5 reasons you should offer company secretarial services to your clients
Throughout the past year, money and profits have been tight for many individuals and firms, with business owners looking at innovative and complex strategies to get new customers in front of them.
Sometimes, however, it’s good to get back to basics, and think about what you can offer to your clients for relatively low cost and effort.
Offering company secretarial services is one such strategy, offering accounting firms a great path to growth.
The service is certainly in demand as business owners look to protect themselves on judicial, regulation and compliance matters, all of which company secretarial services focus on, amid reports of Government COVID-19 support scheme fraudsters.
It’s more than offering something else to add to your ‘services’ page on your website, however, as company secretarial services offer providers a great way to attract new clients, grow relationships and boost profits with relatively minimal effort.
What else is in it for your firm to be offering your clients such services?
1: Forging good cashflow and strong relationships
How many times have you asked a client for documents for them to reluctantly admit they’ve lost them?
Things can be salvaged if it's something like the odd missing invoice, but if your client agrees to have your firm as their company secretary, then neglected company records and statutory registers are a thing of the past.
The ways to market this to your clients are obvious – position yourself as orderly and reliable – which then allows you to open up a new, relatively simple stream of revenue for your firm.
It’s more than the money, however – offering such simple yet crucial organisational tasks will benefit your relationship with your clients as well as demonstrating your commitment to them.
Plus, there’s the added bonus that the best person to rely on to have everything right is yourself!
2: Accounting firms are the best advisers
One benefit for a business having a company secretary is that they’ll have someone dedicated to forging and maintaining a host of contacts to help the day-to-day maintenance of the business and planning for future projects.
These include accountants who can give advice on administrative requirements, legal obligations and practical issues.
The advantage of an accounting firm that offers secretarial services is clear in this regard – they’ll have a huge head start when persuading clients to pay them for secretarial services compared to some competitors.
Company secretarial also involves collaboration with other experts, including consultants for managerial advice and digital marketing.
That means that on your route to finding someone to help out your client, you could pick up some contacts, tips and information to improve your own practices along the way.
3: Letting your clients get on with the important things
Much of what goes into company secretarial services includes relatively simple administrative tasks compared to what your clients might be doing on a day-to-day basis.
For instance, you could be arranging their board meetings, which typically involves drafting and sending meeting agendas; sending meeting notices, and documenting and dispatching the meeting minutes.
By doing such remedial tasks yourself, you can alleviate pressure from your clients, letting them get on with what they do best, which is another great way to boost the relationship between you.
4: High maintenance for them, low maintenance for you
But wouldn’t the high amount of administrative tasks, from arranging board meetings to submitting annual confirmation statements, cut into your own teams’ work and thus your own profitability?
There’s a risk of that happening, but only if you don’t have a dedicated team who can prioritise delivering your firm’s secretarial services, and an effective system, like Capium’s Full Suite, for managing that work.
Once you do, what is high maintenance, ad hoc and chaotic for your client becomes smooth and routine for you.
Eventually, your team might get so used to the services that it doesn’t seem such a burden marred with questions over its worth, but something perfectly complementary to your other services.
5: Boost your company’s credibility
As your team gets even more experienced, they’re also going to be making far fewer errors (if any), than your clients would themselves.
This would then give your clients the perfect reason to invest in your services, as you can advertise that fact in your marketing.
This can only then boost the perception of your other services and your business as a whole.
Talk to us about setting up a company secretarial service. Book your free demo with us today to get started.