Accountants offer tips on value-added services

Value-added services are now just part and parcel of an accountant’s day-to-day business with a client, according to practitioners.

Changing technologies such as cloud and the free, easily accessible communication that comes with it such as Skype, allows practitioners to provide new services to...

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Comments

Loss prevention

malcolm141 | | Permalink

I 100% agree with Paul, unless the firms strategy is lowest cost where the lowest price because the added value.

As an accountant based in London, my take is that added value is/has been promoted to the profession as a profit improvement opportunity. However, I now see it as loss prevention.

I feel I need to roll in some added value (along with compliance) to keep clients happy. I call this retention marketing and it wasn't necessary years ago.

There are some networks out there who can help firms make the transition BUT just paying money isn't enough; accountants need to educate themselves.

What I have found is that added value business advice is really all about marketing. And, the beauty is that everything you learn to use with clients can be used on your own business.

Malcolm

 

Value Adding - The way forward

Billy Kang | | Permalink

Adding 'extras' to your standard compliance work is the only meaningful way to retain your clients. Or as Malcolm puts it 'loss prevention'. Standard compliance work will not separate your firm from another down the high street. Give them a good reason to stay with you. It is building meaningful relationship through value-added services - reads extras or add-on services, that we are able to retain client. Whether this will result in extra billings will depend how well you articulate. However, you must bring their attention to the 'extras' that you are providing. Otherwise it will go unnoticed, and your efforts will not be appreciated. May be you should 'invoice' them even if its F.O.C.