The recently released 2023 Global Advisory Trends Report by Spotlight Reporting shines a light on the evolving landscape of our industry. Here are some key takeaways: 🔹 65% of accounting firms now identify as progressive or hybrid, significantly expanding their advisory services. 🔹 56% offer management reporting, mentoring, and forecasting but feel they could achieve much more. 🔹 42% aim to generate 51% of their future revenues from advisory services. 🔹 The top areas for fee growth include Virtual CFO and advisory work, followed by strategic planning and coaching. As the accounting profession continues to adapt and grow, these insights are invaluable for shaping our strategies and services at Lowe Lippmann. We are committed to staying ahead of the curve and providing exceptional advisory services to our clients. #Accounting #AdvisoryServices #SpotlightReporting #FutureOfAccounting #LoweLippmann
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Important FREE course - please share Yesterday's post reported McKinsey's findings that CFOs are increasingly expected to tackle strategy issues way beyond the financials alone - to become the "strategic CFO", leading efforts on this huge range of strategic responsibilities. And this fits exactly with the calls from big accounting institutions for their members to offer "strategic management accounting" support to management (SMA). But all of this is a big 'ask' for professionals who simply have no methods or tools to fulfil that expectation. The FREE COURSE. This is so important that I am offering free access for a few days to my short course on how dynamic models can enable truly strategic management accounting. http://sdl.re/freeSMAlikw In 1.5 hours, you will see: - what strategic management accounting should offer, to fulfil the full range of strategy needs - what existing strategy methods and financial analysis can - and can't - do - why SMA requires models that quantify and visualise how the business system (or key parts) actual functions as a working system - a simple "digital twin" time-based model that achieves that requirement, while being practical and fast to build - why and how these models can help deliver truly strategic management accounting and enable the strategic CFO to step up to these big new expectations. PLUS - you get 2 free papers documenting in detail the challenges and solutions for strategic management accounting. "The strategic CFO" - see http://sdl.re/vem54 #strategy #strategicmanagement #accounting #digitaltwin #businessmodels #simulation #CFO #CIMA
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A quick metrics analysis of a firm can tell a story that will reveal immediate profit enhancement opportunities.
Building Revenue per Professional Head (RPH) in a CPA Firm Accounting firms have long used benchmarking, but are they leveraging it to understand the drivers behind each metric? In our latest video, Bob and Doug Lewis present a session on the importance of Revenue per Professional Head (RPH) and how secondary metrics enhance a firm's value, culture, sustainability, and marketability. This session guides leaders through the secondary metrics to monitor, how these metrics interact, and the levers to pull to achieve optimal outcomes. Firms can apply this strategy to drive growth, profitability, and staff retention, and position themselves for M&A activity and succession. Watch the entire video here: https://hubs.ly/Q02HHVBN0 Key Takeaways: Awareness of the hierarchy and interaction of key metrics. Understanding actions needed by metric to increase outcomes. Creating a process to redefine firm operations and market approach. Steps to build optimal enterprise value.
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The CPA firm leaders I speak to daily face similar challenges: struggling to attract talent, trying to serve too many clients for too low fees and being unable to keep talented supervisors and managers on the partner track. All these challenges relate to a firm’s business model. Learn more about evolving the business model by navigating changes and seizing opportunities from Jon Hubbard here: https://boomer.link/kao #cpa #accounting
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Building Revenue per Professional Head (RPH) in a CPA Firm Accounting firms have long used benchmarking, but are they leveraging it to understand the drivers behind each metric? In our latest video, Bob and Doug Lewis present a session on the importance of Revenue per Professional Head (RPH) and how secondary metrics enhance a firm's value, culture, sustainability, and marketability. This session guides leaders through the secondary metrics to monitor, how these metrics interact, and the levers to pull to achieve optimal outcomes. Firms can apply this strategy to drive growth, profitability, and staff retention, and position themselves for M&A activity and succession. Watch the entire video here: https://hubs.ly/Q02HHVBN0 Key Takeaways: Awareness of the hierarchy and interaction of key metrics. Understanding actions needed by metric to increase outcomes. Creating a process to redefine firm operations and market approach. Steps to build optimal enterprise value.
