Why Is TBOS More Expensive Than a Local Accountant?
There have been many occasions where a recruitment agency has come to TBOS to enquire about our services to see if we can help them.
We start the discussion by asking whether the agency does permanent or contract placements (or both), which industry they work in and their existing numbers and growth plans over the next 12 months. The answers give us an idea of the costs for our TBOS service as our fees are based on the number of permanent placements and weeks worked by the contractors.
We then ask how the current back office and accountancy processes are being completed so we have an idea of what processes are in place and how our service will interact.
Many of these agencies will have the Director internally doing much of the back-office functions such as invoicing, payments, credit control and sometimes the bookkeeping element on an online accounting system. They will then have a local accountant who completes their VAT returns and year end accounts from this data.
When we give the pricing for our service the Director can be dismayed that the TBOS costs are higher than what they are paying for currently.
We then have to inform them that the time they themselves have been spending doing many of the manual back-office tasks will be handled by the TBOS team every day; which means the Director can spend more time recruiting and growing their business. TBOS will also take over the accountancy side from their existing local accountant and also complete the bookkeeping element (correctly) plus provide monthly management accounts which many agencies are not currently receiving, or are getting quarterly figures instead.
The last main difference is that TBOS only looks after recruitment agencies whereas a local accountant would be looking after “the butcher, the baker and the candlestick maker” and may not have the specialist knowledge on the industry.
When we let the Director know about all of these points they often see the additional value in paying for our service and are happy to come on-board.
If you would like to see how TBOS compares to your current solution in both service offering and price, then please give us a call and we would be happy to help!
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