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Entries in accountants (3)

Tuesday
May022017

AccountantsWorld presents the 2017 Expert Webinar Series

AccountantsWorld is proud to announce the launch of the 2017 Expert Webinar Series.

As part of our continued focus on finding innovative ways to help accountants thrive, the company has gathered 12 industry experts -- eight of whom were named among the "Top 100 Most Influential People in Accounting" by Accounting Today -- to present in this year's Expert Webinar Series.

Each thought leader will host a one-hour webinar in which they will provide actionable insights for accountants and CPAs to grow their practices and add more value to their clients' businesses. This year's series marks the first time in accounting history that so many experts are sharing a common platform to help accounting professionals in this manner. In addition, each webinar will award 1 CPE for participation.

The first webinar to kick off the series, titled "Forget Value Billing, Focus on Value Building", will feature Dr. Chandra Bhansali, AccountantsWorld CEO and co-founder, on Wednesday, May 3rd. In this session, Dr. Bhansali will dispel the myth that accountants can't build value for their practices from commodity services like accounting and payroll. If you have been looking for ways to build sustainable value for your practice and your clients, this webinar is a can't-miss. 

 

Other expert webinars in the series include: 

May 17: "Succession Planning: Perspectives from the Seller and the Successor Firm", by Joel Sinkin, President, Transition Advisors, LLC. If you are considering growing by merging/acquiring a firm, or you are closing in on reducing your time commitment to your firm within the next 6 years or less, this session is for you.

 

June 7: "2017 Tech Update" by Randy Johnston, MCS and executive vice president at K2 Enterprises. Topics covered will include how technology impacts accounting firms and insights on strategic choices and technology tactics for CPAs to maximize ROI.

 

 

June 21: "Three Ways to Become a More Engaged Accountant... and Leader", by Chester Elton, managing partner at The Culture Works. This session will present three strategies to unlock accounting employee engagement and potential, and provide managers and individuals with specific tips and tools to align their work with his or her engagement drivers.

  

July 21: "The Anticipatory CPA: How to Get Ahead and Stay Ahead" by Tom Hood, CPA and CEO of Maryland Association of CPAs. The session will focus on how CPAs can thrive in today's competitive age by accurately anticipating client needs. Attendees will also learn the five steps to be future ready and ride these ‘big waves of change’.
 


August 9: "CPA Firm Technology Trends 2017", by Brian Tankersley, Director at K2 Enterprises. The fourth annual Accounting Firm Operations and Technology Survey was published in the second quarter of 2017. This session will present the major findings from this research, in the areas of practice management, technology management, computer hardware, application software, file management, remote access, and technology spending.

 

August 23: "Professionalization of Client Accounting Advisory Services", by Erik Asgeirsson, President at CPA.com. As more firms are formalizing virtual CFO and controllership practices, client awareness and expectations are growing. To meet expectations, firms need to focus on service, training and best practices. This session will demonstrate how firms are raising the bar for exceptional advisory services.

 

September 20: "The Accountaneur Difference: 8 Uncommon Success Practices of Entrepreneurial Accountants", by Hitendra Patil, author and director of practice development at AccountantsWorld. This webinar will review specific tips on how accountants can leverage human behavioral insights to achieve a competitive advantage.

 

October 4: "100 Ways to Make 2018 Your Best Busy Season Ever", by Rick Telberg, Publisher of CPA Trendlines. Rick will deliver a rapid-fire range of proven best practices, leading-edge innovative strategies, and the newest trending ideas to make more money, deliver amazing client service, and have more fun.

 

October 18: "Transformation: Mindsets, Skillsets and Toolsets", by Gary Boomer, CPA and founder of Boomer Consulting. The cloud has provided great tools, yet many firms and their clients have not yet transformed. Could it mean their skillsets and mindsets are obsolete? This session will present how accountants can manage change and update their firm's processes to fully leverage today's new technology.


November 8: "30 Marketing Tips for Your Practice in 50 Minutes", by Div Bhansali, vice president of marketing at AccountantsWorld. This session will present quick, actionable marketing tips and stratgies for your firm. Whether you're interested in attracting new prospects or increasing the ROI of the marketing you already do, you'll learn ways to lift the impact of your marketing in 2017 and beyond.

 

December 13: "Pricing on Purpose: Creating and Capturing Value", by Ron Baker, Founder of VeraSage Institute. Understanding how people make buying decisions is a key component to any successful pricing strategy. By grasping the concepts of how humans are influenced you can be better equipped to price successfully and increase your profitability.

 

Accountants and CPAs interested in attending the Expert Webinars can register for the complete series here.

Monday
Feb062017

Three Benefits of Maximizing Your Relationship with Your Accountant

This byline was originally featured in Home Business Magazine.

 

Small business owners: tax season has kicked off, which means you’ll be speaking to your accountant again. But did you know that accountants can do so much more for your business than filing taxes? In fact, for independent business owners and freelancers, it’s highly valuable to work with accountants throughout the entire year.

Here are three ways you and your business can prosper by working with accountants beyond March and April.

