10 strategies to improve client accounting...

10 Strategies to Improve Client Accounting Services - LG Boomer

8/21/2013

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10 Strategies to Improve Client Accounting Services

Presented by: Gary Boomer CPA.CITP

CEO, Boomer Consulting

www.boomer.com

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Think, Plan, Grow!™

L. Gary Boomer, CPA.CITP, CGMA

www.boomer.com

[email protected]

Think, Plan, Grow! ™

• Challenge the way you think

• Identify two things you will change

• Provide you with tools to grow

Transform the accounting profession in order

to increase value and remain relevant.

http://www.boomer.com


8/21/2013





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Innovation

requires…

Hindsight

Foresight Insight


Measure: Back, Current & Future


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They miss the weak signals of disruptive

change.


Globalization Technology

Diversity in the Workforce

E

C

O

N

O

M

Y


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Change

Complexity

Compliance

Convergence

Competition


• Collaborate

• Faster, better, cheaper & easier

Transformation

• Consolidate Virtualization

• Control Digitize


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L-3 Strategic Planning

L-2 Budgets

L-2 CFO

L-2 Cash Flow

L-1 Financial Reporting

L-1 Payroll

L-1 Bill

Payment

L-1 Sales Tax

L-1 Income

Tax

Tier Price/Month

L-3 $ 2,000

L-2 $ 3,000

L-1 $ 2,000

Total $ 7,000

Appetizers

Soups & Salads

Entrees

Desserts

Beverages


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Leader Champion – Partner Client Service Representative Business Analyst Bookkeeper Tax Other


Level 5 leader – purpose greater than self Team builder Politically connected Proven track record Passion


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Name Standardize Define-measure-analyze-improve-control Graphic


Cloud based Collaborative Value based billing Target clients Industry segments – niches What will it cost the client to provide internally?


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Innovation Risk reduction Management – serious, dull & bland Entrepreneurship – cool, innovative & exciting Success requires both


Matrix Define minimum Define increments Biggest impact on profits Proprietary model


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Take role seriously Focus on Level 2-3 services View value from client’s perspective Don’t be afraid to “mesh”


The Producer Circle Access to expertise Access to peers Personal growth Don’t reinvent the wheel


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Tax Processing Bill Payment

Billing & Collection Client

Relationships/Projects



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• Process Improvement Project Facilitation: • Tax

• Assurance

• Client Accounting Services

• Lean Training for CPA Firms

• Certified Lean Six Sigma Green Belt Training for CPAs

• Consulting / Value Added Services Niche Development Coaching

Twitter: @Flowtivity

Email: [email protected]


Firm Systems

Email - Calendars

Practice

Management

T/B Work Papers

Document Management

Knowledge Management

CRM - Sales Research

Tax Preparation

Client Accounting

Scheduling

MS Office


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• 78 million Baby Boomers approaching

retirement age

• Only 50 million in Generation X won’t

offer one-to-one replacement

• Leaves Gen Y & Millennials to fill the gap


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Think, Plan, Grow! ™ Source: AICPA 2013 Trends



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X

X


X


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• Adequate supply of entry level accountants

• Non-accounting hires will differentiate your firm

• Greatest opportunities are in Advisory Services – Business Performance

• Talent development will separate the best from the rest

• Technology is transforming the profession – faster, better, cheaper & easier



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• Client Service

• Management

• Leadership



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• Strategic

• Succession

• Advisory Services

• Technology

• Accountability

• Retainers


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• Primarily focus on partners

• What about other functional areas? – Technology

– Training & Learning

– HR

• Would you be prepared to go on sabbatical for: – 3 months

– 6 months



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Level 1

Transactional

Tax & Accounting

Level 2

Business

Performance

Level 3

Strategy-

Planning

Value Proposition

Pay for what you need, when you need it

Fixed fee – pricing

Access to a professional team

Collaboration & convenience

Fanatic

Discipline

Productive

Paranoia

Level 5

Ambition

Empirical

Creativity

Level 5 Ambition

Jim Collins’

10X Leadership


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Performance3

Planning

People

Processes


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The Right

Team The Platform

The Business

Model - Pricing

The Menu

of Services

Advisory Services


L-3 Strategic Planning

L-2 Budgets

L-2 CFO

L-2 Cash Flow

L-1 Financial Reporting

L-1 Payroll

L-1 Bill

Payment

L-1 Sales Tax

L-1 Income

Tax

Tier Price/Month

L-3 $ 2,000

L-2 $ 3,000

L-1 $ 2,000

Total $ 7,000

Compliance

Advocacy


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• Enablers

– Technology/Cloud

– Integrated Solutions

– Value Pricing

– Niche Focus

– Entrepreneurial

Mindset

– Growth Focus

• Barriers

– Politics/ Leadership

Buy-in

– Change

Management

– Historic Perception

of Client Accounting

Resource

Commitment


Boomer

Tools

Project Filter

Strategy Worksheet

Economic Model

Menu of Services

Pricing Matrix

Value Creation

Letter Value Creation

Agreement

Kolbe Index

Team Synergy Report

Boomer Advantage

Guides

P3 Leadership Academy

The Producer

Circle


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Complete a Strategy Worksheet

Join The Producer Circle

Hire a consultant

Build my team Business analyst

Client service representative

Evaluate & change my pricing

Expand my menu of services to Level 2-3

Enroll a manager(s) in P3 Leadership Academy

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8/21/2013



L. Gary Boomer, CPA.CITP, CGMA

www.boomer.com

[email protected]

http://www.boomer.com

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