transformation of the accounting industry
TRANSCRIPT
Transformation of the Accounting Industry
David New
Director of Strategic Partnerships
Compliance is NOT dead!
It’s more competitive
It’s becoming cheaper to do
… but it’s compulsory!
A bit about me …
DOS to Windows
Stand alone PC to LAN / WAN / Internet
Lotus 1-2-3 to Microsoft Excel
Desktop to Cloud Accounting
Transformation driven by technology
Efficiency
Automation
Connectivity & collaboration
Additional capacity & productivity
Impact on Accounting Firms
2015 Survey Findings
The Future of Professional Services
Compliance to Advisory - it’s a Journey!
Compliance services are not going anywhere!
To survive, a move to expanded services is inevitable
Advisory services a hot topic for years now
Need to reduce the cost of compliance services
Remember it’s not about you!
It’s about understanding your clients’ needs
Learn how to market, sell and deliver advisory services
Business Owner / Leader Problems
Financial stewardship, governance requirement
High failure rate / poor growth & weak profits
Accounting reports aren’t useful nor easily understood
Cash is king - but how to get understandable clarity?
Are we hitting our goals? Do we have any articulated?
Our accountants are passive, we need their proactive advice
There is lots of data out there, but how to derive the benefits?
The Data Journey
Embracing Perfect Advisory Relationships
1. Select well - up-front acceptance process
2. Super clear - you are “different” as a service-provider
3. Broad church - business, financial and personal are on-topic
4. Compelling services - a menu or bundled package
5. Set the cadence - you will interact on cycle X using process Y
6. Shock and awe - do more, be available and deliver delight
7. Grow trust - aim for that heady mix of high ARPU and client NPS!
Attributes of the Perfect Advisory Client
1. Ambition - to grow, to sell, to make more money, to have more lifestyle
2. Open - to new ideas, to learning, to challenge, to sharing
3. Accountable - KPI’s, deadlines and actions are meaningful
4. Respect - your expertise, experience and the collaboration ahead
They’re probably right under your nose!
www.spotlightreporting.com
Are you ready to transform?
www.spotlightreporting.com