Three ways to grow an accounting business ways to... · 2017-06-19 · So how do you plan to grow your accounting business? Well, you could try working harder. The problem is, there

Three ways to grow anaccounting business

Planning to grow your business?Unless you’re continually growing your business the reality is that it’s contracting;

just think of all the clients that you lose over the course of the year, whether through

business failure, price sensitivity or competitive pressure.

So how do you plan to grow your accounting business?

Well, you could try working harder. The problem is, there are never going to be

more than 24 hours in a day, no matter how hard you work.

At Wolters Kluwer, we think a better answer is to work smarter. For an accounting

practice, that means three things: automation, integration and collaboration.

To watch our video which explains more, click on the screen below.

Alternatively, read the rest of this short guide.

AUTOMATION,INTEGRATION ANDCOLLABORATION.

AUTOMATION,INTEGRATION ANDCOLLABORATION.

AutomationThe benefits of automation

• Workbecomeseasier – Computer-based automation can eliminate hours of

unnecessary work. For example, instead of your staff spending half a day a month

manually running off, collating and circulating monthly practice management reports,

CCH KPI Monitoring can automatically generate those same reports and circulate

them by email, without anyone having to lift a finger. The time that’s saved can

be spent on higher value work, helping clients and earning fees for the practice.

• Errorsareeliminated – Software can perform the same task repeatedly without

losing interest, cutting corners or making transcription errors. Why waste time

re-doing work or apologising to clients when you can simply perform tasks correctly,

first time, every time?

• Outcomesaremorepredictable – When performing a purely manual process,

everyone will have their own unique way of working. Automation gives you a

chance to refine an activity and then capture the optimised version of that activity.

The more you can do this, the closer everyone will come to producing the best possible

results every time, from sending an engagement letter to preparing a tax return.

Automation (noun): The automatic operation or control of processes and systems to take the place of human labour and improve efficiency.

IntegrationThe benefits of integration

• Savetime– Why enter data into a host of unconnected systems when you could update

all records from a single location? A central, integrated client and contact database not

only saves time, it also eliminates errors – for example, a single client receiving the same

newsletter three times with their name spelled three different ways!

• Getthebiggerpicture – Integrated systems work together rather than in isolation so

you get a complete picture of your clients and your practice without having to swap

in and out of individual applications. Integrated data allows you to take an integrated

view of your client’s business, so you can offer them the best possible advice.

• Findeverythinginoneplace – Having a single, integrated system means you only have

a single place to look for information. The best systems, like CCH Central, allow you to

build your own personal view of the information that’s displayed, so that each person

only sees the information that’s important to them, whether that’s a list of today’s urgent

tasks or an overview of practice profitability.

Integration (noun): Combining or co-ordinating elements so as to create a harmonious, interrelated whole.

CollaborationThe benefits of collaboration

• Improvedvisibility – The traditional client / accountant model gives accountancy

practices limited involvement in forward planning, with clients only meeting their

accountant to review what’s already happened. The collaborative model enables

shared access to data using cloud-based systems like . Because information

is being updated in real-time you have a much clearer view of what’s going on inside

your client’s business right now.

• Betterdecisionmaking – Closer collaboration delivers more up to date accounting data,

which in turn means better, faster decisions. By improving collaboration and decision

making, an online accounting system like Twinfield Online Accounting makes it easier

for you to position yourself as a trusted business adviser rather than just another number

cruncher.

• Strongerclientrelations – The bedrock of practice expansion is the relationship you

have with your clients. Whenever you ask them to make referrals or extend the range

of services they take from you, this is ultimately what you’re relying on. Adopting a

more collaborative approach is the quickest way to strengthening that relationship.

Collaboration (noun): Working together, especially in a joint intellectual effort.

REad MoRE >

CCH Portal software gives Josolyne & Co a complete picture of their clients at all times. This has had a very positive impact on client service.

AUTOMATION,INTEGRATION ANDCOLLABORATION.

Want to know more?By combining the three key elements of automation, integration and collaboration, the CCH software suite naturally helps you to grow your accounting business.

Call 0844 561 8181

To find out more about how we can help your accounting business to grow:

•

•

•