Tailored Solutions for Professional Services

The Australian Professional Services industry is a significant force in the Australian economy. 

It is a fiercely competitive market where performance often hinges on greater economic performance and business confidence to drive demand for services as well as practice management to ensure operation excellence provides the relevant margins and returns required.

Keeping up with technological changes, regulations, and a volatile market while delivering exceptional service to your clients is incredibly demanding.

Thanks to our knowledge economy, this sector is a significant force in the Australian economy that is expected to grow over the next five years. 

KEY CONTACT

Kian Ghahramani    
Partner

T: +61 2 8226 4666   
[email protected]

 

Everyone needs a little help sometimes, including the professionals.You need professional support from people who understand. 

With a diverse range of advisors, RSM Australia has the right experience to provide strategic and commercially minded advice, outsourcing functions and assistance in adhoc issues that come up in day to day business. We work with: 

  • Accounting firms
  • Law firms
  • Engineering firms
  • Architecture firms
  • Other professional service firms.

How we can help: 

What worked 5 years ago, may not be aligned with how you want to work now.  And the wrong structure could result in poor tax outcomes, succession issues and an overall inhibitor on business. It may not be too late for established businesses, and we can assist in restructures to align o current strategic goals

Professional and business service firms sell time and in order to do that you need the right staff. Getting your succession plan right is critical to retain key performers and contribute to the growth of the business

All businesses have ongoing legal compliance whether it I direct or indirect tax. We work with our clients to ensure there is no surprises and plan for how best to navigate the complex regime that is the Australian tax legislation

It can be an isolating task managing the day to day needs of a business and sometime management focus on what they know best, which is the business. Have regular strategic consulting meetings with your broader advisors is not only good financial hygiene but allows for robust focus on critical issues that may need to be challenged.

The speed of technological advancement I mind boggling. And doing things the old way costs time and money. Your tech stack can be a game changer tool to ensure efficiency, allow time for value-add work and minimise error and risk. 

Integrate various business processes into a single unified system. By streamline operations through ERP, a business can enhance project management capabilities, have comprehensive financial management oversight, track resources an costs, utilise as a CRM and allow for data-driven decision-making

The process of exiting a business, whether it is by sale, IPO or merger is not so straightforward and often needs years of planning to ensure maximum value. Working with our advisors and setting long term goals and exit plans is the first step. Our dedicated corporate finance team is then able to guide you through the process of exiting the business.

 

 

Current insights impacting the professional and business services industry. 

Data privacy considerations for professional services

In an age where data, including date of birth, is considered the new oil, the importance of data privacy cannot be overstated.  

For professional services businesses in Australia, safeguarding sensitive information is not just a legal obligation but also a crucial aspect of maintaining consumer trust and market reputation.

Transforming professional services through technology

Using technology in professional services organisations can bring many benefits.
By adopting new tech, businesses can work more efficiently, make informed decisions based on data, engage better with clients, and stay ahead of the competition.

Optimise your data insights for professional services

Professional services firms must leverage data effectively to enhance decision-making, improve client services, and maintain a competitive edge. By utilising data analytics, these firms can gain valuable insights, streamline operations, and better meet client needs, ultimately driving growth and success in a competitive market.

Understanding ATO's PCG 2021/4 A: Practical Compliance Guideline

CONTACT US

Get in touch with RSM’s Professional and Business Services team