{"id":10428,"date":"2017-12-06T13:20:16","date_gmt":"2017-12-06T02:20:16","guid":{"rendered":"https:\/\/smithink.stackedsite.com\/?p=10428"},"modified":"2019-05-31T13:58:16","modified_gmt":"2019-05-31T03:58:16","slug":"the-future-of-business-advisory-tools","status":"publish","type":"post","link":"https:\/\/smithink.com\/2017\/12\/06\/the-future-of-business-advisory-tools\/","title":{"rendered":"The Future of Business Advisory Tools"},"content":{"rendered":"<p>The world has moved on from PC based advisory tools and solutions. The time has come for change!<\/p>\n<p>Many of the PC loaded business advisory tools in the accountant\u2019s space have now been overtaken by more sophisticated and visually attractive cloud solutions such as Cash Flow Story, FUTRLI, Fathom, Panalitix and Spotlight Reporting just to name a few. There has literally been an explosion in new and innovative cloud-based advisory applications and I expect&nbsp;many&nbsp;more in the next 12 months.<\/p>\n<p>The real question here is &#8211; how do you position for business advisory practice in 2018. That is;<\/p>\n<div>\n<ul>\n<li>Do I have the right structure in my practice?<\/li>\n<li>What infrastructure changes do I need to make to succeed?<\/li>\n<li>How do I engage clients and my team?<\/li>\n<li>How do I create capacity and still manage everything else that is going on?<\/li>\n<li>How do I sell and market my advisory services?<\/li>\n<li>What training do I need to provide both technical and soft skills to my team?<\/li>\n<\/ul>\n<\/div>\n<p>All these questions relate back to the process that needs to be followed &#8211; the critical key steps to success.<\/p>\n<p>To be honest, reflecting back on the past fifteen years, it was never about software. It is the process that dictates success in implementing business advisory services in an accounting firm, not the software. The software is just a nice way of presenting financial information in visual sense \u2013 in essence turning numbers into knowledge.<\/p>\n<p>With all the training I have provided accounting firms it was always about how to implement the software into a key service offering. How to conduct an ideal client consolation meeting. How not to kill the client with kindness. How to explain formulas in a manner that the client can actually understand. How to measure lending covenants to bank requirements. All these points and&nbsp;many&nbsp;more are requirements for successful business operation not how to drive software.<\/p>\n<p>Firms that have had success in implementing business advisory services have started with developing a sustainable and realistic business advisory implementation plan. Working out where they are today, where they want to be tomorrow and how to get there. They build in key milestones and measure for success and when this happens they celebrate.<\/p>\n<p>So where is your firm now? Have you taken the first step forward to preparing your implementation plan? Are you looking for guidance, systems and processes, templates and ideas? The first step is attending the Smithink Business Advisory Conference on February 15 and 16, 2018 at the Sofitel Broadbeach Gold Coast.&nbsp;<a href=\"http:\/\/bac.smithink.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Click here for more information.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world has moved on from PC based advisory tools and solutions. The time has come for change! Many of the PC loaded business advisory tools in the accountant\u2019s space have now been overtaken by more sophisticated and visually attractive cloud solutions such as Cash Flow Story, FUTRLI, Fathom, Panalitix and Spotlight Reporting just to&hellip;<\/p>\n","protected":false},"author":854,"featured_media":10429,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Future of Business Advisory Tools - Smithink<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/smithink.com\/2017\/12\/06\/the-future-of-business-advisory-tools\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Future of Business Advisory Tools - Smithink\" \/>\n<meta property=\"og:description\" content=\"The world has moved on from PC based advisory tools and solutions. The time has come for change! 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