How Private Equity Evaluates Accounting Firms Based On Practice Management Tech

Running an accounting firm is harder than ever. Staffing shortages, rising expectations, and nonstop admin work create bottlenecks. In this interview, Solutions Group shares exactly how they simplified operations, improved collections, and scaled with Canopy while attracting investment from private equity.

How One Accounting Firm Streamlined Work, Billing, and Growth With Canopy

Accounting firms face increasing pressure to improve client experience, reduce admin hours, and modernize recurring work. Solutions Group provides a real example of how a single practice management system helped them improve workflow accuracy, accelerate collections, and prepare for private equity level growth.

1. Private Equity and Scalability Requirements

Private equity teams evaluate workflow maturity, scalability, and operational consistency. Solutions Group already had structured workflows, communication systems, and automations in Canopy, which removed the need for system changes and supported their growth plans.

2. Universal Workflows Across the Firm

They created templates for onboarding, monthly services, tax preparation, and tax planning. The management team reviews and improves workflows each quarter so the firm stays efficient and accurate.

3. Faster Billing and Faster Cash

After moving all billing into Canopy, the firm cut average collections from about 60 days into the 20s. Automated reminders reduced AR follow up time by roughly 50 percent and made invoices easier for clients to pay.

4. Smooth Implementation for 2,000 to 2,500 Clients

The firm migrated thousands of client records including names, emails, phone numbers, and historical information. With Canopy’s implementation team, the process finished weeks ahead of schedule.

5. Hard ROI Through Realization Reporting

Realization helped identify scope drift and performance concerns. According to the firm, this saved tens of thousands of dollars in recent months.