Advisory Progress Report
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Accounting firms regularly get "quick questions" from clients that fall outside of the scope of work the firm has been contracted to provide. Fielding these types of questions and providing, essentially, free advice hurts productivity as well as the firm's bottom line. Accounting professionals deserve to be compensated for their time, knowledge, and expertise. Advisory service agreements help to define the scope of the work you do for a client so you can receive fair compensation for the services you provide. Learn more about where your firm stands in its Advisory journey and potential steps to help you move forward.
QUESTION 1
Where does your firm sit with advisory services as a focal point in your firm?
Non-existent.
A
Just getting started.
B
Building out structure.
C
We are there! Center client relationships around advisory.
D
QUESTION 2
Do your clients know you offer advisory services?
We don’t offer advisory services.
No. They don't know.
Some know.
Yes! Every client knows because it is an emphasis in our firm.
QUESTION 3
How are advisory service opportunities for clients initiated?
We don't proactively seek out opportunities for advisory services, but will offer them if we notice a client needs something.
We proactively seek out opportunities for advisory services for existing clients.
We proactively propose appropriate advisory services to new clients and proactively seek out opportunities for advisory services for existing clients.
QUESTION 4
Who delivers advisory services in your firm?
Only partners/owners deliver advisory services.
Partners and senior staff deliver advisory services.
All levels of staff are involved in delivering advisory services.
QUESTION 5
Does your firm have tools to help structure advisory service delivery?
No.
Yes. We have a few that we have created new per client.
Yes. We have a collection of tools "library style" that we use regularly, but we recognize some missing pieces.
Yes. We have a collection of tools "library style" that we use regularly. We consider this library complete.
QUESTION 6
Do you have ongoing touchpoints throughout the year with business clients focused on their goals and/or pain points?
Yes. We do this with some business clients.
Yes. We do this with most business clients.
Yes. We do this with all business clients.
QUESTION 7
Do clients often come to you with a "quick question"?
No. This has never happened.
Yes. This happens occasionally, but isn't a pain point.
Yes. This happens pretty often.
Yes. All the time.
QUESTION 8
Which of the following best describes how your firm answers and bills for quick questions?
We never bill for quick questions. I answer the question quickly because I usually know the answer off the top of my head.
We usually don't bill for them, but will sometimes.
We bill based on time. I answer the question at the time it is asked.
If the question is in scope of our existing relationship with the client, we will answer it or setup a time to discuss further if needed. If it is not in scope, we will setup a time to discuss it and determine if a new engagement is necessary in order to help accomplish what is needed.
QUESTION 9
Can everyone in the firm answer common "business best practice" questions, and would they be answered the same way across the firm?
No. Only 1 person/select people in the firm can answer these types of questions. We do not have best practice standards for how to answer these questions.
No. Many in the firm can answer these types of questions, but we do not have best practice standards for how to answer these questions.
Yes. We have best practice standards for how to answer common questions and most people in the firm are well versed in them.
Yes. We have best practice standards for how to answer common questions and everyone in the firm is well versed in them.
(e.g. buying a car for a business, how long to keep receipts, how to handle business expenses.)
QUESTION 10
How do you bill for advisory services?
We don't bill separately for advisory services, we include it in the price of compliance work.
We bill separately for advisory services using an hourly rate.
We bill separately for advisory services using a fixed fee minimum, increased by impact and value brought to client through the service.
QUESTION 11
Do your clients get frustrated at your invoices?
All the time. They think we're too expensive.
Yes. This happens sometimes.
Not often. They know we provide value over the price we charge.
Almost never. They know we provide value well over the price we charge even though our prices might be higher than our competitors.
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Early Stages
Based on your responses, you are in the early stages of your advisory journey. But don't worry, you have a solid foundation to build upon.
