A Midlands independent accountancy firm has partnered with a new cost management platform to help businesses identify potential savings on their utility bills – which could range from hundreds to thousands of pounds.
HB&O, which has offices in Birmingham, Coventry and Leamington Spa, will be working with Reducer as part of its Virtual Finance Office (VFO) solution for clients.
It is estimated that through the new partnership, the firm’s clients could save up to £11,000 per year on utility expenses.
Reducer connects with accounting software such as Xero or Quickbooks and analyses spend history to produce a report on cost-saving recommendations for businesses.
HB&O has already introduced more than 200 clients to the software with the aim of counteracting growing business costs with reduced expenses on electricity, gas, water and telephone bills.
Reducer is the latest added value digital tool that the VFO team at HB&O has introduced for its clients, with partnerships already in place with apps including Xero, Hubdoc and Swoop.
The VFO acts as an extension of the businesses. It delivers real-time financial information and insights to support better and faster decision-making.
From bookkeeping and VAT returns to forecasting and management accounts, the tailored service gives business owners the clarity and control of an in-house finance team, without the overheads.
HB&O has more than 100 staff and provides comprehensive tax planning, strategy, compliance and advisory services to clients, working primarily with SMEs, not-for-profit companies and owner-managed businesses.
Angelika Buciene, Client Manager in the VFO team at HB&O, said: “It is a challenging time for businesses as operating costs continue to grow, whether that is with rises in National Insurance or increasing utility costs.
“We’re proud to announce we are working with Reducer to provide important insights for clients that can help them to easily reduce their overhead costs, whether that is with phone bills, gas, electricity or water.
“By partnering with Reducer, we are taking a proactive, tech-driven approach to this challenge, with an emphasis on providing clients with real-time information to inform decision making.
“We have already seen strong demand from our clients for the Reducer service, further strengthening the bespoke offer of our growing VFO team.”
Reducer saves firms £1,851 per year on average and has already helped businesses in the UK save more than £3.6 million.
Paige Edwards, Head of Accountant Partnerships at Reducer, said: “The HB&O VFO team demonstrates a clear and genuine commitment to their clients, consistently going above and beyond their standard services to provide exceptional support. We at Reducer are delighted to partner with them in this endeavour.
“Our core mission at Reducer is to save clients both time and money. It has been a pleasure to collaborate with HB&O, who share our passion for achieving these outcomes, allowing their clients to concentrate on the many other crucial aspects of running a business, rather than managing complex utility contracts.
“We are enthusiastic about the future of our partnership with HB&O and look forward to working with them and their clients.”
To find out more about HB&O’s Virtual Finance Office solution visit www.hboltd.co.uk/virtual-finance-office/
