IRIS Firm Management:

Because there’s more to
it than “time is money”

Why IRIS Firm Management matters

Every partner feels it in their bones when money leaks out of their accounting firm. The real problem is knowing where the money went, and why.

If this sounds familiar, you’re not alone.

With an average gap of 105 days between completing work and receiving payment (Source: NatWest Accountancy Benchmarking Report 2024), practice profitability is under serious pressure. When IRIS benchmarked 140 UK accountancy firms, we found:

37% identified time tracking as a key challenge
Only 33% tracked utilisation
76% of firms only used basic, manual, or no
WIP tracking at all

This is compounded by the growing regulatory burden brought by changes such as Making Tax Digital and evolving Companies House requirements.

Time and fees software is not enough if
you lead an accountancy practice.

IRIS Firm Management (IFM) is a configurable solution. It brings together practice management, time and billing, WIP management, job budgeting, scheduling, workflow, and financial reporting into one solution. It helps you to see what’s profitable, use resources better, and bill what’s owed.

How IFM helps prevent profitability leak

IFM provides all you need for practice management, time and billing, WIP management, and financial reporting. As a practice leader, you get real-time visibility into utilisation, capacity, scope creep and margin erosion, with workflows designed to reduce admin burden, so senior staff can focus on high-value work.

IFM user feedback has reported two to four hours per person per week reclaimed from billing admin.

IRIS Firm Management (IFM) helps you track client project finances in real-time, end to end. Backed by data, you can act before you overspend or miss opportunities to bill.

To help you turn this data into auditable action, IFM also handles invoices, payments and can integrate with our document storage solution.