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Learn more about Practice Forward
Based on your responses, you are in the early stages of your advisory journey. But don't worry, you have a solid foundation to build upon. Maybe you feel like you are giving knowledge and value away for free, or perhaps you wish client relationships were less transactional and more strategic. If so, you are certainly not alone! Accounting firms across the country continue to express a similar sentiment. Fortunately, there is a path to success if you are ready to progress forward. Attending one of our popular Thought Leadership events, Partner Summit and Advisory Symposium, can provide you with valuable insights into the steps you need to take to redefine your business model and hear the perspectives our guest practitioners have gained over years of offering advisory services. Practice Forward provides tools, methodology, and 1-1 consulting to help you get paid for your value and knowledge, offer proactive services that clients are looking for, and grow your accounting firm.
Making Progress
Based on your responses, your Advisory Progress Report indicates you are making progress in your advisory journey. You have taken impactful steps to integrate advisory into your accounting firm and your client relationships. Although, it's possible you feel there is more to do to be compensated for the value you bring and to continue structuring advisory across the firm. To progress further in your journey, we recommend that you check out one of our popular Thought Leadership events, Partner Summit and Advisory Symposium, to learn the steps you need to take to redefine your business model and hear the perspectives our guest practitioners have gained over the years offering advisory services.
Based on your responses, your Advisory Progress Report indicates you are making progress in your advisory journey. You have taken impactful steps to integrate advisory into your accounting firm and your client relationships. Although, it's possible you feel there is more to do to be compensated for the value you bring and to continue structuring advisory across the firm. To progress further in your journey, we recommend that you check out one of our popular Thought Leadership events, Partner Summit and Advisory Symposium, to learn the steps you need to take to redefine your business model and hear the perspectives our guest practitioners have gained over the years offering advisory services. Through Practice Forward, you will have access to a wide range of resources, tools, and 1-1 consulting to help you get paid for your value and knowledge, offer proactive services that clients are looking for, and grow your accounting firm.
Going Strong!
Based on your responses, your Advisory Progress Report indicates you are going strong in your advisory journey. Advisory has a solid presence in your firm because you understand that clients want your knowledge and expertise over just compliance transactions. As a firm who is going strong, you might enjoy attending one of our popular Thought Leadership events, Partner Summit and Advisory Symposium, for insightful workshops and ample networking opportunities with firms who value progression. As you continue to scale advisory across your firm, consider Checkpoint Edge for content, how-to guidance, and end-to-end processes that enables you and your staff to perform advisory services with confidence while adhering to professional standards.
Based on your responses, your Advisory Progress Report indicates you are going strong in your advisory journey! Advisory has a solid presence in your firm because you understand that clients want your knowledge and expertise over just compliance transactions. As a firm who is going strong, you might enjoy attending one of our popular Thought Leadership events, Partner Summit and Advisory Symposium, for insightful workshops and ample networking opportunities with firms who value progression. As you continue to scale advisory across your firm, consider Checkpoint Edge for content, how-to guidance, and end-to-end processes that enables you and your staff to perform advisory services with confidence while adhering to professional standards. Practice Forward provides proven methodology, guidance, and tools that accounting firms need to develop and implement an advisory services approach to engaging clients.
Based on your responses, you are in the early stages of your advisory journey. But don't worry, you have a solid foundation to build upon. Maybe you feel like you are giving knowledge and value away for free, or perhaps you wish client relationships were less transactional and more strategic. If so, you are certainly not alone! Accounting firms across the country continue to express a similar sentiment. Fortunately, there is a path to success if you are ready to progress forward. Attending one of our popular Thought Leadership events, Partner Summit and Advisory Symposium, can provide you with valuable insights into the steps you need to take to redefine your business model and hear the perspectives our guest practitioners have gained over years of offering advisory services.
Name_______________________________________________________________________ Email_______________________________________________________________________ Job title____________________________________________________________________ organization type___________________________Country___________________
Name Email
No
Yes. We have a few that we have created new per client
Yes. We have a collection of tools "library style" that we use regularly, but we recognize some missing pieces
We don’t offer advisory services
They do not know
Some know
Every client knows because it is an emphasis in our firm
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Hac scelerisque ac commodo tortor, perferendis volutpati!
c
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Non-existent
Just getting started
Building out structure
We are there – center client relationships around advisory
Where does your firm sit with Advisory Services as a focal point in your firm?
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