Adding value

As an accountant, like any other business, you have two choices, offer clients better value by cutting your prices or offer clients MORE value.

Doubtless you would prefer the second option! This can be achieved by improving your service with higher levels of customer care and/or offering help and advice on a wider range of services. We believe smart accountants know that adding value is the best option for both themselves and their clients and this is supported by the ICAEW report, Building the Profitable and Sustainable Practice.

In recent years it has become apparent that clients expect high quality service and welcome help with a wide range of financial issues.

Tax is always something clients would like to avoid. Proactive tax advice is now achievable by implementing “more” small business accounting software. There is no need to wait until six months after the end of the year; you can now undertake a tax planning review mid year or within a few days of the year-end.

Once you have implemented all the tax saving strategies helping clients budget for tax is the next step. This will give your clients peace of mind and allow them to make better business decisions because they will be financially more in control.

With tax investigations on the increase, helping your clients protect themselves will be something they will appreciate. You can do this using “more” small business accounting software because it gives your client a framework to work within to improve small business accounting quality.

Next comes helping clients to arrange their business and personal finances efficiently. Some common areas where clients may benefit from support are credit control, health and safety and debt structure. This can include helping clients arranging or renewing business overdrafts or providing mortgage applications.

Business advisory services are also becoming more accessible as software makes this easier and quicker to deliver. This can include a range of advisory and consulting services like profit improvement, strategic planning and business development as well as business coaching.

With all these services you need time and this is where “more” small business accounting software will help you help your clients. When you get better small business accounting information from your clients you spend less time looking at last year’s accounts and more time helping your clients solve today’s issues and achieve their goals for the future.

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