If you think business advisory is a buzzword, you’re right, but it’s much more than that. Business advisory plays a critical role in both financial and strategic planning. Whether advisory comes from professional services such as accountants & bookkeepers or from independent business advisors & consultants, more and more businesses in Australia, New Zealand – and around the world – see the value of this service. Business advisory for accounting firms is a fast-growing segment and source of revenue for many small to medium accounting firms. Accountants who add business advisory to their service offerings gain more clients and increase revenue. Of course, a cloud-based software platform makes it all possible.
Business Advisory for Accounting Firms
In a post-pandemic world facing an uncertain economic future, business advisory for accounting firms makes sense. It presents an opportunity for forward-thinking accountants to support SMBs in turbulent financial times. For many businesses, especially in Australia, the accountant or bookkeeper is already a trusted member of the team. In some cases, accountants even serve in an unofficial advisory role. Therefore, accountants who add business advisory to their service offerings become even more valuable. This presents a tremendous opportunity for growth, and it’s not hard to do, especially with help from a comprehensive software platform.
Adding Advisory Services to Accounting Firms
The best way to implement business advisory for accounting firms is through the systematisation of services. This brings with it a host of benefits, but it also allows an accounting business to scale. For every accountant who manually writes and assembles monthly management reports or writes a business health check with a pen and paper or a word template, there is a more successful and efficient accountant using a cloud-based platform to streamline these tasks.
Get the Right Answers to Financial Questions
The reason many accountants sour on business advisory is because it seems like too much work. However, an all-in-one platform makes it easy. For example, it allows you to answer your clients’ questions such as:
- Where are we taking this business?
- What’s our strategic plan?
- What’s our roadmap to get there?
- What is our financial position and forecast?
- Where’s our cash flow?
- What’s our long-term exit plan for this business?
A software service such as the Maus platform addresses all of these areas and more.
Maus Software for Business Advisory
Some of us are old enough to remember when Maus provided floppy disks to small to medium businesses as the easiest tool for creating business plans. Fast forward 45 years and the technology has evolved to integrated cloud platforms built specifically for the needs of business advisors, consultants, and small to medium businesses. Maus offers convenient dashboarding and reporting to quickly and easily identify opportunities and gaps in your client’s business. It is useful as well for creating financial and non-financial KPIs that provide a consistent monthly report when checking in with clients and looking at their performance. Other features include detailed CFO reporting and exit and succession planning tools, as well as a policy and procedures component that allows users to generate and manage operational and HR policies.
Expand to Business Advisory with Maus Software
Many advantages exist when adding business advisory for accounting firms. For example, expanding services into this area sets accountants apart from their competitors. Maus software also gives accountants the tools needed to be a partner with their clients as they create KPI reporting, health checks, and strategic planning. Business advisory software helps bookkeepers and accountants advise the organisations they work with. Further, it provides built-in tools such as dashboards, strategic planning, and VCFO reports for clients. Automated functions further lighten the workload as tools and support help accountants gain the trust of their current clients as they grow their business with new ones.
Become a Maus Accredited Partner
An organised, systemised strategy going to market helps accelerate an accounting practice. As a Maus Accredited Partner, accountants get access to mentoring and one-on-one check-ins, coaching, and support, as well as a dedicated business advisory certification. Additionally, it gives accountants access to a variety of marketing tools and lead-generation resources so they can get new clients fast.