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Great profits in accounting practice

What to Do for Professional Services Clients


It's time to ramp it up and be a cloud-based professional so that you can provide unique offerings to professional service clients like attorneys, event planners, consultants, etc.

Jan 15th 2020
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This article is designed to challenge those of us that need to increase our offerings to better meet the needs of the professional services sector. Let’s start using apps and other tools now available to us as professionals.

Our clients are professionals. They are using automation and growing their business. Our competitors are most likely automating as well.

If you, as an accounting professional don’t have an automated system for sending out proposals, or the ability to automate customer payments or schedule appointments without ping-ponging emails with your customer, you are behind the times.

Accountants should take a deeper look at the professional service industry. Why? Many are experiencing high growth because of transformations in how they do business. 

Legal, advertising, photographic services, consultants, and even accounting pros are changing rapidly.  With automation and other innovations, professionals can scale and grow their companies in ways that were not possible a few years ago.

What’s First 

Here are some examples of how and why the professional service industry is growing so rapidly:

SOCIAL MEDIA: Engaging with customers online helps professional service companies to build brand awareness, market to a new client base, boost the client’s satisfaction, and build relationships.

VIRTUAL FIRMS: With the increased use of smartphones, laptops, and tablet devices, the concept of virtual firms is becoming more attractive.  Brick and mortar offices are becoming less necessary.  Professional firms are now hiring contract workers and moving infrastructure to the cloud.  This move can significantly cut costs, increase revenue and allow for rapid growth.

VALUE PRICING: Professionals, like attorneys, consultants, and architects traditionally billed on an hourly basis. Now, many professional firms are selling their value vs time.  They are shifting to the “advisor” role rather than just service providers paid by the hour.   Cloud-based firms recognize that the automation of back-office processes frees up time.  Billing by the hour is not as relevant because cloud-based solutions are now doing much of the heavy lifting.

OUTSOURCING: Some professionals are focusing on what they do best and then they “outsource” the balance of the project to other professionals that specialize in specific areas.  You now see several firms collaborate on a single project.  An expert is more desirable to elite clients and can charge higher fees. 

AUTOMATION:  Simply removing “paper” from the back office allows remote workers to collaborate.  Getting a piece of paper to a remote worker takes time.  There are many cloud solutions that can free up time and get the firm working on what they do best:

●            Appointment & scheduling apps

●            Proposal and contract automation

●            Cloud accounting solutions

●            Recurring fee collections

●            Storage and document sharing

●            Cloud-based messaging systems for teams & customers

Now professionals can use that free time to focus on providing high-level professional services.  More time for the professional means the opportunity to add customers and grow.

What’s Next

So here is the opportunity for us.  We could offer packages beyond accounting services. Advise your clients on the right cloud solutions that are the best fit for professional services.

You may already have some expertise in this area.  What apps and automations are you using at your own firm? Do any of them translate well to other types of professional firms?   

If your firm chooses to focus on professionals as a niche, you might want to research and advise on a suite of apps that can help them modernize, market, value price, and automate.

Learn to ask questions that lead your professional service clients back to you and the services you offer.

For example: In this digital age, many clients are concerned about losing data that is stored in the cloud. Think of a way to ask about that fear.  Then offer a system that automatically backs up their data locally on a regular basis. 

Develop and ask leading questions about scheduling, contracts, payments, communication, etc.  Have several cloud solutions at hand, charge for your expertise and grow your firm.

Fast-growing professionals need our help. Let’s start unlocking these opportunities by implementing automation, learning some apps and ramping up our advisory services.

QuickBooks Online Advanced helps your fastest growing business clients with more users, deeper insights, and premium care. Discover the online, mid-market, accounting solution you’ve been waiting for. See what our software has to offer with a free test account. Learn More

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