This was a response that Andrew Geddes, Australian Accounting Industry Mentor and Coach and 10 year Chair of Green Cross Ltd (that was a Top 200 ASX company) gave to a question that was asked in the webinar that launched the ESS BIZTOOLS’ Business Advisory Services Starter Package Promotion – “Why should accountants proactively deliver business advisory services to their clients?” Andrew Geddes went on to say “Accountants have a moral obligation having been given the privilege of a tertiary education, you should be helping businesses in your community”. You can listen to the commentary of this webinar by clicking here.
Debtors’ Management – a key business advisory services product featured heavily in another of the special webinars because a few years ago Australia was awarded the dubious title of having the “longest debtors’ days outstanding in the world”. At that stage the event adjudicators indicated that, in their opinion, debtors’ days outstanding in Australia was 56.4 days. A recent article in Anthill Magazine has indicated the average SME in Australia is waiting 56 days to be paid. This means that in 3.1/2 years all that has been accomplished is an improvement of 0.4 days in the debtors’ days outstanding by Australian SMEs. This is despite the Federal government having announced that government departments would pay their bills to small business faster and the Prime Minister requested that big business do likewise. You can listen to a recording of this webinar by clicking here.
Predictive Accounting launched! This is a three-way joint venture between PlanGuru, a USA based company that has developed 3-way Financial Forecast Software that is now available in 55 countries around the world, Beyond Accounting Technologies, led by Paul Barnaby FCA, who will supply training and support to the subscribers and ESS BIZTOOLS, which will supply articles relating to Budgets and Cashflow Forecast and a key driver package that can be customised to suit the particular requirements of the subscriber.
PlanGuru’s Marketing Director, Tripp Graham, has announced that subscribers to the ESS BIZTOOLS/PlanGuru/Beyond Accounting Technologies Predictive Accounting Package will be able to work on 10 clients simultaneously instead of the 3 client license that applies to the normal PlanGuru subscription. You can access the introductory webinar on Predictive Accounting by clicking here.
Tradie’s charge out rates are rarely calculated on strong business principles and this was discussed in another webinar. The ESS BIZTOOLS’ Tradie Charge Out Rate Calculator starts with a detailed analysis of labour costs, including estimated productivity by various team members and the overhead costs relative to each classification of team member, markup to be aimed for relating to external purchases for customers, overhead expenses and the targeted profit for the business.
There is then a need to monitor the actual performance which, some ESS BIZTOOLS’ subscribers have implemented as monthly accounts, monthly business review meeting to decide whether charge out rates need to be adjusted based on actual performance. One subscriber has indicated that he has over 100 tradie clients and charges them an extra $5,000 per annum for these extra services, thus generating an extra $500,000 from this type of service to his tradie clients. You can access this webinar by clicking here.
Upcoming webinars delivered as part of the Business Advisory Services Implementation Training Program.
- “Business Advisory Services Implementation Training – SME Debtors’ System Manual” – Thursday 12th August 2021 at 12-noon AEST. To register click here.
- “Business Advisory Services Implementation Training – Client Seminars/Webinars – Characteristics of a Well Run Business” – Tuesday 17th August 2021 at 12-noon AEST. To register click here.
- “Predictive Accounting” (if you missed the first webinar – this is a great webinar!) presenters Tripp Graham, Marketing Director, PlanGuru USA, Paul Barnaby, PlanGuru Representative and Managing Director, Beyond Accounting Technologies and Peter Towers, Managing Director, ESS BIZTOOLS – Friday 20th August 2021 at 12-noon AEST. To register click here.
ESS BIZTOOLS 50% Discount Promotion
Please visit www.essbiztools.com.au to view details of the 50% discount promotion for 4 separate product packages. The discount expires 6th August 2021.
- “Business Advisory Services Starter Package” – 50% discount – your investment $999 (incl GST) for 12 months access.
- “Gold Package” (which includes all of the ESS BIZTOOLS’ material, including access to ESS BIZGRANTS) – 50% discount – your investment $3,250 (incl GST) for 12 months access.
- “Chief Financial Officer Services Package” – 50% discount – your investment $1,375 (incl GST) for 12 months access.
- “Innovation Package” – 50% discount – includes Research and Development, Accelerating Commercialisation Grant, Early Stage Innovation Company Capital Raising Process and Business Advisory Services Training – $2,500 (incl GST) for 12 months access.
Want to know more?
- Diversifying Accountancy Services – Why? - 24 August 2021
- If You Don’t Help Your Clients With Their Businesses – They Might Go Broke! - 3 August 2021
- Business Advisory Services Implementation Training Launched - 16 July 2021