CPA Firm Advisory Services

Why Benchmarking Matters: How Renew Firms Stay Ahead

Shannon Vincent
February 22, 2025
3
minute read

Hi all, Shannon here.

If you’re an accounting firm owner looking for sustainable growth, reduced workload, and increased profitability, it’s time to rethink how you measure success.

At Renew, we believe that what gets measured gets managed—and improved. That’s why we conduct an annual Bite Size Benchmark Study, giving firms customized insight into their performance against proven Model Firm Benchmarks and helping them take the right next steps.

The Power of Benchmarking

Most firms tweak things here and there, hoping for better results. Renew firms take a smarter approach—using tailored benchmarks to make decisions that actually move the needle on profit and work-life balance.

Each year, firms participating in the study:

  • Compare their numbers against top-performing Renew firms
  • Identify areas for growth and optimization
  • Set new, realistic goals based on real-world data
  • Receive tailored guidance from Renew and our community of firms

The Key Metrics That Matter

We focus on the numbers that truly drive success:

  • Revenue per client – Increasing profitability without increasing hours worked
  • Pricing strategies – Ensuring firms charge appropriately for their expertise
  • Leverage and team efficiency – Making sure the right people are doing the right work
  • Business model evolution – Moving towards a 40-Hour Firm structure that supports long-term success

What’s Next for Your Firm?

The biggest challenge most firms face isn’t finding the right strategy—it’s having the confidence to implement it. That’s where Renew’s benchmarking process comes in. By tracking progress year over year and working alongside other forward-thinking firms, you’ll gain the clarity needed to make smarter business decisions and move towards a firm that runs without running you into the ground.

Interested in seeing how your firm stacks up? Let’s talk. Schedule a quick call to learn how Renew’s benchmarking process can transform your firm’s future.

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