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New revenue ideas for accounting firms in 2019

12 days ago

Rising business costs, AI, complex data systems and other firms offering competitive pricing… How are you going to protect, even better, increase your accounting firm’s revenue in 2019? Let us share our ideas…

As the cost of doing business rises and AI and increasingly complex data systems remove much of the manual work associated with filing taxes, accountants are finding their profits dwindling.

Many firms consider lower prices as a means of staying competitive, eroding their margins and creating strain on internal systems.

But it’s not all doom and gloom – depending on how you view the future.

As old tasks are automated, accountants are free to pursue other areas of practice.

Now’s the time to look at new revenue streams for your practice in 2019 and see how you can continue to remain competitive and offer a superior service.


Is it Time For a New Business Model

12 days ago

“We now have a completely new business structure based on the value we can bring to a business”

Green Lion is a modern accounting firm that is thriving with the help of Connect Outsourcing’s accounting services. Last year Green Lion took over a more traditional firm that wanted to transition to a modernised practice but didn’t know how.

We talked with Felicity Hill about getting the merged firm on board with outsourcing and the benefits it offers.

What is the difference between a traditional accounting firm and a modern firm?

In a modern practice the accounting role can be hugely varied. In our practice we have specialists that offer accounting services such as systems, tax advice, finance valuations, compliance reviewing, company office trusts, office administration, and more.

Modern accountants have a more diverse role that includes advisory at all levels – not just in a director position. They need to be thinking about adding ongoing value to their client’s business.

This involves driving a different, more in-depth relationship with your clients. One where your clients call you before making any big decisions so you can advise them of implications and outcomes.