The Rise of Business Advisory Sevices
Accountants Minute 422
The landscape for accounting and bookkeeping firms is changing rapidly. Compliance-only models are under pressure. SME clients expect more than tax returns – they’re looking for trusted advisors who can help them survive, thrive, and scale up.
Forward-looking firms are already expanding their offerings into Business Advisory Services – and those who don’t risk being left behind.
Why Advisory is No Longer Just Optional
Businesses today face challenges far beyond tax compliance. They need practical, ongoing support in areas like:
Strategic Business Planning: guiding leadership teams to set clear direction with actionable business plans.
Predictive Accounting Reports: budgets, key drivers, cash flow forecasts, and projected balance sheets – the financial interpretation of the business plan.
Performance Monitoring: weekly profitability reporting to spot issues before they become costly mistakes.
Business Health Checks: ongoing KPI and metrics analysis to identify risks and opportunities early.
Cash Flow Management: debtor analysis, stock turnover, capital expenditure planning, and financing strategies.
Funding Guidance: supporting SMEs through loans, Early-Stage Innovation Company (ESIC) capital raising, Crowd-Sourced Funding (CSF), or Section 708 Corporations Act pathways.
R&D Compliance Support: helping clients claim the benefits of innovation while meeting reporting obligations.
These are the services that truly drive SME performance – and the very services larger businesses expect from a CFO. With today’s technology, your firm can provide the same level of support through Virtual CFO Services – without the overhead.
The Warning Signs Are Clear
At XEROCON 2022, then Tax Commissioner Chris Jordan warned firms bluntly:
Similarly, Mark Wickersham FCA, a global leader in value pricing and AI, has forecast:
“Before the end of this decade, compliance work as we know it today will disappear.”
The message is undeniable: firms must move beyond compliance, embrace advisory, and differentiate through value pricing and technology – or risk irrelevance.
The Opportunity for Your Firm
Business Advisory Services don’t just future-proof your firm. They also:
✅ Create new revenue streams
✅ Deepen client relationships
✅ Enhance talent attraction and retention by offering challenging, meaningful work
✅ Position your firm as a strategic partner rather than a commodity
This is where ESS BIZTOOLS steps in.
How ESS BIZTOOLS Can Help
Developed by Peter Towers, a highly experienced Accountant, CFO, and Advisor, ESS BIZTOOLS provides the complete framework for firms to confidently deliver advisory services.
Our ready-to-use product packages include:
Financial Forecasting Package: budgets, cash flows, projections, and performance metrics.
Advanced Business Advisory Package: everything you need to implement structured advisory solutions.
SME Success Accelerator Package: tools to help your clients scale while keeping their financial foundations strong.
With 1,000+ resources, templates, and client-ready materials, ESS BIZTOOLS ensures you don’t need to “start from scratch.” You can deliver real value immediately – while saving time and building confidence in your advisory offering.
Take the Next Step
The clock is ticking. Compliance margins are shrinking, but the demand for advisory is growing. Don’t wait until your clients turn to someone else.
EXPLORE ESS BIZTOOLS AND SUBSCRIBE HERE
If you’d like to discuss how advisory can fit into your firm, we’d love to hear from you.
Visit our website – www.essbiztools.com.au – to discover the detailed overview of the services provided by ESS BIZTOOLS. You are also welcome to contact us on 0418 190 181 or email .
Free Webinar by ESS BIZTOOLS
Advisory in the Age of ATO Digital Transformation
📅 Wednesday 10 September 2025 | 11am AEST
Turning Tax Into Strategy: The New Advisory Edge
📅 Wednesday 17 September 2025 | 11am AEST
How to Sell Advisory Services with Confidence
📅 Wednesday 24 September 2025 | 11am AEST
ESS BIZTOOLS Podcast
Profitability isn’t a matter of luck—it’s the result of smart, deliberate strategies. In this episode of the Accountants Minute Podcast, Peter Towers, Managing Director and Founder of ESS BIZTOOLS, unpacks why pricing is one of the most critical levers for small business success.
Peter challenges the traditional “historian’s role” of accountants, urging professionals to step forward as trusted advisors who help SMEs set charge-out rates, create budgets, and monitor performance in real time. Drawing on years of experience and insights from industry leaders, he highlights why so many SMEs are struggling – and why accountants must do more than prepare tax returns after the fact.
You’ll discover:
✅ How to guide clients in calculating charge-out rates that truly reflect costs and profit goals.
✅ The importance of ongoing KPIs, cash flow forecasts, and performance reviews.
✅ Why SMEs need proactive advisory – not retrospective compliance.
✅ Practical ways to use tools and calculators that take the guesswork out of pricing.
If your clients are undercharging, guessing their margins, or missing key performance indicators, they’re not just at risk – they’re running blind. This episode shows how you can step into the role of “profit partner” and deliver the strategic advice SMEs are crying out for.
CLICK HERE TO LISTEN TO OUR PODCAST
Listen to more Accountants Minute Podcast episodes here
Want to know more?
Visit www.essbiztools.com.au.
If you would like to have a discussion about how this concept of virtual CFO services can be supplied by Australian accounting firms please ring our Managing Director, Peter Towers, on 0418 190 181 and we will arrange a complimentary 45-minute Zoom meeting to discuss your firm’s position and to give you our advice.
We believe that this is the blueprint for the delivery of an enhanced range of services by Australian Accounting and Bookkeeping firms to assist SME businesses to add value to their businesses and to assist accountants and bookkeepers not only to attract but to retain outstanding talent who want to be involved in the delivery of “real accounting services”.
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