Advisory
Goals vs. Systems
One thing that I find in common with CPA firms is that they expect to see strong growth in their Client Accounting and Advisory Services (CAAS)...
Let's face it. The Accounting Industry is transforming before our very eyes. The technology disruption is making itself known through automation, commoditization, and consolidation. So to combat the downward pressure on revenue, accountants share a common desire to become more consultative.
Problem #3 = Technology Disrupting Tax & Audit Revenues
Let's face it. The Accounting Industry is revolutionizing before our very eyes. Specifically, the technology disruption is making itself known through automation (expectation of being able to do more with less), commoditization (downward pressure on audit & tax pricing and resulting revenues), and consolidation (accounting firms merging, looking more like consulting or law firms, etc.).
So to combat the downward pressure on Tax and Audit Revenue, accountants all over the country share desire to "become more consultative." But when pressed for "how" firms plan to achieve this transformation, few have an answer. Try harder? Sell more consulting? Talk about it more? All these solutions are likely to result in the status quo.
Many firms, however, are finding success at making the transformation to "become more consultative" by utilizing comparative analytics, especially in combination with a proven process. Accountants are able to:
- Turn client data into understandable, actionable insights
- Get back in front of clients
- Generate deeper, strategic conversations with clients, moving away from compliance only exchanges
- Identify possibilities for improvement
- Create additional revenue from prep, meetings, and new projects
- Track and view metrics throughout the year against newly identified goals
Don't settle for declining tax and audit revenue as the new norm! To watch a brief video of how it works, Click Here.
About Peerview Data
Peerview Data provides comparative analytics and benchmarking solutions to accounting firms, enabling them to turn client data into actionable insights, get back in front of clients, and grow consulting revenue.