strategy

ge outsources tax department to pwc

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big four firm finds new growth in acquiring clients’ tax and accounting departments.

by 卡塔尔世界杯常规比赛时间 research

ge is hiving off its tax group to pwc to become pwc’s new global enterprise tax solutions team. their first client: ge.

pwc calls the move “an innovative agreement with ge to provide integrated, enterprise managed tax services to ge on a global basis.” as part of the deal, pwc is hiring more than 600 of ge’s tax team members from around the world and acquiring ge’s tax technologies to bolster both pwc’s focus on the “tax function of the future” and to provide global enterprise tax solutions to clients. it may be a sign of things to come. read more →

what products should you create?

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20 ideas to get you started.

by rob nixon

we are moving away from the time-selling business and into the productized ip business. the first step is to work out what you know and the second step is work out what the package looks like.

more on strategy: turn your knowledge into products | how to deliver wow! every day | communicate until it hurts | why a virtual team makes sense | 14 ways to leverage client data for new billings | what it means to be a real-time accountant | 12 predictions on the future of accounting | will the internet replace cpas?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

most accountants i meet believe that there are opportunities for additional business in their current client base. however, they don’t seem that active in discovering the opportunities nor promoting the services. i think it is a big disservice to the client if you do not promote new ideas and new services.
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turn your knowledge into products

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businessman with light bulb for head in front of conference table and upward-trending chartthe 3 things that have to be in sync.

by rob nixon

every time i do a seminar and ask the question “what do you sell?” the answer is always the same. they either say knowledge, solutions, me or ideas.

more on strategy: how to deliver wow every day | keep a watchful eye on clients | rewards go far beyond money | people still needed, but in different ways | don’t let technology make you dumber | are your goals big enough? | finding new opportunity in compliance services | how offshoring is shaking up accounting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i completely agree this is what you sell. however, the vast majority of business models of accounting firms suggest they sell “time.”
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20 ways to deliver wow! every day

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word "wow!"amaze clients with 8 ways to add real value and 12 ways to delight clients.

by rob nixon

i have been telling accountants to be proactive and add value ever since i started working with you in may 1994.

more on strategy: keep a watchful eye on clients | why clients really stay | 8 ways to build team engagement | how to create 4 new billable hours per day | do you know what clients want? | is your business by design or default? | the world is flat | the profession disrupted: compliance commoditized
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you are going to remain relevant you are going to have to be proactive and add value. that means the level of wow needs to improve.
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common leadership traps

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businessman writing on paperand how the author led his own firm.

by domenick j. esposito
8 steps to great

being a cpa firm leader requires you to “walk the talk,” make tough decisions and avoid common traps or errors that are attributable to a failure of providing persistent and consistent leadership.

more on strategic planning: leadership must be persistent and consistent | time running out for succession planning | the benefits of a client situation review | capital markets 101 | how to implement industry practice groups | 6 measures of partner performance | is your pyramid upside down?
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in addition to “walking the talk” personally, a ceo must drive action and change.
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keep a watchful eye on clients

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artistic kaleidoscope rendering of eyes and binary codethe cloud makes it possible.

by rob nixon

i love the way cloud technology is shaping the future of the accounting profession.

more on strategy: why clients really stay | communicate until it hurts | why a virtual team makes sense | 14 ways to leverage client data for new billings | what it means to be a real-time accountant | 12 predictions on the future of accounting | will the internet replace cpas?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i love it because for the first time in history you can see what is happening in your client base as it is happening. if the client is on a cloud accounting system as they are transacting every day, their software is automatically being updated with those transactions.
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leadership must be persistent and consistent

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two businesswomen on sidewalk in a big city8 questions to check whether you walk the walk, or just talk the talk.

by domenick j. esposito
8 steps to great

to me, all of the planning to become a mid-market sustainable brand becomes a reality through persistent and consistent leadership. in the end this, arguably, is the hardest part of the equation, as mistakes are very costly.

more on strategic planning: expand your national and global geographic reach | show clients how to improve working capital | do you belong in cybersecurity? | why you need marquee clients | net profits: how much to whom? | how to drive partner performance with a smart compensation plan | 3 tools to boost your metrics
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

a leader in a cpa firm, be it the ceo, managing partner or a senior partner, is the quarterback. he or she is the one who has to set the tone at the top and has a very big impact on the firm’s culture, behavior and compensation of the other partners in the firm.
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why clients really stay

