Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/382390
8 September 2014 • www.CPAPracticeAdvisor.com A YEAR IN THE LIFE: PAYROLL ACCOUNTANT W hen rev iew i ng you r present s e r v ic e s , c on s ide r you r c u r re nt posit ion as a compa ny as wel l as your goals for grow th. A n accurate assessment w ill consider how well you are meeting the needs of your ex isting clients. A re there features t h at you r solut ion i s m i s si ng or areas of pay rol l ser v ice that your f i r m c u r rent ly does not prov ide? Consider the reasons for not pro- v iding these ser v ices or features. Is it strategic or due to inefciencies w it h i n t he s y stem a nd/or st r uc- t u r e ? R e v i e w f e e d b a c k y o u 'v e r e c e i v e d f r o m y o u r c u s t o me r s . Look for ways that you can improve upon what they are already happy w it h . A t t he sa me t i me, ident i f y solut ions t hat solve t hei r big gest pain points or pay roll issues. D u r i ng t h i s f a l l e x a m i n at ion, pay rol l prac t it ioners shou ld a lso consider ex pansion of their plans. S o m e f i r m s m a y c o n t e m p l a t e ex pa nd i ng coverage to cl ients i n other industries, while others may decide to hone their focus in on a particular niche market. W hether your f rm is ex panding ser v ice or specia l izing in a speci f ic ma rket, t he key is to ident i f y you r ta rget audience. Not only w ill this deter- mine to whom you market during the end of the year, it w ill also help you avoid any misguided marketing atempts. Take a close look at your client lineup. Is ever y client a perfect ft for your frm's mission and strategic grow th plan? During the examina- tion, you may f nd that not ever y client is a per fect match. Perhaps t hey don't ft t he ta rget aud ience you are tr y ing to reach, or maybe your solutions and ser v ices aren't the best ft for their business. W hile you are examining your ow n ser- v ices and solutions, it's important to take a close look at your current and prospective clients. Ta ke the time to look at their current pay roll solutions, the present state of their business and their strategic plans for the f uture. A re you both on the same path? I t 's i m p e r a t i v e t h a t p a y r o l l pr ac t it ioner s s top to ree x a m i ne t hei r overa l l st rateg ic pla n f rom time to time. September is a great time to reassess how your current solutions, daily task s and current clients ft into the bigger picture. R e a s s e s s i n g y o u r s e r v i c e s a n d solutions in the fall gives you plent y o f t i m e t o m a k e t h e n e c e s s a r y changes before the year-end – when m a ny c ompa n ie s a re look i ng to upgrade and/or change their pay- roll solution prov ider. Refresh Your Payroll Offerings in the Fall By Taija Jenkins, Assistant Editor F all is usually a calm, relaxed time of the year – the busy- ness of summer activities is c o m i ng to a h a l t a n d t h e m a d n e s s o f t h e y ea r - e n d hasn't quite started up yet. Tis makes it the perfect time to examine your firm's payroll solutions and services. Companies, including your existing clients and potential clients, are likely to reassess the vendors they currently use as the end of the year approaches, when they start their year-end activities and budget planning for the upcoming year. Payroll practitioners will want to be sure they are ready to market their available solutions and services when this time comes.