Stepping Into the New Digital CPA EraOctober 3, 2018
Being future ready is the name of the game for accountants when it comes to transitioning from compliance to advisory services.
ABLE CEO Jeff Pawlow recently sat down with Della Copp of Digital CPA to offer his perspective on modern accounting. They discussed the key topic of making the transition from compliance to advisory services. Read on to learn how new technologies can add incredible value, when deployed properly.
Compliance to Advisory
The key to this transition is relationships. Pawlow describes it as “professional intimacy,” explaining that accounting advisors need to know more about their clients than just the numbers. They need to understand a client’s strategic plan or long-term goals. Once they do, they can actively work to help clients achieve success, as it looks to them. “That level of professional intimacy is what’s required to function as an advisor,” explains Pawlow. “We believe you almost can’t make the pivot from compliance to consulting without that level of a relationship in place.”
The Role of New Technologies
They also discussed deploying new technologies to aid in making the transition from compliance to advisory services. Pawlow touched on three key points:
1. A Warning
“We’re not going to be able to write a check and deploy a piece of technology and magically solve the problem,” explains Pawlow. While technology can certainly be a great enabler, absent established relationships it won’t get the job done.
2. Finding Focus
The key is communicating the right information, to the right client, at the right time. Pawlow discusses the difference between the “shotgun” approach and the “rifle” approach. The shotgun approach involves sending out an e-newsletter to a large list and hoping that someone reads it. Conversely, the rifle approach involves sharing key information with a narrow list of contacts to whom it is highly relevant. Be sure to take a listen to the podcast to hear a great example Pawlow gives of how a client used CRM technology to quickly inform a specific subset of contacts about a legislative change that would impact them.
3. Technology as an Accelerator
Accountants are busy. With a lot on their plate—and a limited stock of non-billable hours—how they use their time is key. When deployed properly, technology acts as an accelerator. It creates value by taking over “busy work” and leaving practitioners with more time to focus on advising.
See You at the 2018 Digital CPA Conference
Members of the ABLE team will be at the 2018 Digital CPA conference from December 3-5. “We’re really excited about the upcoming conference,” says Pawlow. He’s looking forward to “networking with other people that share this passion to move into a digital practice structure.” Be sure to stop by our booth to say hello and learn more about ABLE, the CRM for CPAs!
Don’t want to wait to learn more about ABLE? Schedule a no-obligations demo today to have all of your questions answered!