Practice Engine: Practice Management Made Easy

Mike Francis, Founder & CEO For a firm to grow and succeed, they need to manage customer relationships, track projects, and gather detailed reports on their employee productivity. Practice management systems are an effective way to ensure a firm is efficient and productive.

Nevertheless, the headway toward advanced practice management remains at the stage of infancy for most accountancy practices. The reasons can be manifold: the solution takes time to implement, the tools are difficult to use, or the applications are infrastructure heavy.

This is where Practice Engine has been able to make a world of difference for such firms. The leading-edge solution provider comes in with a full-featured, browser-based, device agnostic practice management solution. Practice Engine, the company’s practice management solution is designed specifically for accounting and other professional services firms (PSF) looking for a strategic product with a demonstrable return on investment.

For more than 20 years, Practice Engine has helped numerous PSFs grow effectively and improve relationships with their clients.
Over time, the company itself has also undergone several iterations of its software and matured to keep pace with the modern needs of its clients. Today, more than 13,000 professionals around the world use Practice Engine, including some of the leading companies in the US, UK and Ireland. At the same time, the solution is also popular among constantly expanding SMEs due to its sensible pricing schemes and easy scalability options.


Practice Engine helps you gain total control over your working capital and on-going customer management

Practice Engine’s success can be attributed to the diverse array of functions provided by its namesake solution, which include task scheduling, workflow tracking, managing contacts, preparing budgets, and calculating the expense. “Practice Engine helps you gain total control over your working capital and on-going customer management,” explains Mike Francis, founder and CEO of Practice Engine. The solution also has an intuitive and comprehensive time and billing system that can be used to speed up a client’s billing cycle and minimize accounting exposure. To streamline the process, the time and billing system allows a bill to be managed through a centralized dashboard, enabling practice staff to draft or verify the records, making it easier for the firm to track bills at each stage.
Practice Engine also offers paperless billing, which helps eliminate mailroom and stationery costs and at the same time improving cash flow.

When it comes to collaborating with clients, Practice Engine’s modus operandi remains focused on ascertaining a deep understanding of each customer’s concerns to deliver a solution that can help them gain a competitive edge. In one instance, a large multi-office firm, with over a thousand employees, needed better visibility into their workflow. With the help of Practice Engine, the customer was able to create data visualizations which helped them gain valuable insight into the daily operations of each of their offices. In another scenario, a customer was able to save close to $90,000 a year in terms of postage and stationery costs by moving from a manual invoicing routine to Practice Engine’s paperless billing. After implementing a digital payment option, the firm also saw improved payment times from customers.

Following this excellent track record of satisfied clients, in March 2019, Practice Engine was acquired by the IRIS Software Group, the largest UK privately held software company and a trusted provider of mission-critical software and services. With the support of its new owner, Practice Engine Systems is keen to expand its reach in North America and parts of Europe. More importantly, Practice Engine has plans to launch its “Evolutionary Billing System,” which aims to completely automate the invoicing processes for companies. With such innovative solutions in progress, Practice Engine is geared to take the world of practice management by storm in the coming years.

Company
Practice Engine

Headquarters
Hereford, UK

Management
Mike Francis, Founder & CEO

Description
Practice Engine offers fully featured and well-developed practice management software. The company combines strong technical emphasis with client relationships to retain and secure the substantial list of top firms. The company focuses on the accounting profession and provides practice management systems with its excellent integration hooks. Practice Engine offers its clients with customized products, which support the current versions of their practice management systems. The company's compact team of cross-skilled industry experts uses advanced technology to offer modern products in lesser time and budgets to their clients

Practice Engine