One of the strongest trends amongst mid-size accountancy firms at the moment is towards adding value to their offering through an emphasis on advisory services.
The argument goes that opportunities are limited for regulated firms to differentiate themselves from their competitors in the quality of core activities such as the preparation of accounts and bookkeeping.
By providing more advisory-led services that guide clients as to what the numbers mean for them and how they can plan for the future, accountants can increase the value they provide their clients and set themselves apart from their competitors.
The argument then usually heads down the path of promoting cloud systems as a way of automating other tasks to free up time for advisory services. This is a legitimate and important tool in enabling practices to increase their emphasis on adding value through advisory-led services.
However, there is a reason why accounts preparation and bookkeeping has not simply moved to cloud platforms without professional input – professional judgment is clearly required much of the time. That cannot simply be replaced by a cloud package.
This is where outsourcing tasks such as the preparation of accounts can free up your and your team’s time to focus on the more valuable advisory-led services that will set you apart from your competitors and help retain clients in the long term.
Being based locally is a great advantage to the provision of advisory services, but not necessarily to the preparation of accounts. By outsourcing routine accounts preparation and bookkeeping to highly-qualified overseas professionals, you can leverage this advantage to focus more of your teams’ efforts on strengthening their relationships with clients and delivering advisory services – without risking the quality of accounts preparation.
At GI Outsourcing, we offer a range of highly flexible outsourcing options which can free up your team to grow your advisory services. Please contact us today to find out more about how we can help you.