Are You Leaving Money on the Table? The Untapped ROI of Advisory Services

Are You Leaving Money on the Table? The Untapped ROI of Advisory Services

You may be feeling the ground shift under your feet as AI streamlines the once-tedious tasks of data entry and reconciliations.

If so, you're not alone. The accounting landscape is transforming rapidly, pushing firms like yours toward a future where advisory services become more essential to the client offering, rather than a value add to the traditional accounting services.

This isn't just about keeping pace with technology—it's a golden opportunity to deepen client relationships, extend client engagements, increase our revenue per client, and carve out a competitive edge.

Mastering the Return on Investment (ROI) of these advisory services isn't just smart; it's essential for any firm ready to thrive in this new era.

In this article, I’ll dig deeper into what it really means to offer advisory services and provide you with actionable tips to effectively package, price, and promote these services to your clients.

The Shift to Advisory Services

Gone are the days when accountants were seen merely as number crunchers. Today, the landscape is changing dramatically, and AI is accelerating the evolution of the modern accountant.

As Artificial Intelligence takes over the repetitive tasks, it frees up accounting business owners to step up as strategic advisors. This shift is more than a change of tasks—it's a fundamental shift in how accountants add value to businesses.

Here’s what this shift involves:

  • From Data Entry to Strategic Insight: AI will handle the grunt work of data entry and basic calculations in an increasing capacity, allowing accountants to analyze the bigger picture and offer strategic guidance.
  • From Compliance to Advisory: Instead of focusing solely on compliance and bookkeeping, accountants are now partners in strategy, helping clients navigate complex business landscapes with informed advice.
  • From Transactional to Relational: The role of the accountant is evolving from transaction-based interactions to building deeper, ongoing relationships with clients, focusing on long-term business success. Answering more the question, “therefore what?”

This transformation is vital in today's business environment as companies seek not just to comply with regulations but to gain insights and strategies that can propel them forward. Accountants are now crucial in guiding these strategic decisions, marking a significant evolution in the profession.

Also read: Top Trends that Will Define Accounting in 2025 and Beyond

Understanding What Advisory Services Mean

Advisory services in accounting are transforming the way firms support their clients, moving beyond basic accounting tasks to offer a broader spectrum of strategic support. These services are designed to help clients not just survive but thrive by making smarter business decisions.

Here's a closer look at what advisory services typically include:

  • Financial Forecasting: Helping clients predict future financial scenarios based on current trends and historical data. This allows businesses to plan for growth, anticipate challenges, and allocate resources more effectively.
  • Business Strategy Planning: Assisting clients in developing long-term strategies that align with their business goals. This might include expanding into new markets, refining product offerings, or restructuring the organization for better efficiency.
  • Tax Advisory: Providing expert advice on how to manage taxes efficiently, including identifying tax-saving opportunities and planning for tax liabilities in advance.
  • Management Consulting: Offering guidance on business operations, helping clients improve management practices, enhance productivity, and increase profitability.
  • Financial Health Assessments: Conducting thorough reviews of a company’s financial statements to evaluate its financial health, identify potential issues, and suggest corrective actions.
  • Risk Management: Helping clients identify, assess, and manage financial risks, ensuring they are prepared for potential financial uncertainties.
  • Technological Implementation Advice: Guiding clients on the integration of new technologies into their business processes, which can improve efficiency and data accuracy.
  • And more, extending beyond the accounting-related areas of business to those that impact the valuation of the business.

The goal of these advisory services is to provide clients with valuable insights that enhance business efficiency, reduce costs, and support strategic growth. The goal should be to ultimately impact the worth of the business, a great example being EBITDA. By offering these services, accounting firms can help their clients navigate complex business landscapes and make informed decisions that lead to long-term success.

Packaging of Services

To effectively market these comprehensive capabilities, firms must smartly package their advisory services. Packaging involves bundling various service offerings into tiers or customized plans tailored to different client needs.

For example:

  • Basic Package: Bookkeeping (Write-Up), and Tax Preparation (filing).
  • Premium Package: Includes the basic package plus accounting, financial budgeting & forecasting, and strategic tax planning.
  • Elite Package: Covers all premium services along with CFO & Advisory Services addressing cash flow (capital, including banking and investor relations), the overall business model for business growth, risk management, and technology solutions.

Effective packaging helps clients understand exactly what they’re getting, making the perceived value more tangible.

Pricing of Services

Pricing these packages can be challenging but must reflect the expertise, value provided, and the specific needs of the client.

Here are a few strategies:

  • Value-Based Pricing: Set prices based on the perceived value to the client rather than just the cost of delivering the service. For example, if your advisory services can help a client save $50,000 per year in tax, charging a fee that reflects a portion of these savings can justify your pricing.
  • Retainer Models: For ongoing advisory services, consider a monthly retainer model. This ensures regular income for the firm and continuous support for the client.
  • Customized Pricing: Offer bespoke pricing for clients with unique needs, which can be adjusted based on the scope of services required.

Recognizing the Value Provided

It's essential for accountants to effectively communicate the value of their advisory services. Clearly showing how these services can drive tangible business improvements will not only justify the investment but also build lasting client relationships.

Here are some concise, powerful tips to demonstrate how these services lead to tangible business improvements:

  • Use Clear Language: Explain your services using straightforward terms that directly link to client benefits like increased profits or reduced costs.
  • Highlight Success Stories: Share relatable case studies and testimonials that showcase the real-world benefits clients have gained from your advice, emphasizing measurable improvements.
  • Quantify Benefits: Provide specific figures to illustrate the impact of your services, such as “Our advice helped increase a client’s revenue by 20% within six months.”
  • Offer Free Workshops: Conduct workshops to discuss industry challenges and how your services provide solutions, showcasing your expertise and the direct benefits of your advisory.
  • Create Informative Content: Develop and share content that details the advantages of your services, like blogs or infographics on effective tax strategies or the ROI of business planning.

