Diversifying Services - What Is Your Firm’s Strategy

Accountant's Minute 274

The CommBank Accounting Market Pulse report released early in May 2021 identified that the firms that the review team had identified as “leading firms” are “looking to boost staff numbers which reflects their intentions to grow both traditional accounting service lines and diversified services in the coming year”.  These firms indicated that “they are preparing themselves for increased activity in tax consulting and tax compliance, as well as Business Advisory Services, Risk Management, Property Advisory, Cyber Security/Technology Consulting and External/Statutory Audit”.

“Across-the-board, 71% of firms will be channelling more effort this year into diversifying their offering beyond traditional accounting services.  Only 2% of firms have no such plans, down from 11% 3 years ago”.

The survey identified that Business Advisory Services was the highest rating news service line entry and growth with the proportion of “leading firms” that were planning to enter, or significantly grow, service lines in the next 12 to 18 months being 81% of those firms.  67% of the firms identified as “lagging firms” had also developed diversification strategies targeted at Business Advisory Services.

ESS BIZTOOLS has decided to reach out to accounting firms that are yet to make the commitment to identify with Business Advisory Services by inviting them to consider subscribing to our special Business Advisory Services Starter Package at an upfront discount price of $999 (incl GST) for 12 months for firms who subscribe by 30th June 2021.

The Business Advisory Services Starter Package will enable you to start delivering Business Advisory Services to your clients within a few days of making your subscription.  The system includes:

  • Special Training Package - 13 modules.
  • Access to 343 papers on a wide range of subjects targeted at SMEs that you can badge and send, or sell, to your clients.
  • 12 pre-prepared, ready to use, seminars/webinars to inform your clients that you are proactively offering a range of diversified services.
  • 4 modules within Client Mentoring and Coaching to assist you to communicate with your clients.
  • The special monthly newsletter - Business Plus+ - will assist you to communicate with your clients and prospects on a range of business issues - help show your clients that you can help them on a range of matters beyond taxation.
  • Debtors’ Management - help your clients reduce debtors’ days outstanding.
  • Survival in Difficult Times - unfortunately many clients will continue to encounter problems in 2021/22 - the 38 questionnaires and linked commentary will assist you to develop strategies to assist your clients.
  • Tradie’s Charge Out Rate Calculator to assist in achieving targeted profit.
  • Professional Services Firm Charge Out Rate Calculator to assist in achieving targeted profit.
  • Retailer Product Mix and Markup Calculator to assist in achieving targeted profit.
  • 2 x 1 hour training by Zoom for your firm.
  • Business Advisory Services Implementation Training - 12 monthly promotions delivered on a group basis by Zoom to assist you to promote a range of Business Advisory Service solutions to your clients and prospects.
  • During the year you can upgrade to any of our other specialist packages to assist in the delivery of services in which your clients are interested and prepared to pay a fee for the service.

Click here for a Product Brochure on the Business Advisory Services Starter Package.

If you wish to subscribe now, you can do so by completing the Order Confirmation Form (click here) and return the form to peter@essbiztools.com.au.

Special Webinars to Improve Your Understanding of Business Advisory Services

We are presenting the following free webinars to assist you to gain a better understanding of Business Advisory Services:

  • “Promoting Business Advisory Services to Your Clients/Prospects” - Wednesday, 16th June 2021 at 12-noon AEST - to register click here.
  • “Business Advisory Services Starter Package Will Help You Implement” - Tuesday, 22nd June 2021 at 12-noon AEST - to register click here.
  • “How Do You Go About Attracting Clients to Business Advisory Services?” - Tuesday, 29th June 2021 at 12-noon AEST - to register click here.

Communicating With Your Clients Is Very Important

Our theme for promotional videos of the last week continued with “Diversifying Services”:

  • Many people who suffered the problems of lockdowns over the last 18 months may have utilised some of that time to undertake research on alternative ways of solving a business problem.
  • Accountants who are committed to offering a broader range of Business Advisory Services to SME clients need to assist those clients in planning their future.
  • The Marketing Director of PlanGuru, a USA company supplying three-way forecasting software to accountants in 55 countries, Tripp Graham said today that “Predictive Accounting gets accountants into the fun part”.
    • Predictive Accounting Gets Accountants Into The Fun Part! - (click here)
    • Video recording - (click here)

Want To Know More?

You are invited to “Book A Demo” on ESS BIZTOOLS with Peter Towers, Managing Director, ESS BIZTOOLS to gain a better understanding of the services that are available within ESS BIZTOOLS and ESS BIZGRANTS? 

You can book a demo at www.essbiztools.com.au or contact Peter Towers:

Have a great day.

Do You Want More?

To gain an overview of what is included in the ESS BIZTOOLS’ icon goldGold Package. Please contact us for further information.

To download free material click the link below:-

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Episode 274 - Diversifying Services - What Is Your Firm’s Strategy

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Diversifying Services - What Is Your  Firm’s Strategy