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Entries in chandra bhansali (9)

Wednesday
May302018

Don’t just be an advisor. Be relevant.

By Chandra Bhansali, CEO and co-founder of AccountantsWorld

Recently I hosted a webinar for accountants that discussed the difference between being an advisor and being relevant to their clients. Why is that distinction important? Being relevant is your ability and commitment to do what’s good for your clients. That requires you to ask yourself, what can we do within our firm so we can do what’s good for our clients?

To become relevant, you have to first identify clients’ needs. Next, you have to mold your firm to be able to satisfy those needs. Both of these key activities for making your firm relevant are inward facing. Fortifying your accounting firm from the inside out contrasts to your role as an advisor, where most activities are outward facing towards your clients.

That’s the major difference between being an advisor and being relevant. You must strengthen your firm from the inside before you can be relevant.

 

To strengthen your firm from the inside out, you must focus on acquiring the abilities needed to prepare your firm to do what’s good for your clients. Here’s an example: if you were to get all your clients in a room and ask, “those who love doing accounting please raise your hands,” how many hands you think will go up? Not many. You know most clients consider accounting a major headache and it distracts them from focusing on their core businesses. If you can take that burden off their shoulders, you’ll be doing what’s good for your clients. You’ll be relevant to their needs. In this case, if you currently don’t offer client accounting services, you have to find the ways your firm can offer outsourced accounting services to your clients profitably.

One more important thing to remember about relevancy is that relevance has a context. You must always ask yourself why something is relevant to your client.

 

 

To learn more about being relevant to the needs of your small business clients, click here to see the recording of my latest webinar.

Tuesday
Apr242018

Introducing the 2018 Expert Webinar Series, presented by AccountantsWorld

AccountantsWorld has expanded its Expert Webinar Series this year, featuring 16 industry leaders, including 12 of the Top 100 Most Influential People in Accounting, as named by Accounting Today.

This is the 10th year AccountantsWorld has offered the Expert Webinar Series to help accountants receive insights from industry experts to manage and grow their practices and add greater value to their clients’ businesses.

The first session, “Don’t Just Be an Advisor, Be Relevant,” will feature AccountantWorld CEO Dr. Chandra Bhansali on Wednesday, May 2. During the webinar, Chandra will discuss how to make accounting practices more relevant to the needs of small business clients.

Other presenters include:

  • Former AICPA chairman Kimberly Ellison-Taylor
  • Maryland Association of CPAs CEO Tom Hood
  • WithumSmith+Brown director of firm technology Jim Bourke
  • K2 Enterprises' Randy Johnston and Brian Tankersley
  • Boomer Consulting visionary and strategist Gary Boomer
  • CPA.com CEO Erik Asgeirsson
  • Abraham Group CEO Jay Abraham
  • VeraSage Institute founder Ron Baker
  • Culture Works co-founder Chester Elton
  • Transition Advisors president Joel Sinkin
  • CPA Trendlines CEO Rick Telberg
  • AccountantsWorld director of practice development Hitendra Patil and vice president of marketing Div Bhansali

 

Participants can earn one CPE credit for each session. Register now.

 


Wednesday
Jul052017

Chandra Bhansali speaking at 2017 NY Accounting Show

 

Dr. Chandra Bhansali, CEO and co-founder of AccountantsWorld, will be speaking at the 2017 New York and Northeast Accounting Show and Conference. The show will take place July 12-13 at the Pennsylvania Hotel in New York City.


Dr. Chandra BhansaliDr. Bhansali will be speaking on Thursday, July 13, at 11 am, along with Rick Telberg, publisher of CPA Trendlines. Their topic: How to Put Cloud Computing to Work in Your Practice. Dr. Bhansali and Mr. Telberg will discuss:

 

  • four ways to ensure that your firm experiences the full benefits of the cloud
  • how the right cloud approach can help you build sustainable value in your practice - without adding new clients or staff
  • the differences between various approaches to cloud adoption and migration
  • how to identify and implement the right cloud strategy for your firm's specific needs

 

 

Click here to register for the 2017 NY and Northeast Accounting Show. 

 

Friday
Oct142016

AccountantsWorld Co-Founders Named Top 100 Most Influential People in Accounting

AccountantsWorld founders Dr. Chandra Bhansali and Sharada Bhansali were both once again named to the Top 100 Most Influential People in Accounting list by Accounting Today magazine for 2016. They have now achieved a combined 18 awards in the Top 100 list.

For more than 16 years, the couple has transformed the accounting profession by designing highly acclaimed, cloud-based solutions for professional accounting, payroll, document management and more. Winners are nominated by industry professionals and peers who are asked to identify who they believe are the most influential people in the sector.

