Integrative Advisory Services

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.

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

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.

With the introduction of cloud technology, much of the traditional data entry tasks of CPAs, accounting professionals, and bookkeepers has been greatly reduced. This is due to rapid technological innovation in which businesses can deploy high-integrity cloud-based systems, machine learning, and artificial intelligence.

Technology will continue its relentless march, so accounting professionals must adapt to the changing marketplace in order to thrive in this new paradigm. Integrative Advisory Services offers CPAs, accountants, and other financial services professionals a method for tapping into the power of cloud accounting technology in order to become a trusted strategic partner with their clients. Nothing can replace the human side of the client-advisor experience like accounting professionals’ ability to improve their clients’ businesses with reliable financial information.

Written by Amy Vetter—a noted expert on current accounting strategies—Integrative Advisory Services is filled with the information needed to help offer personalized advice, explanations, and guidance based on a client’s unique situation and financial needs. Vetter shows how to create an experience for your clients that they have not had before with other accountants or bookkeepers. By becoming an integral part of the real time decision-making process, your services are delivered proactively, rather than reactively, and you understand both the operational and financial sides of the business.

Take advantage of new technology and let it do the tedious number crunching for you. Retool your skills to get ahead of the pack and help your clients improve their businesses at a holistic level. With Integrative Advisory Services as your guide, you can integrate advisory services into your practice and expand your services beyond cloud technology to become truly valued by your clients.