Specialist Advisory Services

Accountancy and bookkeeping, like many other professions, are not immune to the march of technology. Smart programmes, apps and the use of Artificial Intelligence are streamlining the way we offer support to our clients.

While this use of tech may be seen as a threat, and understandably many of you may be anxious about the impact on your practices, it offers so many advantages that it simply cannot be overlooked.

Gone are the days of poring over spreadsheets or manually inputting receipts and invoices. The likes of Xero and Dext have replaced these time-consuming activities, while a number of companies now offer clever dashboards which allow you to monitor a range of financial indicators. Similarly, AI will be able to spot trends, improve accuracy in reporting and even identify potential fraud.

With this in mind, what does it realistically mean for you as members? Essentially this technology has the potential to free you up to concentrate on new services for your clients. You may decide to start offering strategic financial planning or forecasting – both incredibly useful for SME owners who struggle to plan ahead or are not on top of their pricing or overall finances.

You could even look at dipping your toe into business advisory services. Finance professionals possess an array of skills in data analysis, forward planning and client support that can easily be incorporated into a more holistic package aimed at small business owners who feel overwhelmed by the complexity of running an enterprise in today’s increasingly complicated world.

So how can the IAB help you to transition your business into these new areas?

First off, we have our Member Benefit Fathom which can provide you with the capability and set-up to offer a much more strategic advisory service to your clients. This product offers financial analysis, management reporting and cashflow forecasting in one simple-to-use dashboard. Fathom also has a well-established sub brand called Advisable which was all about upskilling subscribers. This includes lot of educational content around key pillars including technology, marketing and process.

For those interested in learning more about business data interpreting, we have a new course focusing on analytics, run by our Director David Taylor. This looks at matching the online and financial performance of companies, getting the most out of Google Analytics, understanding social media and email client insights as well as tracking the full client acquisition journey from initial lead through to transaction.

And later on this year we will be launching our new level 4 – 7 modules which have been divided into two core routes, Business Management and Business Finance with vertical pathways that encompass topics such as marketing and logistics. These higher-level qualifications will provide you with the skills and knowhow to move into a more comprehensive business advisory space.

The world of business is not going to stop evolving and we at the IAB are committed to ensuring that we provide you with everything you may need to thrive in this new, uncertain environment. So watch this space for new member benefits as well as training courses and qualifications.