Client Accounting & Advisory Services (CAAS), the Qvinci Way (Part 1)

Reporting is a great way to convert your 'compliance' focused accounting practice into a 'Client Accounting & Advisory Services' practice, and Qvinci is the perfect tool for the change.

One reason you have for changing from a compliance-focused accounting practice to a Client Accounting  & Advisory Services practice is that you recognize that "your time and services are undervalued." You been charging your clients for your time based on a set of practices that are eons old. Check the bookkeeping,reconcile the month-end, verify the classifications, prepare the financial statements, send the transmittal letter. Repeat next month, and the month after, etc. 

But the reality is that your clients are looking for more than your time and your compliance documentation. In fact they may simply "file those latest financial statements with all the others" without ever even looking at them. And next year, they may very well be looking for a different Accountant who isn't afraid of offering their 'expertise' and communicating what the client truly needs to hear.

Most accounting clients are looking for a distinct experience with personalized services that clearly communicate any changes in their financial situation that will impact their businesses well into the future. And, while you could easily offer some enhanced reporting using data extraction from QuickBooks, and a little manipulation in Excel, and then streamlining in a report generator, that takes time and you just aren't certain it is worth the extra cost. You just don't know what return you will get on your investment in offering 'advisory' on top of your 'accounting.'

But there is an answer to "upping your game." Qvinci is Financial Reporting, Analytics and Business Intelligence software that works with QuickBooks®, Xero® and Excel® to provide you with insightful reporting and game-changing analysis for your clients. It turns "compliance" into "advisory" in seconds. Qvinci not only allows you to "up your game" with respect to the financial statements you've been providing but incorporate value-added actionable insights for your clients. And, as I said, it literally takes "only seconds" to generate what each of your clients need. 

In reality, "Qvinci 'is' Client Accounting and Advisory." _(Murph)

Qvinci automates your client reporting. You won't waste time making manual changes to your client's financial statements, because Qvinci is automating data collection (along with consolidation and mapping where required) in seconds from any of the supported software, regardless of where that data is hosted. QuickBooks Desktop on your computer or server, no problem. QuickBooks Online, not an issue. With the click of a button Qvinci prepares a set of financial you have selected from fully customizable templates for each of your clients.

Beyond that, Qvinci simultaneously prepares impactful KPIs and business intelligence for the 10 key business metrics that are most applicable to each client, it then color-codes the trending of that data into "green is good, red is bad". You select the depth of analysis to prepare for your highly-profitable "advisory consultation" with your client. 

Even if you pay $30 per month (per client) for Qvinci*, and it only takes you 1-minute to generate your client's packet of reporting with Qvinci, just think of the 'return on the dollar' if you charge $250, $350, or even $500 for your 'advisory consultation?' Not to mention your saving by no longer paying an associate $30 per hour for two or three hours to prepare reports "the old fashioned way." And that's just a rough example of how 'profitable' Qvinci can be. 

Cashflow and financial forecasting help you provide the client with "where their business" is going, next month, next quarter, next year and beyond. Benchmarking and trending analysis allow  you to discuss how your client's business is performing compared to an ecosystem of their peers. 

Suddenly, you've gone from your status being "there's the accountant with another set of financials for the file cabinet" to "there is my trusted financial advisor" with numbers that mean something, and that actually tell me what I need to know. And with that change your value, your worth, has increased tremendously. Furthermore your 'time has increased', you have more of it because Qvinci is doing "in seconds" the work that you or an associate spent two or three hours doing every single month for every single client. 

That means you have more time for higher-valued 'advisory services' whether you bill on an 'hourly-rate' basis, a 'fixed-fee' basis, or a 'value-added' basis. The remainder of this series will look at other examples of how you can price the value of your new service offerings and recognize 'return on investment' when using Qvinci.

And on November 12 and 1:00 PM Eastern, I hope you will attend Insightful Accountant's Future Forward in which Charles Nagel, and Brad Adams of Qvinci will join me to discuss how you can use Qvinci to drive value, profits and growth of your Client Accounting and Advisory Services firm. 

You can REGISTER HERE for that CPE eligible webinar. 

Note: In the above feature, the example of * $30.00 per month per client is an approximate estimated average price, your actual price for Qvinci may vary based on your number of clients, your number of users, and allowed discounts or other pricing considerations.