How to add value to your firm with data analytics

26th Sep 2019
Brought to you by
Zoho Books
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Being an accountant is much more than just helping clients stay compliant. Here’s how to make the most of the data you have access to with business analytics tools.

Accountants have access to a lot of financial information from their clients. One of the obvious ways in which you can use it to help your business clients is by offering key and actionable points of action to guide them through their business decisions. 

The future of a business if often buried under large amounts of data that hasn’t been analysed with the proper tools and skills. That is why If you have access to tools that provide the right visibility, you will be best positioned to make the most of the financial information of your clients. 

No more billing by the hour

Technology keeps on evolving and shaping accountancy practices in new ways. One of the main changes that we have seen in the last few years is the automation of many daily tasks such as manual data input. 

These activities, which were previously very time consuming, are now carried by the accounting software, freeing up time for accountants and bookkeepers. This means you now have more time to dedicate to other important activities, but also that you need to find new ways to add value to your clients, as billing by the hour doesn’t make as much sense as before.

Data analytics allow you to help your clients on a regular basis with quarterly and monthly meetings in which you can give them actionable advice. And at the same time, this also helps your practice by adding a continuous revenue stream.

Improving your client relations

With more automation, you have more time to get out of the office and meet your clients in person. In those face-to-face meetings you can talk about your main findings that month. To help them make sense of the information, it can be useful to provide them access to summaries and graphs that they can see in dashboards such as the ones that you can find in Zoho Books. 

A dashboard can be the best way of seeing the most relevant information about income and expenditure as well as total receivables, sales, top expenses and more at a glance.

Zoho Books also enables you to schedule reports, share them in PDF format, add reporting tags for better organisation. You can personalise your reports in any way you see fit by setting date ranges, choosing what columns to display and using the filtering options. 

You can generate reports like Profit & Loss, Balance Sheet, and Cash Flow Statement for your clients any time you want them, and dig into the data to make business plans for the future and help them make informed business decisions. 


And besides the 50+ built-in reports you can even get more advanced analytics with the Zoho Analytics integration.