It is interesting to observe the changes in the profession as a result of technology. As a technologically advanced accountancy outsourcer, we understand the changes and are driving the biggest changes in the profession. Cloud accounting is transformational.
What is surprising is that there are a significant proportion of firms who have yet to develop an integrated approach to cloud accounting and bookkeeping.
Receipt Bank contribute their thoughts on making bookkeeping pay for the professional firm. This is available to read on our website.
Many accounting firms have steered away from bookkeeping in the past due to the relatively low value and the large volume of paperwork. Consider how much work you passed to local bookkeepers in the past? Consider how inconsistent the quality of these bookkeepers has been over that time.
So what are your options today?
No change (The Do nothing strategy)
That is a strategy of sorts. The long-term impact of such a strategy is to reduce the long-term value of your practice, as few new entrepreneurs will buy your firm’s services if you don’t demonstrate cloud capability.
Half-baked cloud strategy (Partial cloud strategy)
There are many firms that fit this profile. Consider how many of you have clients that use Sage, Xero or QBO (and many others) and because your client has introduced you to them, you do support them, but it is almost accidental?
In this instance, you support anything as long as you win the client.
Full cloud strategy
This is where the firm has a clear strategy as to which products it will support and how they will transition appropriate clients to their chosen software products and how they will attract new clients using their expertise in the chosen products.
A truly professional outsourcer like AdvanceTrack can deliver cost-effective and efficient delivery of bookkeeping and other compliance services. This strategy can also help deliver a cloud strategy faster than in-house staff.
Outsourcing should help you focus on what you do best – deliver better service and advice to your clients.
AdvanceTrack is run by UK based ICAEW Chartered Accountants and are certified by BSI in the UK for ISO9001:2015 (Quality Management) and ISO27001:2013 (Information Security Management) and operating since 2003.
Call us today to arrange a meeting to help you develop and deliver your cloud strategy on +44 (0)24 7601 6308