Have you done enough to prepare your accountancy firm for a radically different 2018?
Quarterly reporting will soon replace annual accounts as the dominant source of revenue and profits for your firm, for every firm.
In the next 12 months you must prepare to abandon your obsession with annual accounts.
Are you thinking you should get ready for this or just wait and see?
What do you think?
Massive risk AND massive fee and profit possibilities…
Yes, annual accounts will still be required, but they’ll naturally flow off your quarterly reporting service for your business-owner clients – four accurate quarterly financial reports will make producing annual accounts relatively quick and easy.
The fees that can flow off a quarterly reporting approach are significant.
But your clients will resist the increased fees.
The production efficiencies that you gain from a quarterly reporting approach also mean a significant uplift in profits too.
But your people will resist the new way of working.
The Aussies show the way forward…
Research from Australia shows how some firms grow compliance revenues AND grow advisory revenues even more – partly because they have a cloud accounting quarterly reporting commitment.
Won’t the same happen here?
You too can grow fees, but only if you establish a quarterly reporting obsession, get your team to support you and get your quarterly reporting pricing processes working in 2018.
So, do you need to be better prepared for this radical change?
Could you do with some ideas, inspiration and practical next steps to help?
Easy next step…
Paul is doing what he can to create a healthy debate around these key issues.
To help, Paul is presenting at QuickBooks Connect, Printworks SE16, London – why not come and join the debate, be inspired and walk away with some practical next steps. There are also many more speakers sharing their insights to stimulate your thinking and actions.
IMPORTANT: QB Connect is a two-day event Tues 27th and Weds 28th February – Paul is speaking on Weds 28th February only.
Need more convincing?
We realise it can be a big decision to leave your firm for a day and attend an event.
But simply dealing with the day-to-day challenges will not get you, your team or your firm ready for the unavoidable changes ahead. It’s a big risk ignoring the imminent changes, especially if your competition are embracing the changes. A ‘steady-as-she-goes’ strategy will no longer secure your firm’s fees, profits or capital value.
So, step outside your firm - attend QuickBooks Connect and prepare your firm for a brighter and more secure future.
PS If, in 2018, you only do what you’ve always done you will unhinge your firm’s fees, profits and capital value. Sounds melodramatic and a bit ‘scare-mongery’ I know, but the amount of change and the rate of change that’s flooding the accountancy profession requires new thinking, new ideas and real change. Get to QBC and start to think differently!