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IRIS Launches Practice Management Platform as Practices Battle 105-Day Billing Discrepancies and Rising Charge-Offs

gentongbet — Wed, 13 May 2026 05:10:19 +0000

IRIS Firm Management unifies time recording, work in progress, invoicing and financial reporting on a single platform, providing mid- and large-sized firms with real-time information allowing them to grow more profitably.

London, United Kingdom, May 12, 2026 – IRIS Software Group (IRIS), a leading global provider of accounting, HR, payroll and training software, today announced the launch of IRIS Firm Management (IFM), a next-generation practice management platform specifically designed for mid-to-large UK accounting firms.

With an average gap of 105 days between completing work and receiving payment*, firm profitability is under serious pressure: in a survey of 140 UK accounting firms, 37% identified time tracking as a major challenge, with only 33% using tracking, and 76% using only basic work in progress tracking, manual or no tracking**. This situation is compounded by the increasing regulatory burden imposed by changes such as Making Tax Digital on changing business requirements.

IFM brings together practice management, time and billing, work-in-progress management and financial reporting into a single integrated solution. It provides practice leaders with real-time visibility into utilization, capacity, scope creep and margin erosion, with workflows designed to reduce administrative burden, allowing senior team members to focus on high-value work. Businesses using IFM have reported up to a 25% reduction in write-offs and two to four hours per person per week recovered from billing administration.

Modern business management

Most practice management tools were designed for compliance, not business performance. IFM fills this gap by acting as a financial controls layer on top of compliance software.

Jonathan Priestley, Managing Director of Global Accounting Solutions and Transformation, said: “Accounting practices are at an inflection point and the businesses that will thrive are those that can turn their operational data into business decisions. IFM is a demonstration of our long-term commitment to UK accountants: we have listened to them, we understand the pressures they face and we have built a solution that will evolve alongside them as they grow. The accounting profession supports businesses in every the UK economy, and these businesses deserve technology that matches the vital role they play.”

Support for diverse businesses with complex needs

IFM is available in two configurations: IFM Core designed for businesses needing foundational visibility with rapid deployment, with the system up and running within two to three weeks, and IFM Advanced for businesses with multiple offices, multiple entities, or governance complexity. Importantly, both configurations have the ability to scale as businesses grow, eliminating the need to reconfigure the platform as headcount, customer volume or structural complexity increases, while protecting margins.

Main advantages of IFM***:

Real-time information to support accurate, data-driven decision-making with improved tracking, reporting and resource allocation – with estimation five percent or more leak recovery time.

Automation recover between two to four hours per person per week for higher value-added work by reducing administrative work on invoicing, reporting and spreadsheet validation.

Boosted profitability by reducing radiation 15 to 25 percent with early visibility into scope creep and margin erosion before it’s too late.

Top 50 ranked Larking Gowen has selected IFM as its practice management platform and is considering migrating from its current system following an evaluation of leading cloud solutions in the market. Richard White, chief information officer at Larking Gowen, said: “We needed confidence in three things: a robust data migration from our existing system, extensive APIs to power our Power Platform applications and reports and connect the growing ecosystem of cloud applications across the business, and the assurance of a platform designed specifically for accounting practices. IFM delivered on all three of these criteria.”

Long-time IRIS client Morgan Griffiths LLP chose to migrate to IFM after using IRIS office solutions to manage tax, accounting, practice management, time recording and task tracking. IFM transformed the company’s operational efficiency, giving it greater reliability and control over critical functions. Director Andrew Hunt said: “Invoicing can be so tedious, which you don’t want because it ends up eating into your profits. These things should be very simple to do, and we’ve definitely achieved that now. This is IFM’s biggest success for us so far.”

Beyond daily efficiency, IFM has created a stronger foundation for Morgan Griffiths LLP to evolve. Accelerated digitalization and improved real-time data accessibility have enabled partners to recognize strategic growth opportunities. Andrew said: “I think MTD presents a huge opportunity for us, particularly in putting customers in a much better place where they get closer to real-time insights into how their business is progressing. »

IFM Core and IFM Advanced are now available – find out more here.

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*Nawest 2024 accounting benchmarking report.

**These figures come from the IRIS Discovery Tool questionnaire completed by 140 UK accounting firms who are IRIS clients.

***These figures are based on an ROI calculator that evaluates adjustable assumptions, using a combination of industry benchmarks and early adopter feedback.

About IRIS Software Group

IRIS Software Group is a global provider of mission-critical software and one of the UK’s largest privately owned software companies. IRIS provides software solutions and services to finance, HR and payroll teams, educational institutions and accounting firms that simplify processes and allow professionals to focus on the work they love. By simplifying, automating and providing insight into critical daily tasks for organizations of all shapes and sizes, IRIS ensures its customers can look to the future with certainty and confidence.

