Utilising the changing face of accountancy
We wonder how many businesses would answer ‘yes’ if asked if they see their accountant as a business partner? We suspect not many would, because it is often seen as a service that is required, rather than welcomed or valued, with many businesses only wanting to engage with their accountant when it comes to tax returns and auditing of accounts – or other general accounting functions.
Here is why we believe your accountancy firm should be considered a viable business partner.
There are often many services offered by an accountancy firm that businesses are not making the most of as they see a potential cost which can immediately put them off exploring further. Keeping services and costs to a minimum is what’s usually done.
But when you do what you’ve always done, you’ll get what you’ve always got. Using an accountancy firm on an ongoing basis can dramatically aid business growth for a variety of reasons.
Quite often it is easy to get bogged down with the every day operation of the business and not be able to dedicate time to thinking creatively, or even considering new opportunities in line with where the business is at financially. Why? Because ongoing monitoring and forecasting is a bind and often isn’t approached with the same mindset as an accountant might look at it. Being on top of the financial side of the business so early identification of opportunities can occur is something an accountant can help with – and could be the difference between taking the business to the next level, or being static. Whether it’s helping to identify opportunities or helping with making a strong case for funding (whatever the source) an accountant will be the best business partner available in this instance.
So, the cost. Yes, that can be an issue for some, but if it the service facilitates a growth opportunity it is certainly money well spent. However, with many firms, including ours, now offering fixed fee packages that include a range of business finance support features, the worry of the big bill is negated.
From budgets and forecasting, preparation of management accounts and sales and purchase ledger reviewing, fixed fee services can encompass a range of activities that will not only help the business in terms of preparation for fluctuations in demand, keeping on top of payments and debtors – but also in identifying key opportunities for the business.
We have many success stories of clients who have used our own fixed-fee product Board Support – businesses that have seen significant growth with this support.
So anyone interested in learning more about the service or client success stories can get in touch with Tessa on 0182754944 and arrange to see us for a no-obligation chat.