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Our Underlying Approach
Riverside Financial Consultancy Ltd based in Hammersmith West London, was established in 1988 to help owner-managed businesses and individuals with their accounting function and tax obligations.
The prevalent attitude of most providers of accountancy services at the time was to provide an annual/ quarterly service with little or no useful information or forward tax/financial planning: and it is still very much the case.
This rather narrow ‘compliance ‘ approach did not really cater for small businesses properly. Poor advice was very commonplace and good advice was expensive especially for small businesses.
However by staying on top of financial results and with in-depth knowledge of customers and their businesses, Riverside provided a fully comprehensive accounting services for the same price or less than a normal compliance based one.
The results were often significant cost and tax savings to customers. Small businesses which had never been able to afford a decent financial accountancy service were able to confidently feel they had ‘outsourced’ their accounting function successfully and actually saved money; enabling them to devote more time to what they do best -‘running their business’.
Almost everyone is aware of the profusion of penalties now available to the authorities to levy on the tax payer or business on almost every aspect of accounts and taxation: some of these are very significant.
Customers rely on their accountants to ensure that are not exposed to this risk. However although essential, compliance in itself has no ‘value added’ for a business; it only avoids the implementation of fines and penalties and it always adds to costs.
So how do you turn the compliance ‘overhead’ into a financial benefit? The answer is to make sure that you receive financial information and the right kind of service and advice.
Approach to Service
Riverside naturally aims for the highest quality of service. But then every accountancy firm says that: so what makes us different?
It is often said that ‘an accountancy firm is only as good as the people who work in it’. Riverside prides itself on having a very well-coordinated and suitably qualified and trained team with a strong service ethos who are always ready to respond quickly. ‘No waiting time’ is one of our mottos.
All members of the team work on virtually all customers’ accounts and taxation, which means that several people are on hand to answer customers’ questions and enquiries in the normal course of events. More complex matters are quickly referred upwards to senior staff and ultimately the director. Access to staff and expertise could not be easier.
We are all well supported by the choice of software used. This gives almost instant access to the financial information needed to advise and plan taxation and other financial needs -cash flow and raising finance for example. Accurate, up to date information is the key here.
Extensive planning systems are used and constantly updated to ensure that all deadlines are met. These planners are used to ensure appropriate staff are allocated to carry out the work at the right time. The system is designed to give maximum flexibility and enable rescheduling as priorities change.
We have a reputation for reliability and quality of far more expensive firms but at a very reasonable cost. This achieved because our hourly rates are much lower than other firms.
The results have spoken for themselves:
Are you worried that you still have the right set up for you? Please call us for a quick analysis.