Most accounting professionals have a towering backlog of client projects on their desks, leading to long hours at the office and considerable overtime. This results in a reluctance to change, especially a fundamental change like the way you price your clients. A change in pricing strategy – reconsidering where less time can be spent, and which areas need developing or improving – is something you seldom contemplate in the turmoil of daily business.
Price consultants can help you implement Cloud Pricing, easing the burden of getting your firm and staff members onboard and taking an extra workload off your table. This will enable you to spend more time on the specialised field you want to focus on.
Being content with the way you price, just because you “are used to it” and have “bigger fish to fry”, is far from the most profitable way of taking your business to the next level. On the contrary, the opposite applies. According to research on Cloud Pricing’s effect on an accounting business during its first year of implementation, it is safe to say that the longer you wait, the more profit you lose.
The following results are worth mentioning:
- The average spent annually per client group increased by 43%!
- The sales process is perceived as transparent by clients, improving the integrity of the company
- Upselling of previously under-paid work improved significantly e.g. to process year-end journals on the clients accounting system
- By offering the client various payment options, you simplify the client’s budgeting process and increase their cash flow
- 15% of all clients chose to pay the full amount in advance
- Other specialised services were introduced and sold through cross-selling
- Face to face Cloud Pricing meetings improved client collaboration
- Internal work efficiency improved due to a scope and pricing agreement serving as a job card
- Accurate scope and pricing proposals to new clients make price comparisons difficult for competitors and simplify the acceptance process
The ultimate benefit resulting from each of these above-mentioned achievements is the increase in bottom-line profit.
Take a bold step and contact us to set up a meeting with you at your earliest convenience.
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice. Errors and omissions excepted (E&OE)
