Last week I explored technology that enables visibility into important business information to drive agility within an organisation.
Building a more profitable practice
As the saying goes, knowledge equals power. But knowledge can also equal profit, as informed decision making and real time business insights give Accounting firm Partners the ability and empowerment to shape their business success. In this blog series Chris Duddridge, Business Director at Deltek, a global software company with a track record of helping Accounting firms improve their bottom line, shares his experiences of guiding clients to improve visibility of their operations, reduce administrative costs and ultimately, run a more profitable business.
In my last two posts we looked at business agility and what it means for firms who want to remain competitive in this shifting economy. In today’s post I’ll be continuing along this line of thinking and looking at why visibility is key to business agility.
As discussed in my last blog, agility really is vital for firms looking to ride out ongoing economic uncertainty.
How agile is your accounting firm?
Delayed payments are leading many organisations, such as accounting firms who bill clients for their time and services to function as a bank as they unwittingly ‘loan’ services to clients.
As an accountant, you will have encountered a huge amount of change over the past few years as businesses, financial institutions and countries look to learn lessons from the financial crisis.
The traditional accounting business model, one based on reputation and years of service to a core group of clients is changing.
As an accounting firm looking to grow, you may be looking to expand on the services you offer your clients.
As I am sure all of you are aware, the role of the accountant is slowly but surely changing. Your job now extends beyond number crunching and advising to being regulatory policeman too.