QuickFee, a service that allows accounting firms to bill clients through an installment plan, has recently expanded into the U.S. from Australia and New Zealand, focusing on large accounting firm networks.
The Australian company opened U.S. offices in Santa Monica, Calif., this year and already has some firms in the BDO, Moore Stephens and MGI networks on board in the U.S. But the plan is to offer its services to more firms and networks across the country.
“We’re working on some strategic alliance relationships with some of the big networks,” said QuickFee president Kyle Redding. “We work with most of the large international network firms already, so it will help us continue to offer our solution to the rest of the member firms of those networks. We’ve also got some other strategic initiatives in terms of some advisor partners, which will help give credibility to the solution outside of just the firms’ say so, but with thought leaders in the industry here.”
In Australia and New Zealand, QuickFee is already working with several other firm networks, including Baker Tilly, BDO, BKR, KPMG, Kreston, PKF, Praxity and RSM.
“We’ve done close to $100 million in lending worldwide,” said Redding.
QuickFee allows clients to pay their bills in different ways, including monthly installment plans. “The firms can offer a range of payment options,” Redding explained. “They will pretty much take payment any way. You can pay us by check. You can do a direct ACH transfer to us. Some firms might have a ‘pay by credit card’ option on their website. What we allow them to do is offer their clients a finance option to assist the client’s cash flow and allow the firm to get paid in full without putting any pressure on the client relationship. For a small and growing business that needs to preserve capital, it’s a really valuable tool for the firm to offer.”
Redding emphasizes that QuickFee would just be an option for clients. “The client doesn’t have to choose that option, but if they need time to pay, these firms aren’t banks,” he said. “They’re not in the business of lending money to their clients to pay the fees, but we are more than happy to do that in this very niche industry. We’re essentially a team of CPAs that understand this particular niche.”
QuickFee has already signed up firms in California, New York, Texas and other parts of the country, leveraging its relationships with the international firm networks. QuickFee has been visiting conferences hosted by the networks to pitch its service, along with conferences like Winning Is Everything in Las Vegas.
“We’ve been here just under a month, and we’ve got about maybe 10 to 12 firms, with new ones joining every day,” said Redding.
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