How to Fail-proof Your Transition from Compliance to Advisory

Compliance is not hitting the mark for clients anymore. If you want to create sustainable success, building an advisory sector is a game-changer that will not only keep you afloat but also brings more opportunities to your door.

These days, businesses want their accounting providers to give them authentic advice on how their finances can be optimized for operations, management and the overall health of their company.

The compliance work is still a backbone of your firm. You may need a few of your staffs as a part of your advisory board. It’s either you sort out the work load accordingly or hire new people to join the team. This could also mean restructuring your workforce.

Your staff may not like these changes so communication is vital to succeed in this shift. Everyone in the company must agree to work forward for one goal. The essential is to understand what’s going on in your firm and create structured analysis and a processes map to get ready for the changes.

Do market research and plan the legwork. Develop a change of management plan. Analyse how each team member can help and find the stakeholders and key influencers for this transition. When it comes to building your service products, research your current and previous clients’ dilemmas within their organisations. Find their pain points and from there, create irresistible packages and turn them into outstanding solutions.

As advisors, you will help clients prevent future risks. Your role is to guide them to understand numbers in a more simplified way. You will have to forecast scenarios and create safe-fail strategies. You will assess client’s current tools and investigate potential issues that may affect their overall businesses.

Before you build the future-focused framework for your transition, find the right technology to partner and help you handle the heat of changing from compliance to advisory. You should embrace cloud technology for better flexibility and data centralisation.

There should be a resource centre where your clients can get insights on your new advisory services. Expect that there will more requests and enquiries from clients as you transition to an advisory role. Make sure you are ready for these questions and portray your capabilities and competency. Automating your email responses in a highly-targeted and personalised manner will save you an enormous amount of time. A cloud computing tool with proven-effective email marketing systems like Infusionsoft is what you needed for your firm. With an innovative system like Infusionsoft, project management such as dataflows, timelines and processes can also be automated and simplified.

Such technology lets you automate clients’ year-end processes and tailor data-driven reports. These automated processes bring exceptional capabilities for range of advisory products. The powerful reporting tools, dashboards, email marketing system and appointment automations are essential to simplifying your advisory firm’s daily grind. Overall, cloud computing can help you bring high-value advisory services and go beyond compliance with better efficiency.

Because you must use more than accounting software for your advisory services, Infusionsoft helps your foster an advisory team that is digitally-minded and loves to avoid clutter. Infusionsoft is a tool that will work with you hand in hand to bring intuitive solutions to your firm and to your clients so you can work collaboratively and seamlessly.