How to reduce risks in your own accounting practice

As accountants and business advisers, you're constantly helping clients implement best practices, especially when it comes to credit and funding.

Do you do the same for your own firm?

Many of our partners and directors are turning to Capitalise not just to support their clients, but to strengthen the financial health of their own practices too. Whether it's assessing risk when taking on new clients, improving internal cash flow, or simply understanding your firm's credit profile, we’re here to help.

Here’s how other accountancy practices are already using Capitalise to reduce risk, unlock growth, and build stronger, more resilient businesses.

Assessing credit risks for new clients & agreeing fee structures

When onboarding a new client, your firm will ensure you have complied with all the required anti money-laundering procedures, but do you also check their credit score before you agree to act?

The Capital Report provides insight into a company’s payment history and overall credit score, giving you a clear picture of a potential client’s creditworthiness. You'll get an insight into whether they're likely to pay on time, or if you'll be left chasing invoices, or writing off bad debt.

This is especially important if you are invoicing in arrears, or if you're agreeing contingent fee structures - for example, for advisory work such as raising finance, or when your corporate finance team is selling a business.

Your Partnership Manager at Capitalise can train your onboarding team to easily access and interpret payment performance and credit scores through the Capitalise platform.

Your own credit profile

While accountancy firms may not deal with many trade suppliers, maintaining a strong credit profile is still important.

Not only will this help with securing the lowest interest rates if you are borrowing from lenders, but it will also demonstrate to other potential stakeholders that you are a business with good resilience.

As credit data is widely accessible, you may also find that new suppliers, insurance companies, new employees or even future acquirers, will be checking your business credit score.

Your credit profile also identifies any incorrect information or fraudulent activity: one accounting partner of ours discovered fraudulent data had been submitted under their firm’s name through their credit profile. Thanks to our Credit Review Service, we were able to correct it swiftly.

Funding to improve cash flow in your firm

We’ve supported many accounting firms with funding for their own practice.Our partners consistently tell us how straightforward the process is with Capitalise.

One partner in particular commented that he realised he had been trying to survive on too little cash for many years. This was seriously impacting the decisions he was making for the longer term good of his practice. 

Once he had much more capital available to him, he was relieved and more confident. The firm then went on to achieve great things. He wished he had done it far earlier!

You can speak to us confidentially about the possible funding routes for your accounting practice. We'll be able to review over 100 lenders in the market to find the best product for your needs. 

We're here for you too

If you would like to discuss how we can help your practice, contact your Partnership Manager, or you can email partner.support@capitalise.com any time.