How to Add A New Revenue Stream to Your Accounting Firm with Float
One of the most common reasons that business owners switch accounting firms is to seek more proactive financial advice. Float is an app that enables you to provide that proactive advice. But how exactly does it help you add a new revenue stream to your accounting firm?
Business owners want to do more business
Xero found that 88% of business owners that use Xero as their accounting software reach their fifth birthday, compared to only 41% of non-users. Furthermore, businesses using Xero apps grew to profitability 30% faster than those who didn’t.
Obviously, with over 700 apps on the Xero marketplace, this is a stat that the beautiful accounting software has taken to heart.
After all, nobody gets into business to do their finances. So providing your clients with a means of getting their head out of their books and back into their business is an excellent way of giving them extra value.
So, how does Float provide you with more value?
Float allows business owners to stay out of spreadsheets, and focus on what’s important to them. Saving users up to eight hours a month, Float provides your clients with the confidence they need in order to know where they are now, next week, next month, and next year.
But apps alone do not advisory services make. Instead, having conversations with your clients and understanding their concerns is far more likely to make you invaluable to them.
Float is a platform that allows these advisory conversations to be had. In making forecasting simpler, and more understandable for your clients, it bridges the gap between the need of the business owner and your knowledge as the accountant.
So how does Float add a new revenue stream to your firm?
Most accounting firms are moving to a value-based pricing model, which means that services are charged based on the value they provide, rather than the time taken to provide them.
Delivering a service that encourages more engagement in your clients’ numbers will drive more interest in your other services. With clients that are more engaged, you’ll be able to upsell additional services and provide chargeable and actionable advice.
Float is a platform that gives business owners confidence in their numbers and more control over their finances. In doing so, Float increases the value of your services and opens up the chance for additional, saleable advisory services, and a new revenue stream to your firm.
With a scenario planning tool, that creates visual roadmaps of your clients’ potential future, Float provides invaluable business intelligence and planning insights to your clients.
Float’s value is measured by the way your clients use it, and how you use it with them. So it’s up to you to decide how you charge your clients for the app, and the conversations that come off of the back of it. In fact, there are various ways to price Float and add a new revenue stream to your accounting firm. You can read more about them here.
Sign up for your free licence today and find out what Float can do for your firm, your clients, and your revenue!