In my career as a Listed Public Company Secretary and Chief Financial Officer, Principal in an accounting firm and a Consultant for a major government program, I’ve noticed a lot of shifts in the accounting marketplace. Particularly in the last 15 years I’ve noticed technological advancement has made compliance work much more efficient and automation of low-level tasks is providing opportunities for accountants to broaden their skill set.
The recent identification by the Commonwealth Bank’s “Market Pulse Report” that the accountants who were surveyed for that report have an expectation that “the practice area expected to be most in demand in the next 6 to 12 months will be Business Advisory Services” has really typified the change in perception by accountants and the small business and medium-sized enterprise community.
Accountants, who are committed to the concept of supplying Business Advisory Services, will be providing challenging and satisfying work for their team, servicing their clients in a much better and more holistic way and will be increasing the firm’s revenue from a diversification of the source of client fees.
This will all contribute to “adding value” to their SME clients and also to the accounting firm.
My name is Peter Towers and I’m the Managing Director of ESS BIZTOOLS, a business that I founded to facilitate the delivery of Business Advisory Services’ material to accountants to enable accountants to supply value-added services to SMEs.
I’ve provided hundreds of accountancy firms all across Australia and New Zealand with proven and simple to understand tools, templates, worksheets, videos, mentoring and training to support accountants in providing “Business Advisory Services” to their clients.
I’m glad that you have invested some quality time in reading this article and I’d like to give you an overview of the types of Business Advisory Services that you could be providing to your clients in the current COVID-19 coronavirus environment, which will supply challenging and satisfying work to your team and a diversified source of income for your accounting firm without you needing to pull a substantial amount of resources away from your core accountancy firm activities.
Some examples of Business Advisory Services in action include:
Getting Prepared – undertaking the Business Advisory Services Training Program.
Each product package supplied by ESS BIZTOOLS includes our Business Advisory Services Training Package which is where we suggest you commence your journey to supply Business Advisory Services.
The package comprises 12 x 1 hour presentations to introduce your team to the Business Advisory Services’ concept.
At the conclusion of the training sessions you’ll be in a position to introduce some business Advisory Services’ packages including:
Survival In Difficult Times
Given the immense problems that are confronting small businesses and medium-sized business operators around Australia at present, this product package gives you the tools to evaluate all aspects of your client’s business so you can communicate with your client about various issues that can contribute to an improvement in their business’ performance. This can facilitate the preparation of the Strategic Plan, Budgets and Cashflow Forecasts for the business.
For this engagement you would work through the 42 questionnaires that are contained within the package which will encourage your client to think about their business operation in some detail and from this you’ll be able to document strategies to improve the overall performance of the business.
In this article we have given you an introduction to the training program and to 1 of 24 product packages available to facilitate the delivery of Business Advisory Services available to accountants.
These services are all in demand right now as thousands of businesses around Australia try to navigate through the problems brought about by COVID-19 coronavirus.
If you aspire to ensure that “Business Advisory Services” is indeed the practice area in most demand by clients of your accountancy firm in the next 6 to 12 months, we would be happy to talk to you about the introduction of the ESS BIZTOOLS range of product packages to assist in the delivery of Business Advisory Services to your clients.
If you would like to have a conversation why not give me a call on 1800 232 088?
(Click here) if you would like to have a 30-day free no obligation Guest trial of ESS BIZTOOLS.
Peter Towers | Managing Director
Latest posts by Peter Towers (see all)
- A Real Shift in the Accounting Marketplace - August 10, 2020
- Business Advisory Services” Expected to Be in Demand! - July 7, 2020
- Take a Bow – But It’s Only Half Time! - June 15, 2020