Tax & AccountingSeptember 06, 2022

3 steps to creating capacity for advisory services

By: Wolters Kluwer Tax and Accounting

Time is money. And thanks to technological advances in the form of practice management and workflow automation tools, tax and accounting firm staff are saving more time than ever. That’s allowing accountants to shift their focus away from mundane data entry tasks and take on the role of trusted business advisor. 

This tech-fueled growth in advisory services is good news for clients, who are hungrier than ever for expert advice, outsourced business processes, financial strategy, and virtual CFO services. In fact, a 2020 survey by revealed that advisory and consulting are clients’ greatest unmet need, with 29% of clients saying they were looking for these services.

Finding the time to provide clients with guidance and advice

While clients are asking for these advisory services, many firms are running into a common issue – the lack of staffing and capacity to offer these services.  

However, there are firms that have successfully integrated client advisory services – or changed their business model altogether. These firms leveraged technology to help them create the capacity they needed by taking steps to:

  • Standardize, optimize, and automate processes, providing staff with the time to work with clients on higher-value advisory service engagements  
  • Offload routine data entry and transactional tasks to experienced tax professionals, helping to stabilize (and normalize) staff bandwidth  
  • Reduce the most time-consuming part of tax advisory services – identifying clients impacted by changing state and federal legislation (or changing life events) – with technology tools that leverage advanced technologies

Learn how to identify the technologies your firm needs to create capacity for advisory services

In an upcoming webinar, Jason Kadow, CEO of KMA Accountants and Advisors, along with Wolters Kluwers’ Ray Barlow and Mark McAndrew, share the technologies they adopted to help their firms grow. During the webinar, “How to Choose the Technology that Will Help You Create Capacity for Advisory Services,” you’ll learn more about how Jason’s firm uses technology in their client advisory practice, including how they:

  • Assessed their existing capacity constraints
  • Identified opportunities for staff to gain back time 
  • Found a path to sustainable growth with existing staff at peak productivity

If you’re ready to learn how other firms have successfully found the time to improve their client experience with advisory services, join us on September 20 at 2 pm EDT.

Register Now.

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and expertise that helps tax, accounting and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed and accuracy.

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