{"id":123121,"date":"2024-03-06t18:30:30","date_gmt":"2024-03-06t23:30:30","guid":{"rendered":"\/\/www.g005e.com\/?p=123121"},"modified":"2024-08-29t23:53:43","modified_gmt":"2024-08-30t03:53:43","slug":"revenue-growth-is-top-priority-for-small-firms","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/03\/06\/revenue-growth-is-top-priority-for-small-firms\/","title":{"rendered":"revenue growth is top priority for small firms"},"content":{"rendered":"

\"bar<\/strong><\/p>\n

cost reduction? that\u2019s on the list, too.<\/strong><\/p>\n

by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n

as in years past, cpa firms of all sizes are putting revenue growth at the top of their priority lists.<\/p>\n

the rest of their priority lists tells how they plan to get there.<\/p>\n

more: <\/b>survey shows challenges, priorities shifting<\/a> | survey shows that tech remains the great divide<\/a> | will unclogging the accounting pro pipeline kill mobility?<\/a> | accountants bullish on income<\/a> | survey: which niche\u2019s the best niche?<\/a> | ethics on sustainability puzzle some accountants<\/a> | accountants hopeful, concerned and confused about ai<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

according to the wolters kluwer 2024 accounting industry report, 61 percent of responding firms \u2013 90 percent of which are small firms \u2013 are primarily aiming at higher revenues and profits. that\u2019s 11 percentage points above secondary goals.
\n
\nbut that\u2019s an average between firms that self-identify as innovators or early adopters of new technology and those that admit to being mainstream and late adopters.<\/p>\n

tech driving strategy<\/strong><\/p>\n

while 66 percent of the innovators name revenue and profit as their most important goal, only 60 percent of the more conservative firms put those financial concerns at the top. this differential correlates to a finding that a firm\u2019s technological strength influences its strategic objectives.<\/p>\n

but how do firms plan to accomplish that higher income? with goal #2: improve client service and engagement.<\/p>\n

that second-place priority has held steady at about 50 percent average for all firms across the last three years. (again, the relatively large number of small firms in the survey weighs heavily in that average.)<\/p>\n

midsize firms are seeing a significant 20 percent point bump that puts service into a third-place ranking, while small firms raised it by 15 points to second place.<\/p>\n

\"ringnew services, top staff<\/strong><\/p>\n

back in the covid-19 days, improving client service meant adapting to remote work and communication. now it more often means offering new services that turn compliance clients into more robust advisory relationships.<\/p>\n

looking at only the relatively few midsize and large firms that participated in the survey, the secondary goal is to attract and retain top staff. one interpretation of that goal is that these large and large-ish firms have their technologies under control and new services already in the works. now they need the people who can put it all to good use.<\/p>\n

the third goal of smaller firms is to reduce costs. cost reduction didn\u2019t reach the top five goals at the larger firms, where improving employee effectiveness was a more significant goal, an echo of the priority of attracting retaining staff.<\/p>\n

financial squeeze<\/strong><\/p>\n

the small-firm goal of reducing costs reveals the widespread financial squeeze they\u2019re going through. while revenue growth is their most important goal, pricing and competition is their most difficult challenge, reported by 40 percent. meanwhile, inflation, though easing, is still having a residual impact, especially in the cost of labor. at the same time, technology isn\u2019t getting any cheaper, and attracting and retaining staff certainly won\u2019t reduce costs.<\/p>\n

the report aims specific advice at small firms, saying, \u201clooking at the top three goals in the coming year for small firms \u2013 growing revenue and profit, improving client service\/engagement, and reducing costs \u2013 it may be time for them to assess their client base and right-size service offerings.\u201d<\/p>\n

as for the tech factor, small firms may not need to buy more of it because they aren\u2019t maximizing the use of what they have. a quarter of them say they\u2019re utilizing less than 25 percent of their tech capacity, and half are utilizing less than 50 percent. why buy more if you\u2019ve still got potential to unleash?<\/p>\n","protected":false},"excerpt":{"rendered":"

cost reduction? that\u2019s on the list, too.<\/strong>
\n\"\"<\/a>
\nby 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n","protected":false},"author":17,"featured_media":123239,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2779,5,3120,3002],"tags":[],"class_list":["post-123121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charts-graphs","category-outlook","category-pro-member-exclusive","category-special"],"acf":[],"yoast_head":"\nrevenue growth is top priority for small firms - 卡塔尔世界杯常规比赛时间<\/title>\n<meta name=\"description\" content=\"actionable intelligence for tax, accounting, and financial professionals\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"\/\/www.g005e.com\/2024\/03\/06\/revenue-growth-is-top-priority-for-small-firms\/\" \/>\n<meta property=\"og:locale\" content=\"en_us\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"revenue growth is top priority for small firms - 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