Why do accountants exist? (3 of 3)

By way of recap, in the last couple of posts, I’ve been writing about what I think are the reasons why accountants exist (leaving to one side the compliance,legal & regulatory requirements) . Reason 1 = make money, reason 2 = save money. To my mind reason 3 is to SAVE TIME.

We are all familiar with the cliche time is money. As I’m sure I’ve said before in earlier posts, cliches are often cliches because they are true. So it follows that if you can save your client time you in effect help them make money or save money. For the most part, if your client can spend less time on a business process that you identified can be streamlined then you give your client “more” time to focus on other areas that can help the business grow.

As one of the key advisors to your client’s business, you are in a wonderful position to identify ways and methods on how you can save your client time.

To wrap up this 3 post series … if you can’t either make money, save money and/or save time for your client you are little more than a commodity provider of compliance services. Unfortunately when a service becomes a commodity you are locked into a cycle of high volume/low margin service provision – since there are literally thousands of providers in Australia and offshore that can produce tax returns, accounts and the like for rock bottom prices. I wouldn’t have thought this is the path to growing your practice into a team of trusted advisors making a difference for your clients.

Until next time,

James E