Once upon a time in the accounting world, a narrative took root: compliance was on its way out, and business advisory was the only future.
But, as the clock ticked forward, reality painted a different picture. The Xero Canada Accounting & Bookkeeping Industry Report highlighted the truth many accountants still live by. Compliance isn’t just surviving; it’s thriving. Yet, there’s an unclaimed treasure hiding in plain sight: repeatable business advisory services.
Let’s set the scene with some hard facts.
The Xero Report and the Clarity 2023 Benchmarking Report lay it out in black and white: firms embracing repeatable business advisory, on top of compliance, are three times more profitable.* That’s not just an incremental change; it’s a transformative leap!
The problem?
Traditional business advisory is a tough nut to crack. It’s been a steep hill for many firms—complex, time-consuming, clients don’t get it, and, in reality, often only the senior members of the team can deliver. They’re already in short supply, overwhelmed and don’t have the time to do more. Reporting tools just don’t cut it. But what if there was a simpler way?
At Clarity, we’re not just reimagining business advisory; we’re remaking it into something every accountant can deliver efficiently and effectively.
We’re helping progressive accountants market, sell, price and deliver re-imagined business advisory services at scale.
Clarity provides the structure, tools and processes to make it happen. And, we know from experience, starting with just 90 minutes a week for the first three months, you can witness a significant change—in fact, you’ll generate £30k GRF, well on the way to tripling your profits.
The numbers don’t lie.
Take an “average” firm, for example. With Clarity’s structured approach, you could see your revenue jump from £626,000 to £996,000, with net profits soaring from £119,000 to £389,000. That’s not just growth; that’s evolution.
This is about more than just numbers.
It’s about the lifeblood of your firm. Happier clients, a motivated team, and a business that stands as a pillar of respect and success in the community—that’s the Clarity promise.
So, let’s circle back to where we began.
Compliance is far from dead. It’s the foundation upon which you can build a powerhouse. However, the integration of repeatable advisory services represents a golden opportunity to not only enhance your profitability but also to redefine your role in a competitive marketplace.
Clarity is here to bridge the gap between potential and realisation, ensuring that every step taken is a step toward a brighter, more profitable future.
As we stand at the threshold of a new era, it’s time to shift the narrative.
With Clarity, compliance plus advisory isn’t just a dream. It’s a proven pathway to prosperity.
Don’t let the ghosts of advisory past hold you back. The future is bright, profitable, and waiting for you. Book a call with one of team https://pages.clarity-hq.com/book-a-demo to find out more.
The 2020 Xero Canada Accounting & Bookkeeping Industry Report reveals that firms incorporating repeatable advisory services can achieve a 65% higher average fee per client compared to compliance-only counterparts. And, analysis of the data further reveals that while offering advisory services may entail a 23.5% increase in salary costs, the resulting revenue and gross profit are considerably higher.
In fact, when compared to compliance-only firms, those offering repeatable advisory services see profits more than triple.
A closer examination of the Clarity 2023 Benchmarking Report corroborates these findings. The average firm, when adding repeatable advisory services using Clarity’s model, could potentially raise its revenue from £626,000 to nearly £1 million. This translates to a net profit increase from £119,000 to £389,000, which is a a significant uplift demonstrating the lucrative nature of advisory services.
The comparisons don’t end there. When pitted against complex advisory firms, those with repeatable services command a 4.5% higher fee per client and incur 46% lower costs in salaries due to efficiency in service delivery. So, these results in profitability rate five times greater than their complex advisory counterparts.
Book a call with one of team https://pages.clarity-hq.com/book-a-demo to find out more.
Clarity has created a calculator to show you how you can improve the profit potential in your accounting firm.
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Want to find out more? Book a call with our team to find out if Clarity is a good fit for your team, clients and accounting firm.
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