0:22 Best on Ground
Xero Users Magazine – Issue 14
‘Balanced opinion, great industry insight – massive tick this month.’
Why ‘Profit’ is Wrong - Jason Andrew
‘A good, honest look - something I’ll be using in my firm.’
Dear Marketing Teams - Kylie Parker
‘Accounting industry information overload – we need to learn to say no.’
Jimmy Kimmel Teases PwC
In accounting, big news is usually bad news.
8:20 Worst on Ground
The Accountant’s Guide to AI, Cloud Software and the Robot Revolution https://www.accountingtoday.com/opinion/the-accountants-guide-to-artificial-intelligence-cloud-software-and-the-robot-revolution
Rise of the robo-accountants.
Xero’s New Social Media Ads
Say No to Accounting Outsourcing - Gavin Bottrell
‘The horse has bolted. It’s done. Offshoring is here to stay.’
A Notice to Accountants Who’ve had Enough of the Same Old Same!
‘If you’re in a dead end, that’s on you – that’s not the role. The cream rises.’
Are You Ready for the Roll Out of Single Touch Payroll
We have to come to grips, quickly.
24:05 5 in 5 Summary:
We’re joined Phil Beaney, Owner and Management Accountant at South Rock Advisory, on what it’s like being a virtual CFO:
· Whereas accountants cover a range of compliance, reporting and structuring engagements, a virtual CFO creates linkages between operational parts and financial outcomes
· The relationship is not something you can achieve quickly – it takes long term discussion with client to ride through the challenges
· There’s no silver bullet for ‘I’ve got an accountant’ – you need to articulate the commercial challenge and depth of knowledge needed
· The biggest challenge is connecting with clients, and now knowing where revenue is coming from,
30:44 In-Depth Topic:
What does a successful referral relationship look like? How do you put a number on success? This week the boys tackle referral arrangements and strategic partnerships from all angles.
Paul fundamentally thinks referral relationships don’t work. He feels it’s often purely about ‘what’s in it for me?’ without simply being able to refer someone whilst maintaining independence, credibility and accountability.
Dave on the other hand felt referral relationships were an integral factor in his business, and believes the emergence of a network of advisors is an accountants true competitive advantage and a key value-add to clients. Saying this, the easiest way to lose clients is to refer someone you don’t know or more importantly, don’t trust.