{"id":72826,"date":"2020-04-01t12:30:17","date_gmt":"2020-04-01t16:30:17","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=72826"},"modified":"2020-06-12t13:38:52","modified_gmt":"2020-06-12t17:38:52","slug":"help-clients-by-pivoting-to-projections","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/04\/01\/help-clients-by-pivoting-to-projections\/","title":{"rendered":"help clients by pivoting to projections"},"content":{"rendered":"

\"\/\/www.g005e.com\/2020\/04\/01\/help-clients-by-pivoting-to-projections\/\"<\/a>today’s crisis needs analysts more than historians.<\/strong>
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by gale crosley<\/i><\/p>\n

major upheavals in economic conditions present an opportunity for significant growth. for firms prepared to embrace this concept, it\u2019s go time for new service innovations that clients and prospects want, need and are willing to pay for.<\/p>\n

see: <\/strong>all 卡塔尔世界杯常规比赛时间 special crisis coverage<\/a><\/p>\n

more:<\/strong> home alone. but not really.<\/a> | dicey disruptions<\/a> | be a consultant or be left behind<\/a> | sustainable innovation: how to pull it off<\/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

with so many of us sequestered at home, it may be some time since you\u2019ve actually been in your car. but you\u2019ve probably not forgotten the difference between the view from your rearview mirror and what you see out the windshield. applying the metaphor to accounting highlights the contrast between where we\u2019ve been and where we need to go as a profession in the current environment.
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look ahead!<\/h3>\n

disappearing from sight as you gaze behind you are the traditional activities that have sustained (and constrained) us, namely tax and audit. ahead lies the opportunity to use financial analysis and predictive data analytics to help businesses reset in an environment of economic upheaval. it\u2019s time for firms and practitioners to turn forward, as we pivot from collecting and responding to historical data, to identifying and solving business problems.<\/p>\n

as clients navigate choppy financial waters, they need financial services to help them manage costs, inventory, accounts receivable and funding. never done it, you say? not trained as a consultant? not to worry. you\u2019ve got the skills you need. your people just need practice. the key is to modify your services, which represents one of the three elements of strategic growth \u2013 the other two being buyer groups and distribution channels. changing up one or more of these elements enables you to shift strategy and drive growth.<\/p>\n

i\u2019ve turned numerous auditors and tax people into analysts by encouraging them to perform financial analysis\/data analytics on their own practice group or service line. it\u2019s the same skill set that will help you uncover your clients\u2019 business problems and respond with uniquely effective solutions.<\/p>\n

it\u2019s all in the numbers<\/h3>\n

\u201cin a time of uncertainty, the numbers will tell the real story,\u201d said carrie beam, a ph.d. who specializes in data science, predictive analytics and decision support. she helps cpa firms help their clients turn analytic results into tools to help businesses with problem-solving and strategic planning.<\/p>\n

beam uses data analytics to uncover a business story or situation. when framed in a way a client can understand, the analysis informs key decisions. an example is a client whose revenue mix has changed in recent weeks. beam would help the client analyze the shift, i.e., determine if the revenue mix is changing at a faster rate than in the past, or if the lower numbers represent a seasonal or cyclical dip. given the findings, she would help the client identify appropriate mitigating actions.<\/p>\n

covid-19-related panic buying and shortages offer an additional example. once the stay-home mandate was announced in northern california where beam lives, grocery stores were quickly stripped of commodities like chicken, hand sanitizer, toilet paper and tylenol. her analysis of each category revealed the following:<\/p>\n