Meanwhile, a separate study on the small and midsized enterprise market found that SMEs are often more nimble and able to act on insight quicker than their larger peers. Judging by the numbers, data is often a tremendously underutilized tool, and for those accounting professionals looking to provide clients higher-value services, there are significant revenue-generating opportunities to explore. With clients’ financial data and access to innovative technology at their fingertips, accounting professionals are ideally positioned to fulfill this need and help clients make smarter business decisions. Today’s clients are increasingly looking for proactive advice. “They sit at this perfect apex where they can be the translator, essentially, of that information and provide so much value to their clients.” “Firms that haven’t moved in that direction are kind of missing the boat on the fact that they are sitting on the most powerful piece of information that their clients need help with, which is this wealth of business data,” said Madeline Reeves, director of market development for Fathom, a provider of management reporting and financial analysis tools. Is your firm an advisory hero? With the right forecasting and data analysis tools, it could be.
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