From $30,000 to over $4 mil – Inspire Accountants powers growth with Ignition.
Since founding Inspire Accountants in 2013, Ben Walker has grown the firm’s revenue by millions – with 60% recurring revenue – thanks in part to Ignition’s streamlined engagement, billing, and payment processes.
When Ben Walker founded Inspire Accountants in 2013, he was looking to build a forward-thinking firm. Having seen firsthand the impact accountants could have on small businesses, he was eager to implement the most efficient systems possible, right from the start. Ben also wanted to break away from traditional accounting practices, particularly the reliance on outdated billing methods, and embrace a more modern, subscription-based approach.
Planning for firm growth
Although Inspire Accountants was small when it launched, Ben’s vision for the future required a solution that could grow alongside the firm. “I wanted to stay ahead of where I was,” he says. “So, I knew I’d need something like [Ignition] in time, and I wanted to get it in place, use it, and get the efficiency, and I could delay hiring someone to do that or to manage it … I was always looking for a solution that was a bit bigger than I was so the firm could grow into it over time.”
Seeking best-in-class technology
Beyond scalability, from the get-go, Ben was determined to equip Inspire with the top tech tools available, for everything from engagement letters and proposals to billing, payments, and tracking. “When I started Inspire, I wanted the best bits of software,” he says. “I didn’t care how many solutions there were – how many different software – but I wanted that best software to do that function – the best in class, whatever that was.”
His goal was to implement systems that would not only provide efficiency but also create a more predictable cash flow, laying a strong foundation for long-term success.
The solution: Implementing automation for streamlined growth
Ben first encountered Ignition around the time he launched Inspire Accountants in 2013. Right away, he saw it as an ideal solution to help drive his vision. “That’s the perfect software for what I’ve got in my head around subscription-based accounting,” he recalls. Ignition became a core part of Inspire’s operations, an answer to Ben’s goal of using best-in-class technology to build his firm.
One of the most successful outcomes of working with Ignition is that Ben got his subscription model, It’s All Sorted, up and running. This tax and accounting subscription covers compliance, proactive meetings, and year-round support for Inspire’s clients, with Ignition serving as the engine behind this offering. “Our subscriptions are off the charts now,” Ben says.
Cost savings
The Ignition platform has also brought increased efficiency to Ben’s firm. These efficiencies have translated into significant cost savings for Inspire. By automating key processes such as proposals, engagement letters, client billing, and client payments, the firm has saved the equivalent of hiring a full-time admin team member – an estimated cost of $70,000 annually.
Streamlining engagement and payments
These days, Ignition handles 100% of Inspire’s client engagement agreements, proposals, and payments. “We have 100% of our clients in it,” says Ben. “We have payments turned on in Ignition for 100% of clients as well.” This means clients must accept their engagement letter and enter their payment details before any work begins. This ensures a steadier cash flow and eliminates many of the payment-related headaches other firms face.
Growth through recurring revenue
Since its launch and integration of Ignition, Inspire Accountants has experienced remarkable growth. “I can’t remember a time pre-Ignition, as I started with it within months of starting my firm” says Ben. “But since 2013, we went from about $30K a year to now over $4 million in revenue”
Today, the bulk of Inspire’s annual revenue comes from recurring monthly payments.
“Every month, on the first of the month, roughly 60% of our monthly revenue just goes into the account.”
Cash flow clarity and growth tracking
One of the greatest benefits of Ignition for Ben is its ability to provide visibility into his firm’s financial health. “Where do I start with what I love about Ignition? I just know what’s happening with cash flow. I think that’s the most powerful thing,” he says. “And that comes down to the monthly recurring revenue that’s coming in.” Plus, with its business intelligence dashboard, Ignition enables Ben to keep his “ear to the ground” on key financial metrics such as cash flow, collections, and revenue targets. He can track both monthly and yearly growth, making sure Inspire stays on course toward its long-term goals.
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