Implementing Value Added Services
It is an obvious statement to say that the accounting world is changing. I don’t know exactly what the future will look however the trends are clear. These trends include :-
These are just some of the forces affecting accountants and bookkeepers. But rather than just saying “woe is me” I believe that there are real opportunities.
Recently on a business facebook group I saw post by an owner of a business turning over approximately $5 million per year ask for recommendations for a new accountant. In her post she stated she wanted somebody to help her and her husband make informed decisions about growing their business. This is not uncommon. Business owners of today are wanting faster, more reliable information and somebody to help them make informed decisions. Yes the compliance has to be done but the value sits in the transformation.
Now let’s return to the facebook post. The interesting thing was then the comments that followed. There a number of people recommending their accountant but without much detail given as to why they were good. Then there were the responses by the accountants which is where it got amusing. Most would say something like either “we can definitely help you lets talk” or “you sound like our ideal client here is a way to book an appointment”. The accountants were not giving the business owner any reason to talk to them either. So both the people recommending their accountant and the accountants themselves were not clear on why or how they could be of assistance to the business owner. I know it was facebook and thus harder than in a face to face situation but still they did not even try.
No accountant posted something like ” we help our customers (maybe even say what type of customers) solve these problems (name two or three) in this manner (brief explanation of how). If that sounds like something that would be of interest lets connect”. It was a position or arrogance coming from the accountants that people should just talk to them because they said they are good. (sorry about the rant).
Customers (clients) of today want their accountants to :-
But it is not just information. Many accountants are using various KPI /Business Intelligence software applications however I feel that all they are doing is adding more information. It is not the fault of the software applications but rather how they are being used.
Accountants are numbers people and through this can humanise the numbers for their clients. Give the numbers meaning. This is where you can start with the management reports, utilise the KPI reports, measure what really matters, cashflow management through accountability to ultimately insight. This is where the real opportunity lies and clients are demanding it. They want accountants to help them make informed decisions about growing their business.
This opportunity is why I am conducting a webinar on March 2nd (12pm Brisbane, 1pm Sydney / Melbourne, 3pm NZ) about how to move from Information to Transformation. To register just click here.
In this online workshop I will be go through how to take advantage of this opportunity and implement these value added services. This webinar is very practical, full of detail how-to tips to make this a reality.
Specifically we will cover :-
1. The 9 stages of moving from Information to Transformation
2. How to start implementing these services in your firm
3. How to communicate the value of these services to your clients
4. How to price these services.
The key to make these services work is that there is system. It can’t just be done on an ad-hoc basis but rather it is important there is a systematic approach to delivering these services. We will talk about this aspect in detail in the online workshop.
I look forward to talking to you about this real opportunity for progressive accounting professionals. Register Here Now