Business Essentials SoundCartel

Whether we like it or not, artificial intelligence, including ChatGPT, will have a transformative impact on the accounting profession. These tools are like employing a junior accountant, says David Smith of Smithink.

Don’t be afraid of it, he insists. Use it, it saves you time, and it’ll provide you extra resources that accounting firms are increasingly finding it hard to access.
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To differentiate your accounting practice from others is the way you service your clients. That’s according to Brad Turville, a coach and consultant to accountants.

Word-of-mouth is a powerful marketing tool, and if you offer an exceptional service, he says, they’ll tell their friends, family and peers.

Brad Turville https://bradturville.com/ 
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It’s always hard for businesses to secure finance at any point, but it’s getting increasingly difficult these days as banks tighten their lending requirements. So how can accounting firms help their business clients obtain finance?

It’s something that Peter Angelini and his team take quite seriously. Peter’s the CEO of accounting firm Stannards Accountants and Advisors in Melbourne’s eastern suburbs.

He explains what banks require these days and what Stannards does to help their clients prepare for those applications. It takes time, but done properly many of their clients are able to secure much needed funds.

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Stannards - https://www.stannards.com.au/ 
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A lot of businesses and accounting firms are happy that 2022 is over. It’s been a brutal few years with Covid, and now many practice owners are looking forward to a more prosperous 2023.

That observation is from advisor to the accounting industry, Mark Holton of Smithink. Mark outlines what accountants can do to have a profitable rest of the year.

More: https://smithink.com/ 
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With so much compliance work available, many accounting practices don’t have the time or inclination to set up an advisory service. The problem is they could be limiting their potential for higher growth and profits.

That’s according to Emily Splatt of Mindshop, a company which consults practices with providing advisory services. If you’re thinking of implementing advisory services or want to ignite higher performance with your current offering, Emily has eight keys to help you get there.
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One of the biggest challenges for practices around the country right now is the shortage of accountants. A shrinking talent pool is indeed a headache, but it’s also an opportunity to reassess which of your clients provide the best value.

That’s according to Alan FitzGerald, founder of Practice Connections Advisory. Other opportunities for accounting firms include ever-improving cloud technology, particularly artificial intelligence and CRM software which help accountants better service their clients.

Practice Connections Advisory: https://www.practiceconnections.com.au/ 
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