We had a great time as a guest on a recent webinar hosted by Jim Boomer, CEO of Boomer Consulting. Jim sat down with our VP of Financial Services Strategy, Bill Sorenson, on how modern accounting firms are growing revenue utilizing both technology and new service offerings. It was certainly a very timely conversation, as many firms are in the midst of their strategic planning for the balance of 2018 and 2019.
Jim and Bill discussed the importance of having a growth mindset within the firm, working through a value transformation and moving toward a consulting mindset. Historically, accounting firms have been focused on compliance and transaction work, but with this modern focus on growth, firms are moving toward more performance and strategic offerings.
Leveraging cloud technology provides a base for additional flexibility and focus on client service offerings. Cybersecurity, IT strategic planning and vCIO roles are now adding revenue when historically, IT has been only a cost-center. Firms are adding CFO services, benchmarking, business advisory services along with succession planning as key customer additions.
With the flexibility to provide a work environment from anywhere, firms are taking advantage of unique talent in order to provide these services where internal staff skills may not initially match. Watch this on-demand replay of the webinar and use these concepts for your own firm’s future planning.