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I help accounting firm leaders develop their people and strategically grow their firms. | Managing Director at Upstream Academy | The Upstream Leader podcast co-host
The future of accounting isn’t just about numbers—it’s about relationships, strategy, and creating value. High-performing firms understand this shift and are evolving to meet it head-on. They’re asking: How can we 𝘢𝘯𝘵𝘪𝘤𝘪𝘱𝘢𝘵𝘦 client needs instead of just reacting to them? How can we 𝘥𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘵𝘪𝘢𝘵𝘦 ourselves as indispensable advisors? How can we 𝘣𝘶𝘪𝘭𝘥 𝘤𝘶𝘭𝘵𝘶𝘳𝘦𝘴 where people thrive—and so do our clients? The answer starts with embracing an 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆 𝗠𝗶𝗻𝗱𝘀𝗲𝘁: 🌟 Align your expertise with your clients’ most pressing goals. 🌟 Invest in trust-filled relationships that foster loyalty and growth. 🌟 Commit to the disciplines that elevate your firm’s culture, people, clients, and growth. If you’re ready to transform your client relationships and lead your firm to the next level, you don’t have to go it alone. Our white paper, “𝘏𝘰𝘸 𝘵𝘰 𝘈𝘥𝘰𝘱𝘵 𝘢𝘯 𝘈𝘥𝘷𝘪𝘴𝘰𝘳𝘺 𝘔𝘪𝘯𝘥𝘴𝘦𝘵: 𝘔𝘰𝘷𝘪𝘯𝘨 𝘉𝘦𝘺𝘰𝘯𝘥 𝘊𝘰𝘮𝘱𝘭𝘪𝘢𝘯𝘤𝘦,” is a practical guide to helping you make this leap. 📩 https://lnkd.in/gdzDcexT The opportunity is here—let’s build firms that not only succeed but thrive in every way. #HighPerformanceFirms #AdvisoryMindset #AccountingLeadership #UpstreamAcademy
How to Adopt an Advisory Mindset - Upstream Academy
https://www.upstreamacademy.com
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Sales & Growth Strategy for the Mid-Market | Creator, Strategic Selling Academy | Author, The Modern Seller | Board Member | Angel Investor
TODAY AT 1PM EST/10AM PST: Join me for my new webinar in the BILL Accounting Insights Series: Optimize Your CAS Practice By Mastering Advisory Skill Sets. The ideal Client Advisory Services (CAS) practice helps you and your clients establish the ideal AP and spend management structures in your back office. Your firm may also have other offerings that fall within your CAS umbrella. Whatever it looks like in your firm, the advisory in CAS is often the most complex to implement. Advisory relies on your people; their expertise takes CAS from technological efficiency to improved business client growth. In this webinar, you'll learn how to: ✳️ Recognize what clients truly value when it comes to the advisory in CAS ✳️ Define the skills, mindsets, and firm leadership required to create a successful advisory practice ✳️ Practice building advisory skill sets into your existing staff development programs ✳️ List concrete ways to position the value of your advisory skills in the marketplace and with clients Register here: https://lnkd.in/gn-WegaR I look forward to seeing you on Wednesday. Please let me know if you have any questions about this event! #ModernSeller #Accounting #AccountingMarketing #BizDev
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📬 Elevate your inbox with some serious business intelligence! Whether it's David Toth, disrupting traditional strategic planning and digital transformation, or Gary Shamis, recognized for his contributions to firms' strategies and best practices (as featured in Accounting Today), our team at Winding River Consulting is dedicated to sharing our expertise to assist accounting professionals in transforming their approach to business strategy and innovation. 📨Subscribe today: https://hubs.ly/Q02rc1Zy0 #accounting #firmstrategy #strategicplanning #firmgrowth
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Senior Vice President - Follow me #CHALKBOARDTALK - Book a Conversation just below! - Finance/Accounting/Tax
Our very own Steve Saah, Executive Director of Finance and Accounting Permanent Placement, Robert Half discusses tactics business leaders utilize to attract accounting and finance professionals. #RobertHalf #chalkboardtalk
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An evolving financial reporting landscape and a talent shortage can present challenges to CFOs and their teams. In a CFO Brew Q&A, Deloitte’s Chris Chiriatti explains how cosourcing can strategically bolster internal teams with the experience, skills and breadth of external finance and accounting professionals. Read now. https://deloi.tt/3XCvd0A
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An evolving financial reporting landscape and a talent shortage can present challenges to CFOs and their teams. In a CFO Brew Q&A, Deloitte’s Chris Chiriatti explains how cosourcing can strategically bolster internal teams with the experience, skills and breadth of external finance and accounting professionals. Read now: https://deloi.tt/3VXBCT3
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Great insights, Leon Jacobs. Your thought leadership on evolving role of accounting firms towards expanding advisory services and strategic planning for future growth is very valuable. Appreciate you sharing your expertise.