Expanding Your Consulting Services
Growth is often misleading. Firms have existing clients with needs beyond tax, audit, and accounting. Yet, most growth strategies are aimed at winning new prospects rather than creating additional revenue with existing clients. One reason is firms are uncomfortable selling consulting because an advisory engagement is very different than a compliance engagement.
Compliance has rules. Processes, checklists, and quality assurance. There is a structure in place and CPAs are trained to follow the structure to ensure a higher quality product. Tax returns, audits, payroll, accounting, and rules-driven services have been in place for a long time to control the quality process.
Advisory engagements are rule free. There are two types of consultants. Ones that solve a problem. These people ask questions to extract information and interpret those answers to help create a solution. The other consultant is one with a specialty area such as a freight, telecommunications, or healthcare who possess knowledge and relationships in a specific industry or service area.
Sample of Our Relationships
Let us bring their expertise to you and allow us to guide your client mining efforts.
- Merchant Credit Card Processing. Reduce the cost of processing credit card revenue.
- Freight. Evaluate your client’s parcel, land, air, and sea cost of distribution expenses.
- Telecommunications. Assess costs and evaluate options, which may not require changing providers.
- Malpractice Insurance. Pricing and coverage assessments, as well as risk assessments.
- Workers Compensation Rate Audits. Determine if your entire workforce is being charged a higher rate when only a few workers may be in higher risk jobs.
- Customs Charges. Import and export customs fees are often misclassified leading to overcharges.
- Technology. Solutions from outsourcing your technology to cyber specialists to cloud solutions.
- Executive Compensation. Options for executives and alternative retirement and benefit programs.
- Specialty Tax Solutions. R&D credits, DPAD, cost segregation, SALT, and more.
- Specialty Advisory. Quality of earnings, Sarbanes Oxley, internal controls, forensics, valuation, and other specialty areas.
- Health Care Consulting. Revenue and compliance support for hospitals and physician groups.
- Invoice Payment. Solutions to help CPA and law firms get paid 100% upfront for their work.
We will explain how this works for your firm’s clients. You control the client interaction. The client benefits, while your firm adds value and potentially generates commissions. Your staff gets exposure in the business development side of the business dealing with clients they already know.