Finding New Revenue Opportunities

As a business owner, you’re in charge of so many different aspects of a company, from marketing to operations and HR. While basic bookkeeping may seem like a necessary to-do on your list, working with an accountant allows you to outsource this task. Not only can you benefit from their ability to expertly manage your books, you’ll also reap rewards from having their experienced eyes tracking your numbers. These days, many forward-thinking accountants can use cloud-based solutions to maintain a great handle on your company’s financial standing. This enables them to provide strategic advice on areas to expand your business.

Future-Proofing the Business

Risks are an inherent part of any business. It’s hard to anticipate them, but working with an accountant can improve your chances of surviving through uncertain times. When accountants have both your historical and real-time financial data at their fingertips, they can help you develop a better business plan. You may have an idea of when your peak and off seasons are, but accountants can enhance your business plan to help you maintain a steady cash flow during the off months.

Gaining an Extra Lookout

As a business owner, you see that money is constantly churning, from an influx of revenue to an excess in spending to manage inventory. As such, it’s hard to discern what’s draining your resources. Working with an accountant year-round enables them keep an eye on your cash flow and share timely advice about your business. For example, you may be using various contractors to fix different parts of your business, from lights to computers. Accountants, who see these invoices uploaded, may recommend consolidating vendor services to ensure you’re getting the best deals for services you need.

Running a successful business isn’t easy. In fact, nearly 50 percent of all small businesses fail within five years. By working with your accountant beyond the tax season, you can discover new growth opportunities, prepare for future threats to your business, and minimize inefficiencies.

Monday
Nov302015

The 4 P's of Succeeding in the Cloud

From our close interaction with thousands of accountants, we have learned that most accountants:

  • Want to begin to migrate to the cloud, if they haven't already done so; and
  • Share some apprehension about the potential risks of cloud migration.

Another fact we uncovered is that many accountants are unaware of the tremendous benefits the cloud offers to accountants.  Making the 3 Ps (Product, Process, and Solution Partner) your guiding factors can minimize your risk and maximize your rewards, but the most important factor for harnessing the cloud is the fourth P – your Passion. Your passion for your practice will lead you to find innovative ways to harness the cloud to revamp your practice in ways you never thought possible.

Product

Obviously, the first thing necessary to harness the cloud is to choose software that both takes advantage of the remarkable capabilities of the cloud to overcome the challenges you currently face and creates new opportunities for you. This requires a completely fresh approach to software design.

For example, with accounting software, Do-it-Yourself (DIY) solutions, created for small businesses, have dominated accounting on the desktop. Despite the limitations of this kind of software, and the problems this approach created for accountants, DIY software was the only viable option on the desktop. Most accounting software producers, including Intuit, Xero, and Sage, have chosen to use the same DIY approach for their cloud solutions.

Other solution providers, including AccountantsWorld and Thomson Reuters, have taken a different approach. They have created solutions that take full advantage of the one of the most important capabilities of the cloud: collaboration.  These solution providers have created professional accounting systems that include not only powerful trial balance and financial reporting, but also complete bookkeeping capabilities. In these systems, accountants work collaboratively with their clients while retaining the power to customize their services to best serve each client’s needs. This unique approach makes it easier for accountants to offer complete accounting services.

When choosing a software product, be sure to evaluate solutions based on both models - the DIY model and the new accountant-focused, collaborative professional model - to see which offers more benefits for your practice.

Processes

On the desktop, integration between different applications makes data exchange between applications seamless. The cloud takes integration between applications to a higher level, making it possible to use integration between different applications to greatly streamline your workflow. For example, with the seamless integration of a cloud-based payroll system like Payroll Relief with Excel spreadsheets, bank ACH processing systems, and IRS and state e-filing and tax payment systems, payroll processing becomes highly efficient and virtually painless, with no compliance headaches. This has enabled thousands of accountants to offer highly profitable payroll services to their clients. Similarly, integrating accounting systems with smart phones, document management systems, and bank ACH systems makes offering bill payment services easy, efficient, and profitable.

To take advantage of these capabilities, you will need to re-evaluate and re-engineer your own internal processes, and to align your business model with technological advances. Fixed fee and value pricing have become the new norm for maximizing firm profitability and client satisfaction. 

When evaluating cloud solutions, make sure to analyze how well the solutions you consider can streamline your workflow and processes to increase efficiency and productivity.

Partner

Accountants know how important having the right partner can be for a firm. Having the right solutions partner is just as important for the success of your firm.

For many accounting and payroll solution providers, your small business clients are their primary customers, and accountants are only secondary customers. However, there are solution providers whose only customers are accountants, and who are focused on accountants’ needs.

When evaluating cloud solutions, it is important to factor in your potential solution partner’s long-term commitment to your success in your decision-making process.

We hope you’ve found this short guide useful for your cloud strategy. Please contact me with any additional questions.

 

About the author

 

Dr. Chandra Bhansali (CBhansali@AccountantsWorld.com) is the Co-Founder and CEO of AccountantsWorld – a leader in cloud solutions for accountants. AccountantsWorld offers innovative solutions for accounting, payroll processing, practice management, and much more. AccountantsWorld has helped thousands of accountants revamp their practices by harnessing the cloud. Learn more at AccountantsWorld.com.