The technology sector presents some of the most interesting business challenges any accountant is ever likely to face. Unlike other sectors where there is a readily understood business model, technology companies are often at the forefront of risk taking. This is because many companies in this sector are engaged in 'bleeding edge' research and development. Years can pass before there is an identifiable revenue stream and even then, revenue might build up slowly or suddenly explode if the technology proves exceptionally popular.

Our experience suggests that technology company owners are often highly focused on developing their chosen product or service but have insufficient time or resources to manage 'the business' in the conventional sense. One of the common problems we see is a requirement to accurately record time and expenses incurred on behalf of research customers. Failure to keep adequate records can easily lead to under-recovery of costs.

We offer secure web based systems that allow technology company staff to post time and expenses in real-time. This allows the management team to view the whole financial picture.  This web based approach allows you to get information out to those who really need it. A sales person, for instance, who is tasked to resolve an outstanding account can instantly access up-to-date customer information.

Another area that causes difficulty is the UK government's R & D tax credit scheme. On the one hand, government offers a generous tax credit scheme. On the other hand, the rules are complex, sometimes requiring negotiation with the Revenue. The consequences of an incorrect claim can result in financial penalties.  We have the tax and technology expertise to help you submit your claim successfully and without error.

Developing a new product can be difficult technically, but it's also a challenge to ensure the company is managed using fiscal best practice.  We can provide support in this area because we understand the nuances of the technology sector. We offer the full range of services that you would expect from traditional accountants but with an understanding of technology that might surprise you.