"For us to be consistently named among the most influential people in accounting each year is an incredible honor," said Dr. Chandra Bhansali, CEO and co-founder. "It is gratifying to see that our peers recognize the achievements of not only the two of us, but our entire team. This recognition further fuels our passion to continue developing innovative tools to better serve accountants and their clients."

Since the company's inception in 1999, AccountantsWorld has been a pioneer in leveraging the power of the Internet to help accountants advance their practices. Chandra and Sharada led the effort to create a complete suite of fully integrated, cloud-based products that puts accountants back in control of their core offerings, while also fostering greater collaboration with their clients. And unlike most other solutions providers, AccountantsWorld has made an unwavering commitment to professional accountants by never selling its products or services directly to their clients.

AccountantsWorld continues to enhance its products every year, and most recently added an integrated bill payment feature to Accounting Power, which received a five-star rating from CPA Practice Advisor. This focus on continued innovation has earned AccountantsWorld countless product awards, including "Best Small CPA Firm Solution" and "Best Cloud Power Solution" by K2 Enterprises.

"As technology continues to advance, we will remain focused on helping accounting professionals grow their practices and strengthen client relationships by empowering them with cutting-edge software solutions," said Sharada Bhansali, co-founder of AccountantsWorld. "Whether it's via mobile platforms, third-party integrations or strategic partnerships, we strive to make their professional lives easier and help them stay ahead of the game." 

To view the complete list of the Top 100 Most Influential People in Accounting, please visit www.AccountingToday.com.

Wednesday
Jun292016

Accountants, Cure Your Client's Pain - And Yours Too

Recently, I attended a meeting of small business owners and casually asked how many of them enjoyed doing accounting. Out of a group of about 30 business owners, three hands went up.

I’d guess that if you were to poll your own clients, the results wouldn’t be much different. You know from experience that the vast majority of small businesses find accounting work to be a hassle.

For many small business owners, managing accounting functions is simply a distraction from what they love to do - growing their businesses. Accounting is mostly seen as a regulatory burden, and few small businesses use accounting tools proactively to manage their business finances.

Finally, it’s often hard for small businesses to get competent accounting or bookkeeping staff or help. And you know well what the consequences are for you and your clients. For one, you spend a significant amount of your time fixing the bookkeeping errors clients make. Numerous surveys of accounting practices have rated this as one of the major challenges accountants face.

How Did This Happen?

All of the above are the easily foreseeable results of using popular DIY accounting software like QuickBooks – solutions that were created for small businesses, but not for professional use.

The question then arises - why recommend these DIY accounting programs to your clients? The response from most accountants is straightforward – “what choice do I have?”

Virtually all of the accounting systems on the market today are DIY systems. Even most cloud-based accounting systems are created primarily for small businesses, and are based on the DIY model. Here's the amazing part: Despite knowing that most small businesses don’t like performing accounting tasks, most accounting system software providers continue to push DIY accounting systems to small businesses.

So What’s the Solution?

It’s simple – eliminate the need for your small business clients to perform accounting functions in their offices, and have your firm handle all accounting functions for them!

You can become the solution by offering complete accounting services to your clients, including paying bills, recording transactions, performing trial balance work, creating financials, and managing your clients’ cash flow and business finances.

Not surprisingly, accountants usually find that the DIY systems that were created for small businesses aren’t the right solutions to offer complete accounting services to their clients. To deliver such services effectively, you need a cloud-based professional accounting system that lets your staff do what your clients’ staff currently does… only faster, better and more accurately, without leaving your office.

What to Look for in a Professional Accounting System

Not all of your clients will choose to engage you to perform all of their accounting functions, and you’ll have clients who want to continue to do some accounting work. But your professional system should let you work collaboratively with those clients, giving you the ability to customize the system for each client to let them do the tasks they feel comfortable performing.

A professional system should help your firm perform write-up work efficiently for the clients who don’t want to stop writing manual checks. Automatic bank feeds can cut data entry time significantly, reducing your write-up time by 50-70%.

To accommodate the clients who continue to use another system, choose a solution that has powerful trial balance capabilities and lets you prepare fully customizable financial statements easily. For maximum efficiency, look for a system that lets you easily import client data into your accounting system to perform trial balance work and prepare financials.

And, to help you to offer virtual CFO services to your clients, look for a system that provides a comprehensive dashboard, alerts, and snapshot capabilities.

 

 

 DIY accounting solutions were a necessity of the desktop, but neither you nor your clients have to live with their limitations any longer. The cloud has opened the door to bring complete accounting services back to accountants. Don’t miss this unique opportunity to grow your practice and serve your clients better.

Webinar: Beyond Quickbooks