Practitioners in the past regularly have given away so much of their time for free. This typically arose where they had provided strategic, commercial and business advice outside of the original scope of work.
Many accountants find it difficult to discuss fees. More recently, new tools in the market such as Go Proposal and Ignition began to help accountants to have more successful pricing conversations with their clients.
We spoke with James Ashford, Co-Founder of GoProposal, who shared invaluable insights to transform your firm's pricing strategies.
Research from Spotlight Reporting says that 65% of firms identified themselves as ‘Progressive’, offering mainly advisory services. Adding these services as standard at the beginning of the year allows practices to build a package of annual engagements, which can then be broken down into a monthly payment, providing regular monthly recurring revenue (MRR) to the firms. One accountant says by offering business information insights to their clients, they have increased fees on average by 400%.
In this short guide we discuss:
- The benefits of using an MRR model
- How our accounting partners are currently implementing this
- Value-based services you can add to streamline your firm’s revenue
- Ways to add true value to your clients, without adding many hours ‘to the clock’