In my previous blog post, I explained the difference between a trusted advisor and a standard accountant. You learned that a trusted advisor focuses on proactive work, as well as performs the reactive, compliance-related work that the standard accountant does. I promised you examples of these proactive services and here is a list:
· Cash Management and Forecasting
· Sounding Board for any Business Issues
· In Depth Monthly Financial Review
· Product Pricing Analysis
· Profitability Analysis by Product or Customer
· Process/Workflow Improvement
· Budget-to-Actual Comparisons
· Benchmark Comparisons to a Group of Your Peers
· Customized Key Performance Indicator Tracking
· Graphical Financial Reporting Dashboard
· Analysis of Potential Big Asset Purchases or Investments
· Assistance in Obtaining Debt Financing
A trusted advisor is so much more than an accountant; they are a partner in helping build your business. By looking at your business via the examples above, you can identify strengths and new opportunities.
Could your company benefit from any of these proactive services? If so, then you need more than a standard accountant – you need a trusted advisor.