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run [ ]

“lean, forward, and run”

The name ‘run’ was chosen for the imagery it conjures of lean operations, forward-thinking, lightness, and speed. Additionally, the use of brackets in ‘run[Accounting]’ gives an idea of a programming language. It signifies automation, accuracy, and speed. Running accounting should be as simple as hitting a start button. That is how we structure our streamlined services. Run is also about forward-leaning which signifies our service plans embedded with strategy, projections, and planning.

The solution introduced by run[ ] is designed to disrupt the market. By automating the accountant and bookkeeper’s role in any organization of any size, companies can now access an ‘outsourced CFO’ service. This means that for the cost of hiring a small business accountant, SMEs will regularly receive expert advice from experienced and knowledgeable consultants, as part of their finance package.

Run Accounting was established by Maaz Afridi, a Chartered Professional Accountant based in Toronto, Canada. Working in accounting, taxation and advisory for SMEs, Maaz constantly saw that inefficiencies which were increasing costs for both the business owners and accountants were due to poor record-keeping processes, delayed information, and limited communication.

“WE HELP BUSINESS OWNERS TO OVERCOME CHALLENGES BY EMPOWERING THEM TO MAKE DATA DRIVEN DECISIONS, WITH THE HELP OF ADVISORY”

Combining smart technology and accounting professionals, run [Accounting] takes care of the bookkeeping work for the SME and delivers on accurately reconciled monthly accounts, so they can have meaningful conversations with their run advisors about the things that matter like business performance, strategy, and tax planning – not accounting

“run [Accounting] IS DESIGNED TO TAKE CARE OF THE ‘NON-VALUE ADDED’ DATA ENTRY AND RECONCILIATION WORK. WE ARE IN THE BUSINESS OF BRINGING THE ACCOUNTANT AND SMES CLOSER TOGETHER AND FOCUS ON TALKING ABOUT CURRENT BUSINESS ISSUES, NOT HISTORIC ONES.”

Our Story

Having worked with SMEs for over 10 years, one thing that we heard repeatedly was complains about their accountant not being Proactive.

When asked to explain more, usually the response would be “My accountant helps me look in the past, but I want to know where I am heading”. Or “I want someone to help me set financial goals, use my financials to make decisions, help with cash flow, improve my profit”.

To that we would explain that this is not the fault of your accountant as that is just not the service they provide and neither that is their job. In fact, your accountant probably is proactive when it comes to tax structuring and compliance.

What these business owners are looking for is not what you get from a typical small business accountant. Instead of a new proactive accountant, they needed a different type of accountant altogether. A different kind of service.

Mostly small business accountants are tax practitioners and perform compliance work. They specialize primarily in this field of accounting.

Tax is calculated on historical financial position, not on future growth. That is why most tax accountants look backwards. You do not pay tax on potential – so there is no reason for your tax accountant to look forward.

A New Type of Accountant

Large businesses typically engage with more than one accountant for their business.

Besides having an accountant to manage tax compliance, they have other forms of accountants such as financial accountants, financial managers, management accountants and CFOs.

The role of these accountants is focused on the future growth and financial operations of the company. They do business financial planning, developing, and reporting on KPIs, cash flow management and forecasting and providing insights to the owners and managers on what the numbers are saying. Ultimately, the goal is to leverage these insights to improve profit, cash, and financial value of your business.

Overall, there is a big difference between a commercially minded CFO and a tax accountant.

Indeed, they are both technically accountants. But your tax accountant’s focus is tax compliance.

The CFO’s focus is on driving financial performance. These are completely different frames and capabilities.

We decided to form run[Accounting] to address this void in the SME space. We combine tax compliance and  CFO expertise in one single service package – empowering business owners to make data-driven business decisions.

Yes, we are accountants, but we don’t only do your tax returns.

So, next time you’re thinking about why your accountant isn’t proactive – just be clear about what you’re looking for. Rather than replacing your accountant, it’s likely that you need a different type of accountant altogether.

tax accounting  vs  run[Accounting]

Tax Accountant

  • Tax Compliance
  • Tax Structuring
  • Tax Advisory

run[Accountant]

  • Commercial Advisory
  • Financial Governance
  • KPI Analysis
  • Reporting & Systems
  • Financial Budgeting & Forecasting
  • Tax Consultant
WHERE DO I FIND A STRATEGIC FINANCIAL ACCOUNTING SERVICE SUCH AS RUN[ ]?

It’s rare to find this type of strategic financial accountant in the small business space.

Mainly because they come with a hefty price. Many small businesses cannot justify the costs of a full-stack finance team, costing upwards of $300k of fixed annual salary costs in their business. Also, it’s quite a narrow field of expertise. It takes a different approach of accounting to blend commercial and financial strategy and apply that to fast-growing business.

That is why we started run [Accounting]- a different type of accounting firm to provide the full stack of financial services – from CFO, management accounting and bookkeeping, taxation for a fraction of the cost.

With the help of using smart financial technologies we are able to cut down on time and costs of redundant tasks, allowing us to put more time on advisory and help you look forward into the future of your business.