Mar 30, 2016
To be successful, accountants offering a broader range of services have to be part of the “client’s team”.
In the first instance, you will need to:
For items such as:
Government Grants
For many accountants, a significant change that will affect you is that your clients require greater input from you. Small/medium enterprises require a “total financial service”, not just tax.
The “Accounting Market Pulse” report, prepared for the Commonwealth Bank of Australia in December 2015, indicated that 64% of accountants earn less than 5% of their income from non-accounting services and 24% earned between 5-10% of their income from non-accounting services.
This means that 88% earned less than 10% of their income from services other than taxation, even though, for the last 15 years, small/medium enterprises have been indicating in survey after survey that they would like to receive additional services from their accountants. If their accountants are not prepared to supply those services, eventually, many of those clients will find those services from some other supplier. It could be another accountant or a business coach or consultancy business.
This is where a significant change is going to occur for accountants.
The question is: do you meet the challenge and make the changes so that the services nominated by small/medium enterprises can be provided or do you ignore the requirements of your clients?
ESS BIZTOOLS supplies a wide range of services to assist accountants to be able to deliver an outstanding range of services, to assist your clients to meet the changed circumstances that now prevail in the marketplace.
ESS BIZTOOLS has prepared an article, “Characteristics of a Well Run Business”, which looks further at the concept mentioned in this edition. This article is available as complimentary material and is attached with this transcript.
ESS BIZTOOLS is presenting a special webinar on Wednesday 6th March 2016 at 12PM AEST, featuring “Assisting Clients to Plan for Success”. You’re invited to register to attend this webinar, free of charge, which will give you a great introduction as to why business advisory services is a package of products that you should really consider introducing to your accountancy business in 2016. Click here to register to attend.
I look forward to having further discussion with you in future weeks as part of the ongoing productions of appropriate material, to assist accountants to add value to your clients’ businesses.
Peter Towers
MANAGING DIRECTOR – ESS BIZTOOLS PTY LTD
+61 7 4724 1118 | 1800 232 088
www.essbiztools.com.au | www.essbizgrants.com.au