Change Your Mindset, Change Your PracticeMay 30, 2019
What’s the deal with accounting industry disruption?
Accounting advisory services. Automation. Technological disruption. Accounting CRM. Compliance to advisory. These are all concepts that you’ve probably heard about recently. But how do they apply to you? And how do they impact your practice?
In today’s accounting industry, competition is fierce. With the advent of automation technologies and better access to price and service comparisons, staying afloat is harder than ever. In order to remain successful, CPA firms need to develop beyond a compliance mindset—they need to focus on becoming valued advisors.
Why add accounting advisory services?
Adding accounting advisory services to your firm’s offerings can help you achieve greater success. Here are a few of the ways that your firm can benefit:
1. Tap Into a New Market
First things first: with more firms focusing on compliance rather than advisory services, there’s less competition in the advisory area. This means that clients are easier to come by. On top of that, there is less pricing pressure. Accounting advisory services tend to be a profitable way to grow your pipeline.
2. Get More Out of Your Current Client Pool
When you add new service offerings, you already have a target clientele in place—your current clients. Before you begin cold calling, take a look within your practice. Consider which of your current clients might be interested in purchasing additional services. The appeal of having all of their needs taken care of in one place is a big draw.
3. Attract New Talent
It takes more than just new clients and additional services to grow. You also need the staff required to handle your growing workload. Emphasizing your firm’s advisory services is a great way to attract new recruits. These days, recent graduates and young professionals are often eager for jobs that allow them to flex their creative muscles. Accounting advisory services allow your team to tap into their passions and think outside the box.
It comes down to this: incorporating accounting advisory services into your repertoire is a great way to provide a solid based for continued firm growth. They help you establish new client relationships, grow existing ones, and develop and retain a team full of top talent.
ABLE Supports Accounting Advisory Services
One of the key elements of maintaining and growing your accounting practice is relationships. Establishing and nurturing strong relationships with your clients, prospects, and referral sources is integral to the success of your new accounting advisory services. That’s where ABLE comes in.
ABLE is a CRM and business development tool designed specifically to help busy accounting professionals carry out key relationship-building activities with a minimal time commitment. It offers a variety of helpful tools to enhance your pipeline management, thought leadership capabilities, and more. Want more info? Schedule a free, no-obligations ABLE demo today!