These strategies help clarify the value of your advisory services, making it easier for clients to understand and appreciate the positive changes your guidance can bring to their business.

Also read: Future-Proof or Fail: The AI Skills an Accountrepreneur Can’t Ignore

Explaining the ROI of Advisory Services to Clients

When it comes to discussing the ROI of your advisory services, clarity and precision are key. Here’s how to make the value crystal-clear to your clients:

  • Cost-Benefit Analysis: Provide a straightforward comparison of what your services cost versus what your clients stand to gain. For example, detail how investing in strategic tax planning with your firm can significantly reduce their tax liabilities. Use real numbers to make this tangible, like showing a calculation of potential tax savings based on previous client outcomes.
  • Scenario Simulation: Employ financial models to create visual simulations of different business scenarios with and without your advisory services. This approach helps clients see potential financial results, such as increased profits or cost reductions, that can arise from acting on your strategic advice.
  • Highlight Long-term Value: Emphasize the enduring benefits of your services. Explain how, beyond immediate financial gains, your advice contributes to long-term business stability and growth. For instance, discuss how improved financial practices can lead to sustained cost management and revenue growth over time.

Immediate Next Steps

For accounting firms ready to enhance their advisory services, here are actionable steps:

  • Evaluate Your Tools: Ensure you have the right tools and software to efficiently manage routine tasks, freeing up time for advisory work. Consider how you are or may use AI within the firm to do the work more efficiently.
  • Train Your Team: Invest in training your staff not only in the use of AI but also in understanding complex financial advisory, strategic thinking, and client communication skills.
  • Market Your Services: Update your marketing materials to highlight your advisory services and the specific benefits they offer.


I'd love to hear your thoughts! How does your firm handle advisory services? What tactics have you found successful in demonstrating their value to your clients?

Please share your experiences and insights in the comments below.

Additionally, if you’re looking to delve deeper, I invite you to explore the various resources available on my website. These materials are designed to enhance your understanding and implementation of effective advisory services.

And if you're ready to take your firm’s advisory capabilities to the next level, book a call with my team. We’re here to help guide you through the complexities and maximize your firm's potential.

Let’s achieve great things together!

Additionally, for more insights into enhancing the ROI through strategic advisory services, be sure to check out my free ebook,“Your Strategic Accountant”.


About Roger Knecht

Roger Knecht is president of Universal Accounting Center, a post-secondary school for accounting professionals. With over 20 years of marketing, sales, HR & operations experience, Roger Knecht has helped thousands of business owners work ON their businesses to increase revenue, improve profits and build value. His strong work ethic and collaborative style delivers reliable, high-quality results for business owners.

Roger’s podcast, Building the Premier Accounting Firm, keeps accounting professionals on the cutting edge of the industry offering quality bookkeeping, accounting, and tax services. He hosts discussions with some of the accounting world’s best minds and shares actionable insights for firms.

Roger is the author of “Your Strategic Accountant” and “Your Profit & Growth Expert”, each written to help business owners understand what they can expect from the accounting profession.

Universal Accounting provides accounting professionals with the training, certifications, coaching, and support they need to become Profit and Growth Experts for their clients.


Shantanu Verma

Helping consultants get (and stay) fully booked!

1 周

Yes! AI isn't replacing accountants, it's elevating them from number crunchers to strategic advisors. This shift from 'what happened' to 'what's next' is where the real transformation happens. The magic lies in blending technology with human insight. :)

回复
Mitchell Levy, CCS

Inc 5000 CEOs Leading the Future with Executive Gravitas | Exec Coach: Marshall Goldsmith’s 100 Coaches | Top 16 Leadership Voice | 2x TEDx Speaker | Intl Bestseller 65 Books | x-Public Board Member

2 周

Insightful perspective on the evolving role of accountants as strategic advisors! As AI takes on routine tasks, the real value lies in providing clients with strategic insight and deeper relationships that build trust and long-term success. Moving from compliance to advisory services isn’t just a shift in tasks—it’s a transformation that requires clarity, credibility, and a commitment to client impact. I’ve seen how this approach, with structured processes and clear value communication, creates a legacy of leadership and competitive advantage for firms. Great roadmap for firms and individuals who are ready to embrace the advisory role fully!

回复
Rohit Kumar -Digital Transformation Expert

Microsoft 365 & SharePoint Specialist | Power Platform Expert | Digital Transformation & Process Automation Consultant | IT Solutions & Business Efficiency Advisor

2 周

Great insights ! With 15+ years in SharePoint, Power Platform, and Azure, I’m open to new full-time or contract opportunities to drive innovation and efficiency. ?? #JobSearch #Microsoft365 #PowerApps #Azure #TechTalent

Shahana Alibhai

As a TEDX speaker, best selling author of “Feel Better” and family physician, I empower individuals & organizations to improve culture, performance and communication by optimizing emotional and mental health

2 周

Tax advisory alone can save clients thousands! Firms that offer this as part of advisory are adding real, measurable value.

Leo Kanell

I Secure Funding for your business - 0% Lines & No Collateral Loans?? Prospects Need Funding? 7FiguresFunding.com??

2 周

Packaging services in tiers is genius! It makes the value more tangible and shows clients exactly what they’re investing in.

要查看或添加评论,请登录