Bob Harper, friend of VeraSage, and owner of Portfolio, a UK-based marketing company for professional firms, recently published a fascinating report: GRF is killing the profession.
GRF stand for "Gross Recurring Fees," and it has created a sense of complacency and entitlement in the profession, leading to a lack of innovation, dynamism, focus on value and customer service excellence, and other deleterious effects.
Nine consultants and thought leaders to the accounting profession contributed to this report, including: Bob Harper, Dennis Howlett, Mark Lee, Mark Lloydbottom, Michael McKerlie, Finola McManus, Steve Pipe, Paul Shrimpling, and yours truly.
If you lead or work in an accounting firm, you need to read this short report, and pay special attention to why GRF will no longer be the basis for valuing accounting firms.
Thanks to Bob for making this report available.