Here’s what you’re looking for: CPA Trendlines Research

CLIENT SERVICE OPPORTUNITIES

COVID is Calling

Eileen J Kennedy
Eileen J. Kennedy

…Calling you—to reinvent your firm. Now.

By CPA Trendlines 

You may be missing a rare appearance of opportunity in the pandemic that’s stymying everyone else, says Eileen J. Kennedy in a new CPA Trendlines 30-minute Flash Briefing.

PLAY THE VIDEO or DOWNLOAD THE PODCAST: How to Dazzle Clients in the COVID Age: Creating Customized Client Experiences

In “Creating Customized Client Experiences in the Age of COVID-19,” Kennedy rolls out a host of ideas and insights to use the pandemic to: READ MORE →

CHARTS & GRAPHS

Software Saves the 2020 Tax Season

Survey says tax practitioners have never been so satisfied with their tax prep applications.

By CPA Trendlines

What’s the best word to describe the infamous 2020 tax season?

Brutal? Infectious? Interesting? Perpetual? Weird?

One word works for everybody: unprecedented. A pandemic. A lockdown. New legislation. New rules. Federal programs. Federal disasters. Bankruptcies.

It seems the only thing that’s gone right is software.

The bottom line: Tax practitioners have never been more satisfied with their tax apps.

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FEATURED

Value + Pricing = Value Pricing

https://cpatrendlines.com/2020/08/26/value-pricing-value-pricing/
Some 64% of CPAs say one of the chief benefits of value pricing is “transparency.” (AICPA)

Automation is a key part of the process.

By CPA Trendlines

Matching pricing (what an accounting firm figures it can charge) with value (what a client things a service is worth) is always a challenge. A firm may think its capability in compliance is worth a lot, but if the client has nothing to comply with, it puts no value on compliance services.

MORE: Opportunities in Common and Uncommon Services | Cloudy Forecasts Call for Rainmaking
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So the question is: What does a given client or potential client value?
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CHARTS & GRAPHS

Opportunities in Common and Uncommon Services

bar chartWhat do your clients want that your competition doesn’t offer?

By CPA Trendlines

Virtually every CPA firm faces two common challenges:

  • Get the work done.
  • Find more work.

MORE: Three Hidden Surprises in PPP Loan Forgiveness | Cloudy Forecasts Call for Rainmaking  |The Forecast: Partly Gloomy, Chance of Doom  |  Busy Season Benchmarks in Free Fall  | Say Hello to the New 24-Month Busy Season | Maybe the Pandemic Isn’t All Bad |  COVID Drives New M&A Trends  |  Re-Thinking Today’s Firm with Five Global Leaders|  Clients Want to Pay You More (Really!)

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Or, to put it another way:

  • Satisfy clients.
  • Find more clients.

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CHARTS & GRAPHS

Cloudy Forecasts Call for Rainmaking

Have you assessed your clients’ needs, or just provided what they asked for?

The average monthly price paid for accounting services: Clients who do not receive advisory services pay their firms an average of $1,108 a month. They’d be happy to pay $564 more.

By CPA Trendlines

Rainmaker alert! The cloudy skies of 2020 show a good chance of precipitation.

More in Surveys & Research: COVID Impact: 17,500 Tax & Accounting Jobs Lost | CAS: Critical Success Factors for the Covid Age | Clients Want to Pay You More (Really!) | The Forecast: Partly Gloomy, Chance of Doom | Busy Season Benchmarks in Free Fall | Say Hello to the New 24-Month Busy Season | Accounting Firms Take Billions in PPP Payouts | The More Monitors, the Better | The Top Portable Monitors for Working from Home

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But praying for rain isn’t going to work. Neither will a rain dance. The most effective action is often simply a matter of asking and offering.

A new survey of small and midsized businesses and their CPA firms finds that clients are generally willing to pay 50 percent or more for additional accounting-related advisory services … but only if their accounting firm offers them.

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