Professional services firms generate US $2.1 billion in revenue with Ignition

Austin, Texas, December 4th — Ignition, a platform for professional services to get paid faster and run smarter, reveals it powered US $2.1 billion in revenue for its customers in 2023. Today, over 7,000 accounting and professional service businesses across the world use Ignition to automate and optimize proposals, billing, payments collection and workflows to run more efficiently and be more profitable. 

“2023 was a milestone year for Ignition, marking 10 years in helping to transform the way professional services firms do business with their clients. But it was also a significant year for our customers who, despite the macroeconomic headwinds, continued to grow revenue and profits, and secure their cash flow. This meant they were able to spend more time improving their business and helping clients, while we took care of the rest,” said Guy Pearson, co-founder and CEO of Ignition.

Generating revenue while protecting cash flow

The Ignition platform has evolved significantly to help customers tackle scope creep, late payments and become more efficient in a leaner macroeconomic environment. As a result, Ignition customers have realized benefits in improving efficiency, profitability and cash flow in 2023, with highlights including:

• Customers generated US $2.1 billion in revenue via Ignition
• Over 2.3 million client payments processed, amounting to more than US $1.3 billion 
• More than half a million clients engaged, with 82% of all proposals sent accepted by clients 
• 14 seconds was the fastest time by a customer to create and send a proposal to client 

Earlier this year, Ignition also celebrated ten years of transforming the way people in professional services and their clients do business together. To date, Ignition customers have generated a total of US $6.6 billion (AUD$10 billion) in revenue via the Ignition platform, and engaged over 1.5 million clients.

Launching 90+ new product features to improve firm efficiency and profitability

Over the last 12 months, Ignition launched over 90 new features and enhancements to help professional services firms minimize admin, and bill and get paid for all of their client work.  Highlights included: 

• Automatically raising prices when renewing client agreements 
• Billing and collecting payment for out-of-scope work with Instant Bill
• Creating proposals in bulk to engage 10, 100 or 1000 clients in minutes 

Championing change in the accounting industry 

Each year, US accounting firms lose US $76,636 on average in revenue due to unrecovered out-of-scope work - and this is just the tip of the iceberg. To put an end to this perennial problem in the professional services industry, Ignition launched the #CallForChange - an industry wide movement to encourage firms to stop working for free and to start charging accurately for all the work they do to reflect their true value. 

Over 100 accounting professionals in the US signed the industry open letter, to stop underselling their worth and to reclaim their profitability. Thousands also tuned in to hear from serial entrepreneur and business builder Gary Vaynerchuk, who delivered the hard truths on how to run a more profitable firm. 

For the sixth year running, Ignition also celebrated its Top 50 Women in Accounting awards, to acknowledge women who are making an incredible impact in the accounting industry. Over 940 unique nominations were received from 14 countries. Of the Top 50 winners, 40 women were first time winners from a range of different countries including Cayman Island, France, Pakistan, the United Kingdom and the United States. 

“Ignition was born from a vision that there must be a better way for people in professional services to do business with the clients and it’s what motivates us to be a force for change in the industry,” said Guy. “This year accounting professionals have shown that they are willing to embrace uncertainty and continually evolve, to uplift the profession and lead the way for a more confident, diverse and inclusive industry.”

Accelerating innovation and growth across markets 

Since 2021, Ignition has grown revenue by 2.5x and expanded its customer base to 7,000+ accounting and professional services businesses worldwide. This rapid growth was recently recognized in the Australian Financial Review Fast 100 List for 2023. Ignition also cemented its position as an industry leader in technology and innovation with recognition from G2, Capterra, GetApp and Software Advice.

To read more about Ignition’s 2023 Year in Review, visit our blog.

About Ignition 

Founded in 2013, Ignition is a platform for professional services that empowers businesses to get paid faster, and run smarter. Ignition automates and optimizes proposals, client agreements, billing and payment collection to put an end to late payments, unbilled work and mundane repetitive admin. Ignition also integrates with leading apps such as Gusto, QuickBooks Online, Xero and Zapier to automate workflows and free up valuable time. Nearly 7,000 accounting and professional services businesses globally rely on Ignition to get paid faster for all of their work, run more efficiently, and become more profitable. To date, Ignition has helped facilitate more than 1.5 million client engagements and over 8 million payment transactions. Ignition has teams in Australia, Canada, New Zealand, the Philippines, South Africa, US and the UK, with around 180 employees globally. For more information on Ignition and its services, visit www.ignitionapp.com.