Integrative Advisory Services Expanding Your Accounting Services Beyond the Cloud

Integrative Advisory Services is the CPA, accounting professional and bookkeeper's guide to the future. As technology paves the way for increased self-reliance and DIY financial services, much of the traditional data entry tasks of accounting professionals and bookkeepers will be reduced. Yet, nothing can replace the human side of the client-advisor experience and the desire to improve your clients' businesses with financial information. Technology will continue marching on, so accounting professionals must adapt to the changing marketplace to thrive in this new paradigm. This book shows you how to provide the kind of value that technology cannot: human connection. Rather than simply reporting data, today's accounting professionals have an opportunity to take a much more active role in their clients' business by analyzing the story behind the numbers, understanding both operations and finance, and guiding the client toward the outcomes they need. Creating an ongoing relationship throughout the year allows you to be proactive rather than reactive, and help your client's business at a holistic level.

Your business owner and CEO clients can get the numbers from the computer too—but, they come to you for personalized advice, explanations, and guidance based on their unique situation and financial needs. This book shows you how to take on more of an advisory role and become a critical component of your client's success.

• Spend less time crunching numbers and more time advising clients
• Become an integral part of the client's decision-making process
• Provide real value by clearly communicating financial data analysis
• Become the strategic partner your client cannot do without

Cloud technology, machine learning, and artificial intelligence are not the death knell for financial advisors; in fact, they're the opposite—they do the number crunching for you, leaving you more time to provide the personal guidance that no computer could. As the financial advisory industry evolves, Integrative Advisory Services is your real-world guide to adapting and thriving.

AMY VETTER, CPA, CITP, CGMA, has held many executive positions and leadership roles in the accounting technology industry overseeing customer, sales, education and marketing programs both nationally and internationally. Amy also has experience running multiple client accounting practices, including her own companies and as a partner in a CPA firm. Vetter is an advocate and evangelist for the accounting profession and entrepreneurship. She has inspired thousands of accountants and small business owners as a keynote speaker on business, financial, technology, and work-life balance topics. Vetter has been recognized as one of the Most Powerful Women in Accounting by CPA Practice Advisor, one of the Top 100 Most Influential People by Accounting Today, and was previously selected as one of the outstanding 40 under 40 by CPA Technology Advisor.

Preface v

Acknowledgments vi

Introduction vii

Chapter 1 History of the Accounting Profession:

From Compliance to Advisory 1

Technology and Humans 3

Looking Back on Accounting 5

Reaching for the Cloud 10

Humanity versus Machine 12

New Opportunities Abound 13

Where Does Your Business Go from Here? 15

Summary 17

Endnotes 18

Chapter 2 Bringing the Human Side to Technology 19

The Old Way of Data Flowing versus the New Way 21

What CEOs Want from Their CFOs 23

Choosing Your Vertical Industry Niche 25

Steps to Create Your Cloud Platform 34

The Cherished Advisor Journey 39

Summary 43

Endnotes 43

Chapter 3 The Cherished Advisor: The Transformation

Journey beyond the Technology 45

Documenting the Business Processes 47

Obtaining Needed Technical and Business Skills 55

New Staffing Model 60

Pricing and Packaging 66

Summary 70

Endnotes 70

Chapter 4 Strategies for Marketing Your New Advisory

Experience 71

How Do You Want to Design the Client Experience? 73

Building an Overall Architecture 74

Creating and Implementing a Marketing Strategy 81

Online Marketing 87

Networking 97

Referrals 98

Summary 99

Endnotes 99

Chapter 5 Creating a Successful Sales Model and Client

Onboarding Process 100

The Science of the Sale 101

The Simple Sales Process 102

Client Onboarding Process 116

Creating a Project Plan 123

Automating Your Internal Processes with CRM 131

Summary 133

Endnotes 133

Chapter 6 Building Lasting Relationships 135

Creating Personalized Virtual Relationships 140

Creating Touch Points to Stay Engaged 142

Interpersonal Awareness to Succeed as an Advisor:

Collaboration, Influence, Negotiation,

and Communication 147

Leadership Capabilities to Grow the People Around You:

Team Satisfaction and Rewards 158

Succession Planning Tactics for Bringing Up the Next

Generation of Leadership 167

Summary 175

Endnotes 176

About the Author 177

Index 179

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