, Australia. We mostly live and work by the beach, and bring a relaxed and approachable service model to our clients. We work with approximately 500 clients and have expanded rapidly over the 4 years since we opened shop. With 10 staff and 3 directors, we are well situated to assist a broad spectrum of clients and business types.

542 Partners Meets Practice Ignition

We started 542 with Practice Ignition. It was literally our first tool deployed, as we all knew the frustrations of manually issuing engagement letters. We jumped on Practice Ignition Payments as soon as it was available, as we were previously collecting payments via Eway, which was not linked to our invoicing platform (Xero), which Practice Ignition facilitates.

The Impact

  1. Smart Proposals - From day one, the smart proposals brought an element of simplicity, ease of tracking and differentiation to our firm.

  2. Automatic Payments - Automatic payments just makes sense. To round of the full circle, from proposal to acceptance, to invoicing, scheduling then payment, it just works. Far less time spent on admin and the onboarding process saves us valuable time - time that is better spent giving value back to the clients.

  3. Business Insights - Forecasted cash flow is fantastic. Business insights provided via the dashboard are terrific in monitoring KPI's critical to our model of accounting. Outputs rather than inputs.

  4. Scope Management - The ability to set estimates are great, adjusting services and scope on the fly is easy too.

  5. Process and Compliance - The process established through Practice Ignition makes it easy for all our staff to have a universal understanding of service prices and expectations. It helps to standardize among the entire office.

  6. Integrations - The integration between Practice Ignition and Xero and XPM is seamless. Our invoices and workflows are effortlessly synced, saving us admin time better spent providing value to our clients.

Pro Tip

Don't go half in. Embrace PI as your platform and really get the rewards. With only some proposal or some payments on PI, you aren't getting the benefits, as there will be twice as such admin, confusion for staff, and the insights and analytics will be meaningless as they contain incomplete data.

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