ADP and Insightful Accountant recently completed a survey of accounting professionals to better understand behavior and future thoughts regarding their business, payroll and where their firms are headed with new service offerings.
Key findings in the survey are below, but you can check out the Podcast here.
- Payroll, 1099s, and advisory services are the services accountants are most likely to have a role in. Tax Credits and talent are the least
- Half of accountants intend to increase the number of payrolls their firm refers out; half intend to increase the number they process.
- Areas of talent (management and employee handbook) are areas accountants are most interested in getting involved in that they are not already.
- Payroll and advisory services are the services accountants would most like to see grow in the next 2 years.
In order to grow their practices, firm owners and managers need to:
Leverage a different kind of conversation to stand out to clients
Attract new clients by offering services others do not
Retain more clients by helping stabilize costs and secure them from risk
Deepen relationships by providing partnership that extends beyond payroll.
ADP, through their Accountant Connect Platform, offers tools, resources and guidance accounting professionals can use to grow their practices in the key areas identified in the survey. You can create a free account to get started with the tools by visiting adp.com/accountantconnect. Once registered, you'll have a bevy of resources at your fingertips.
Gary DeHart and Heather Sperduto walk through the survey and results in an episode of the Accounting Insiders podcast hosted by DeHart. You can find the discussion, with video, in the Podcast section of our YouTube Channel.