new energy comes from new ways of doing business

one idea: a client service coordinator.

by tamera loerzel
the rosenberg map survey

editor’s note: every year, the rosenberg map survey asks the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? also, how would you assess the last 12 months?

while everyone is cautiously watching the economy, client needs and demand for accounting and advisory services continues to increase. firms have to figure out how to run their practices differently to be available to do more with clients, help them solve problems, and make the shifts they need to make, too.

more: outsourcing, remote work will help firms grow capacity, revenue | ‘great shakeup’ in cpa firms on the way | pe, consolidations to keep impacting accounting profession | soft skills are front and center | it’s time for a new business model
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while 2023 busy seasons may have been “better,” a lingering fatigue continues. firm leaders who are focused on new ways of doing business, staffing and serving clients will find relief and the ability to focus on important initiatives in their firms. and empower young partners and managers to try new things and lead change initiatives. they can see what’s possible and will make it happen.

older partners need to let go – let go of old norms, measures, business models, processes, behaviors, clients and more. leaders who foster innovation and new ways of being will set up their firms to thrive!

many firms that have started to solve the capacity challenge with more dynamic staffing solutions, such as outsourcing, offshoring, fully remote, part-time and more are seeing relief. in addition, embracing non-cpa team members and pulling out all tasks, client communications and coordination, client setup and more into a client service coordinator role that does not require an accounting degree has allowed partners, managers and even staff to elevate and work at their highest and best use. leverage is required to make money in a professional services firm, so continuing to rethink and reinvent the accounting firm business model is key.

technology has also been a hot topic with firms automating and digitizing everywhere possible. this includes making hard decisions when clients (or partners or admin) won’t come along. and of course, ai and chat gpt are hot topics, and a strategy should be developed to embrace these technologies, determine where and how to use them, and communicate guidelines and policies to protect client data, intellectual property and thought leadership. the ai and chatgpt landscape is changing fast, and firm leaders have to figure out how to embrace it, because your nextgen are using it and it is part of the solution to capacity challenges and business model shifts that need to be made.

posted on december 3, 2023