The big question is…
Business Advisory Services Update
Can accountants diversify some of their services from a compliance dominance to being able to offer a virtual CFO service to their SME clients?
There is an opinion that some accountants are very busy. It is rumoured that some firms are still catching up on 2022 tax lodgements, and that accountants haven’t got the time to devote to offering advisory services, even though there appears to be market demand for Business Advisory Services.
It is interesting that Trevor Marchant, the Developer of “The BOSS factor Library”, said that interest in his new service, “The Referral Code”, is attracting a growing number of accountants who are wanting referrals to quality clients – presumably seeking Advisory/CFO Services.
This is one of the trends in the market that Andrew Geddes was referring to in a recent podcast – “having an understanding on what is happening in the market.”
“There are changes occurring in the marketplace driven by digitisation, robotics and artificial intelligence.”
“Accountants and bookkeepers need to be monitoring these developments and looking for an opportunity in the marketplace.”
This could be framed as a question, “Who are my more receptive clients and how can I help them by offering them more than what I am now?”
The other trend is that accounting team members are wanting more interesting and challenging work. Andrew Geddes commented, “That in a couple of progressive accounting firms that he is consulting to, they have young people learning how to drive Predictive Accounting Reports, prepare business valuations and create useful financial reports, so that they are able to get alongside their clients and discuss ways to improve their business.”
Want to know more how your accounting/bookkeeping firm can capitalise on this new era? Contact ESS BIZTOOLS on 1800 232 088 or email .
