Does Your Accounting Firm Offer Client Advisory Services?

If you’re only offering basic accounting services, then you’re not doing enough. The modern accounting firm has to go above and beyond to stay ahead of the competition - have you considered offering client advisory services?
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Does Your Accounting Firm Offer Client Advisory Services?

If you’re only offering basic accounting services, then you’re not doing enough. The modern accounting firm has to go above and beyond to stay ahead of the competition – have you considered offering client advisory services?

Virtually every accounting firm in the business right now offers the same basic services – taxes, financial reporting, and bookkeeping. If you think that’s enough to excel in your industry, you’re fooling yourself.

An effective way to get ahead of your competitors is by offering more advanced – client advisory services.

What Are Client Advisory Services?

Client advisory services mean going beyond offering simple financial services, and instead, providing expert consultation on business health and strategy for your clients:

  • Performance Advisory: You need to help your clients determine how they are performing. How efficient, how profitable, and to what degree they are growing.
  • Strategic Advisory: This service takes the intelligence gathered in performance analysis and uses it to make expert recommendations. Providing your clients with strategy should give them the knowledge they need to improve upon important metrics.

How should you start your client advisory services? By offering Business Intelligence…

Accounting Firms Need To Go Further

Delivering more intelligent and strategic insight can be difficult, but it’s not impossible with the right technology. It would be best to start thinking about Business Intelligence, collecting and analyzing data collected, such as department productivity, overall growth, sales trends, and customer behavior.

This data can range from simple spreadsheets for the organization and storage of data to Online Analytical Processing or Reporting and Querying software. Each has a specific use and offers various benefits to your clients’ businesses.

With the right solutions, you can deliver key Business Intelligence services to clients:

  • KPI Dashboards: By tracking Key Performance Indicators (KPI), you can show your clients determine how effectively they’re achieving their intended business objectives and make adjustments when necessary to gain greater success.
  • Data Analytics: You aggregate the data on how their business and its end-users work with and create every day to form substantiated analyses that are endlessly useful in making future decisions for their company’s good.

The bottom line is that the right Business Intelligence software will help you make recommendations to your clients about managing their business more effectively.

Are You Going Above & Beyond For Your Clients?

Every decision you make has an outcome; even on a fundamental level, there is an equal and opposite reaction for every action. That’s why it’s so important that you help your clients make well-informed decisions regarding their business. If you can help them do so, you’ll be an invaluable resource for them.

With the right information, each choice they make can have attainable and expected positive results for their business; without that information, they may as well be gambling with the future of their company.

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