Expert Webinar Series 2013

Transcription

1 10 Strategies to Improve Client Accounting Services Presented by: Gary Boomer CPA.CITP CEO, Boomer Consulting Download the PDF slide deck at Expert Webinar Series 2013 This Is Your Once-in-a-Decade Opportunity. Don't Miss It Dr. Chandra Bhansali May 15 Top 100 Tax Practice Ethics & Quality Control E. Lynn Nichols, CPA June 5 The Rise of the Digital CPA Erik Asgeirsson, CPA2Biz June 27 (THU) Technology Update 2013 Randy Johnston July 31 Top 100 Top 100 How to Attract New Clients - 50 Tips in 50 Minutes Rick Telberg, CPA July 10 Top Strategies to Improve Client Accounting Services L. Gary Boomer, CPA.CITP August 21 Top 10! ONE FREE CPE OFFERED FOR EACH EVENT (And a More Rewarding Practice!) How to Drop the Struggle & Thrive Rick Solomon, CPA September 18 Moving to the Collaborative Team Model: The New World of Productivity Sandra Wiley October 9 Top 100 Profitable Payroll? It's NOT an Oxymoron Anymore! Bob Torella, MBA October 23 Marketing Means More Than You Think Divya Bhansali MBA November 13 To register please visit AccountantsWorld

2 L. Gary Boomer, CPA.CITP, CGMA Think, Plan, Grow! Challenge the way you think Identify two things you will change Provide you with tools to grow Transform the accounting profession in order to increase value and remain relevant. AccountantsWorld

3 Think, Plan, Grow! AccountantsWorld

4 Think, Plan, Grow! AccountantsWorld

5 Hindsight Innovation requires Insight Foresight Measure: Back, Current & Future AccountantsWorld

6 They miss the weak signals of disruptive change. Globalization Diversity in the Workforce E C O N O M Y Technology AccountantsWorld

7 Change Complexity Compliance Convergence Competition Transformation Collaborate Faster, better, cheaper & easier Virtualization Consolidate Digitize Control AccountantsWorld

8 L-3 Strategic Planning L-2 CFO Tier Price/Month L-3 $ 2,000 L-2 $ 3,000 Appetizers Soups & Salads Entrees Desserts Beverages L-2 Budgets L-1 Payroll L-2 Cash Flow L-1 Sales Tax L-1 $ 2,000 Total $ 7,000 L-1 Financial Reporting L-1 Bill Payment L-1 Income Tax AccountantsWorld

9 Leader Champion Partner Client Service Representative Business Analyst Bookkeeper Tax Other Level 5 leader purpose greater than self Team builder Politically connected Proven track record Passion AccountantsWorld

10 Name Standardize Define-measure-analyze-improve-control Graphic Cloud based Collaborative Value based billing Target clients Industry segments niches What will it cost the client to provide internally? AccountantsWorld

11 Innovation Risk reduction Management serious, dull & bland Entrepreneurship cool, innovative & exciting Success requires both Matrix Define minimum Define increments Biggest impact on profits Proprietary model AccountantsWorld

12 Take role seriously Focus on Level 2-3 services View value from client s perspective Don t be afraid to mesh The Producer Circle Access to expertise Access to peers Personal growth Don t reinvent the wheel AccountantsWorld

13 Tax Processing Bill Payment Billing & Collection Client Relationships/Projects AccountantsWorld

14 Process Improvement Project Facilitation: Tax Assurance Client Accounting Services Lean Training for CPA Firms Certified Lean Six Sigma Green Belt Training for CPAs Consulting / Value Added Services Niche Development Coaching Dustin@Flowtivity.com - Calendars MS Office Practice Management Scheduling T/B Work Papers Client Accounting Firm Systems Document Management Tax Preparation Knowledge Management Research CRM - Sales AccountantsWorld

15 78 million Baby Boomers approaching retirement age Only 50 million in Generation X won t offer one-to-one replacement Leaves Gen Y & Millennials to fill the gap AccountantsWorld

16 Source: AICPA 2013 Trends Source: AICPA 2013 Trends AccountantsWorld

17 Source: AICPA 2013 Trends Source: AICPA 2013 Trends AccountantsWorld

18 X X Source: AICPA 2013 Trends X Source: AICPA 2013 Trends AccountantsWorld

19 Adequate supply of entry level accountants Non-accounting hires will differentiate your firm Greatest opportunities are in Advisory Services Business Performance Talent development will separate the best from the rest Technology is transforming the profession faster, better, cheaper & easier AccountantsWorld

20 Client Service Management Leadership AccountantsWorld

21 AccountantsWorld

22 Strategic Succession Advisory Services Technology Accountability Retainers AccountantsWorld

23 Primarily focus on partners What about other functional areas? Technology Training & Learning HR Would you be prepared to go on sabbatical for: 3 months 6 months AccountantsWorld

24 Level 3 Strategy- Planning Level 2 Business Performance Value Proposition Pay for what you need, when you need it Fixed fee pricing Access to a professional team Collaboration & convenience Jim Collins 10X Leadership Fanatic Discipline Level 1 Transactional Tax & Accounting Productive Paranoia Level 5 Level 5 Ambition Empirical Creativity AccountantsWorld

25 People Planning Processes Performance 3 AccountantsWorld

26 The Right Team The Platform Advisory Services The Business Model - Pricing The Menu of Services Advocacy Tier Price/Month L-3 Strategic Planning L-3 $ 2,000 L-2 Budgets L-2 CFO L-2 Cash Flow L-2 $ 3,000 L-1 Payroll L-1 Sales Tax L-1 $ 2,000 L-1 Financial Reporting L-1 Bill Payment L-1 Income Tax Total $ 7,000 Compliance AccountantsWorld

27 Enablers Technology/Cloud Integrated Solutions Value Pricing Niche Focus Entrepreneurial Mindset Growth Focus Barriers Politics/ Leadership Buy-in Change Management Historic Perception of Client Accounting Resource Commitment The Producer Circle Project Filter Strategy Worksheet P3 Leadership Academy Economic Model Boomer Advantage Guides Boomer Tools Menu of Services Team Synergy Report Pricing Matrix Kolbe Index Value Creation Agreement Value Creation Letter AccountantsWorld

28 Complete a Strategy Worksheet Join The Producer Circle Hire a consultant Build my team Business analyst Client service representative Evaluate & change my pricing Expand my menu of services to Level 2-3 Enroll a manager(s) in P 3 Leadership Academy AccountantsWorld Sponsor Message 58 Accounting Relief Accountant-centric cloudbased collaborative accounting solution Full professional system for you (WU, TB, Financials) Customizable bookkeeping module for your clients Ability to offer premium Virtual CFO/controller engagements Visit or call us at for a free demo AccountantsWorld

29 L. Gary Boomer, CPA.CITP, CGMA Think, Plan, Grow! AccountantsWorld