Empowering Architecture Firms to Scale Profitably
From in-house headaches to streamlined success, see how Studio 531 Architects transformed with Reach CPA.
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STUDIO 531
When you’re running a business—whether you’re aiming to scale or just improve profitability—you need an accountant who gets your unique challenges.
Jesse and Tom, the founders of Studio 531 Architects, suspected their in-house accounting wasn’t delivering the results they needed. They were right. Here’s how Reach CPA helped transform their business operations and financial health.
A VISION OF EXCELLENCE, NOT EXPANSION
Jesse started his architectural practice solo, but after five years, he partnered with Tom to build something bigger: a team of top-notch architects. Their goal wasn’t about scaling up beyond 20 employees. Instead, they aimed to become “small but mighty”—dominating Vancouver Island with their unique expertise across the public and private sectors.
With a focus on transportation, hospitality, and residential projects, they set out to build a reputation for beautifully executed designs and an adaptable, highly capable team.
Fast forward to today, Studio 531 is widely recognized as the go-to architecture firm on Vancouver Island. But back in their early days, their in-house accounting system was holding them back.
Overwhelmed by growing complexity? Discover why Studio 531 Architects made the shift to outsourcing.
PROBLEM WITH IN-HOUSE ACCOUNTING
In-house accounting can work for very small businesses. When you’re just starting out—with a few employees and simple finances—it’s common for business owners to manage bookkeeping and accounts themselves. This works as a temporary solution when costs are low and you’re unsure if you can afford to hire outside help.
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But here’s the thing: when revenue grows, so does the complexity of your finances. If your accounting systems aren’t built for scale, they’ll eventually buckle under the pressure. That’s exactly what happened to Jesse and Tom.
GROWING PAINS
As Studio 531 grew from a team of two to a team of ten, their outdated accounting processes couldn’t keep up. Here’s what they were dealing with:
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Cash Flow Struggles: Poor forecasting and delayed invoicing meant they often dipped into their overdraft by month’s end.
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Chaotic Invoicing: With no clear system for sending invoices, they faced unexpected dry spells in revenue.
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Administrative Overload: Juggling payroll, taxes, multiple project budgets, and bookkeeping on a basic Excel system became unsustainable
THE TURNING POINT
EMBRACING FINANCIAL TECHNOLOGY
The first step? Bringing in technology to streamline their operations. Jesse tapped into his previous experience with WorkflowMax (project management software) and Xero (accounting software). These tools would allow the team to track projects and finances more efficiently.
The second step? Finding the right accounting firm to implement the tools and manage their growing financial needs. After an extensive search, they chose Reach CPA.
“We did a huge search. We had a lot of options…We needed an approach that would match our want for tech...Reach CPA was the winner. They really aligned with [our] remote-solution needs. [Their references raved about them]. They had a forward-thinking philosophy [that matched ours].” – Jesse
These financial headaches weren’t just stressful—they were starting to threaten the firm’s future. They needed a change.
WHAT REACH CPA DELIVERED
The transition to a new accounting system didn’t happen overnight. Reach CPA took a measured approach to ensure success:
Smooth Transition Period
They spent a month working alongside Studio 531’s in-house accountant to understand existing processes, identify discrepancies, and correct historical issues.
System Streamlining
Once the software was fully implemented, Reach CPA optimized the firm’s financial systems, ensuring they were fully leveraging WorkflowMax and Xero.
Meticulous Bookkeeping
The team brought Studio 531’s accounts up to date, ensuring their books were accurate and ready for future planning.
Future-Focused Training
Reach CPA trained Jesse, Tom, and their team to manage costs, forecast project budgets, and schedule invoicing effectively.
THE RESULTS: A STRONGER, SMARTER BUSINESS
Today, Studio 531 operates with confidence, thanks to their partnership with Reach CPA. Here’s how their business has transformed:
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Cash Flow Clarity: Reliable invoicing systems mean most invoices are paid within 45 days, making overdrafts a thing of the past.
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Informed Pricing Decisions: Jesse and Tom now know when to charge a fixed rate and when to bill hourly, ensuring every project remains profitable.
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Efficient Systems: Cloud-based accounting provides real-time insights, enabling smarter financial planning.
By outsourcing their accounting, Jesse and Tom freed up time to focus on what they do best: creating stunning architectural designs and building their brand.
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