It’s time for reflection on the quality of services being supplied to SMEs.
Peter Towers, Managing Director, ESS BIZTOOLS presents commentary on whether accountancy firms are committed to providing BUSINESS ADVISORY SERVICES to SME clients:
TIME FOR REFLECTION
Do Accountants want to supply advisory services?
Or, prefer to only provide taxation and other compliance services?
If you don’t wish to supply advisory services, do you advise SMEs to seek advice from other people?
What advice do you give clients about surviving the challenges of 2023/24?
WHAT DO OTHERS SAY?
“Financial forecasting is the most important task that accountants can perform for SME clients” – Adam Hale, Partner, Summit CPA a USA accounting firm that has pioneered the offering of virtual Chief Financial Officer services for SMEs by accounting firms.
“A lot of my clients are saying – well I’m going to pay 2 – 3 times what I used to – but I’m not getting value services from my present accountants – so I will sign up with Summit CPA” – Adam Hale
“It’s a new business model – I think it’s going to revolutionise the sector globally” Andrew Geddes, co-founder Financial Management Research Centre; Accounting Industry Guru; Chair for 10 years of Greencross Ltd a top 200 ASX company, commenting on Summit CPA Advisory Services.
“You must understand that if your business model is high volume, low margin, simple tax returns, your business will not be viable in 3 – 5 years” – Australian Tax Commissioner Chris Jordan said over a year ago.
“Focus on becoming a brilliant and trusted advisor” Tax Commissioner Chris Jordan.
“So strongly does Summit CPA feel about “Predictive Accounting” that their policy for clients is – appoint us to undertake the CFO work or we will say “NO” to your request that we accept appointment as your accountants” Christian Wielage, CEO, PlanGuru Inc – the developer of PlanGuru Predictive Accounting Software utilised by Summit CPA
“This is an opportunity for the accounting profession to get out there and start work with SME clients on Futuristic Strategies” Mark Holton, Director, SmithInk Pty Ltd.
What are your responses to all of this, as you reflect on the services that your firm provides SME clients?
To view the full recording – click here.
Peter Towers, ESS BIZTOOLS | www.essbiztools.com.au