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young businesswoman smiling down at tablet in officefocus on retention should turn into referrals.

by rob nixon

most firms have a high retention rate per client. that means their clients stay clients of the firm for a long period of time. somehow the accounting profession has got most of their clients bluffed that it is hard to change accountants. it’s actually not.

more on strategy: people still needed, but in different ways | don’t let technology make you dumber | are your goals big enough? | finding new opportunity in compliance services | how offshoring is shaking up accounting | the profession disrupted: compliance commoditized
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

partners will argue that clients remain with the firm because of the great relationship they have with their clients. i beg to differ. how can you have a great relationship with someone when you see them once or twice per year?
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time is running out for succession planning

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digital visualization of a blue alarm clockbonus: 22-point m&a due diligence kit.

by domenick j. esposito
8 steps to great

much has been written and discussed regarding succession planning at cpa firms driven by the vast number of founders, leaders, and rainmakers who are retiring at a record pace.

more on strategic planning: expand your national and global geographic reach | using a high-performance business framework | what a client service plan can add | 36 consulting services you might be overlooking | how to drive consistent partner behavior | cpa firm partner performance: different activities, different metrics | develop the partners you already have | how many partners do you need?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

key takeaways in this post:

  • mid-market sustainable brands generally combine practices as opposed to acquiring or buying practices.
  • spend time to make sure it feels right.
  • the easier part is getting the contract signed; the harder part is the integration of the two practices and to make sure 1 + 1 at least = 3.

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expand your national and global geographic reach

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colorful world mapthe cities and networks you need to be in.

by domenick j. esposito
8 steps to great

the business world was never simple, but it has never been as complex and dynamic as it is today.

more on strategic planning: using a high-performance business framework | the benefits of a client situation review | capital markets 101 | how to implement industry practice groups | what is ‘acceptable’ performance? | 6 measures of partner performance | is hr ready for your partner pipeline? | is your pyramid upside down? | taking a balanced scorecard to your partners | learning to ‘run with the big dogs’
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

for decades, two key factors – technology and globalization – have driven profound change throughout the business world including the mid-market. and both will continue to do so – at an ever-increasing pace.
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rewards go far beyond money

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four businesspeople smiling and applaudingwhat kind of experience do you provide?

by rob nixon

i have a view that for a fair day’s work a fair day’s salary should be given.

more on strategy: 8 ways to build team engagement | why a virtual team makes sense | 14 ways to leverage client data for new billings | what it means to be a real-time accountant | 12 predictions on the future of accounting | will the internet replace cpas?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i do not believe you should overpay people (base salary) just to keep them or get them in the first place. if you create a great culture where people are challenged, they are learning a lot and they are having fun, then they will stay with you regardless (within reason) of the base salary.
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using a high-performance business framework

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businessman holding word "success" and upward arrow in handsbonus: sample client feedback letter.

by domenick j. esposito
8 steps to great

the high-performance framework is a description of how middle-market companies can identify the components of high performance, assess their present position relative to high-performance benchmarks, and then create a plan of action to close any performance gaps.

more on strategic planning: the benefits of a client situation review | show clients how to improve working capital | do you belong in cybersecurity? | why you need marquee clients | net profits: how much to whom? | 3 tools to boost your metrics | seizing the $10 trillion opportunity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the framework is essentially a set of models and common language that help communicate with a client. it provides the basis for developing an action to assist a client in a systematic and thoughtful way.
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8 ways to build team engagement

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underview of 6 businesspeople in a circle with hands in center in teamwork gesturechange management requires everyone to get on board.

by rob nixon

it’s hard to grow and develop an accounting firm on your own. you need the support of your team.

more on strategy: why a virtual team makes sense | people still needed, but in different ways | don’t let technology make you dumber | are your goals big enough? | finding new opportunity in compliance services | how offshoring is shaking up accounting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you may want to implement a lot of new ideas; however, your team may have other ideas. unless you have a super-flexible team who is used to change then the reality is you may struggle with team engagement or buy-in. you may struggle to get the change you’re looking for.
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