IRIS is the largest third-party online filer to the UK government. Ninety-three of the UK’s 100 largest accountancy firms use IRIS software. One in six employees in the UK are paid through IRIS payroll offerings, and globally, six million employees receive their payslips through IRIS software each month. More than 850,000 employees in the UK are managed by IRIS HR solutions. More than 12,000 UK schools and academies use IRIS, and four million parents and carers use IRIS apps to connect with their child’s school; 300 million messages are sent between schools and parents each year, and over £15 million in transactional payments are processed each month. IRIS is a Great Place to Work® certified and recognized as one of the Times 50 Best Employers for Gender Equality in 2023. IRIS is also recognized as a Best Workplace for Wellbeing, a Best Workplace in Technology, and a Best Workplace for Women.

To see how IRIS helps organizations get it right the first time, every time, visit www.iris.co.ukor follow IRIS Software Group on LinkedIn, Twitter And Instagram .

Media contact:

Jennifer Peters | News@irisglobal.com

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Putting digital taxation into practice for VAT

gentongbet — Thu, 15 Aug 2024 20:12:12 +0000

By Alan Gregory | March 12, 2019 | 4 minutes of reading

Although there has been much discussion about whether the launch of the Digital Taxation VAT project would be delayed, there are no signs of the initiative slowing down.

This means that the vast majority of VAT registered businesses will need to comply with Making Tax Digital for VAT for VAT periods commencing on or after 1 April 2019, although some entities, such as unincorporated not-for-profit organizations companies and businesses with VAT requirements will not be mandatory to comply with Making Tax Digital for VAT before October 1, 2019.

As a result, accounting firms have only a few months to prepare their clients for the changes to VAT reporting that Making Tax Digital will bring.

Below we describe how IRIS has implemented solutions to help your practice prepare for this new digital regime.

If your customers meet the VAT digitalization criteria

VAT registered businesses with a taxable turnover above the VAT registration threshold (currently £85,000) will need to comply with Making Tax Digital for VAT.

In short, this means that affected businesses will need to store digital VAT records and file digital VAT returns to HMRC using software compatible with the Making Tax Digital platform.

For accounting firms whose clients fall within the Making Tax Digital for VAT remit, we have a range of tax software and accounting solutions so you can file your clients’ VAT returns digitally with HMRC.

All of our tax and VAT reporting products have been recognized by HMRC as being compatible with Making Tax Digital for VAT and offer integrated reporting solutions which should ensure ease of reporting under the new regime.

If your customers are below the digital VAT threshold

Not all businesses will be required to comply with Making Tax Digital for VAT. Specifically, businesses that are VAT registered but whose taxable turnover is below the VAT registration threshold can continue to file their VAT returns online as usual, although such businesses may choose to join the Making Tax Digital scheme for VAT if they wish.

As not all businesses will be affected by Making Tax Digital for VAT, there will be a disconnect between accounting firms’ clients as some clients will be required to comply with Making Tax Digital for VAT while others will not. will not be.

Businesses will therefore need to decide how best to file their customers’ VAT returns, taking into account the different reporting requirements their customers may be subject to. In general, companies can choose to approach this mismatch in one of two ways.

First, accounting practices may choose to take a piecemeal approach to reporting. This would involve filing VAT returns for customers outside of Making Tax Digital’s scope for VAT in the same way as they have done before, while still filing VAT returns for those customers within Making Tax Digital for VAT using our links to compatible software as shown above. .

However, if businesses want a solution that allows them to file all of their clients’ VAT returns from one place, whether or not that client falls under the Making Tax Digital regime for VAT, there is another answer.

Specifically, IRIS will provide a transition solution to VT Software, an accounting software provider that allows VAT return data to be exported to transition software so that it can be lodged with HMRC. This means that all customers’ VAT returns can be filed in one place, eliminating the stress of filing different VAT returns on different platforms.

Prepare your clients to make tax digital

As the digitalization of taxation for VAT represents one of the biggest changes to VAT reporting in recent years, the earlier your practice can be prepared, the better.

The first step is to take the time to review your existing customer list and identify those who will fall within the scope of tax digitization for VAT, as this will help your business communicate with these customers on upcoming changes to their VAT declaration and registration. comply with the requirements.

Additionally, it will also allow your firm to understand how many clients will need to comply with Making Tax Digital for VAT, and how many clients will not need to move to the new regime. This will then give you the opportunity to decide which VAT reporting solution is best for your practice.

Learn more about Making Tax Digital and the latest updates on our insights page.

If you need further information on your customers’ VAT reporting options in the “Making Tax Digital for VAT” section, please do not hesitate to ask a member of the IRIS team for advice. You can also take a look at our new tax and accounting software for a different cloud solution.

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