3. Key Discussion Topics
What is Value Added Services?
Providing Value Added Services as a process
Skills needed to provide value added services
Ways to bring Added Value Services
Costs, Benefits and Challenges of Providing Added
Value Services
4. Preamble
• What value do you place on your self as a professional
accountant and your firm?
• Are you devalued?
• Core Services and Value Added Services?
• Are you providing value added or devalued services?
• Added Value and Value Added. Any difference?
Additional Services?
5.
6. Definition -What is it?
Taking your client service to the next level
Solving problems you’re not expected to solve
or beyond the adequate solution
Soft terms – the way it resonates with the
clients’ internal and emotional world
7. Definition -What is it?
• Different for every client depending upon his goals (Differing
needs and priorities). Value perceived by each stakeholder is
different
• Value you bring clients goes far beyond just doing the job
you were contracted to do.
• Behavior or service beyond their expectations (Going
beyond what is realistically expected of you i.e. the norm)
• What is your “service or product” ?
8. Providing Value Added
Services is a process…
• Starting point (Your firm)
“Before thinking about value-added, it is important to
make sure that your current level of service is at least as
good as your competitors. Otherwise, no amount of
value-adding will keep your clients from shopping
around”
9. Providing Value Added
Services is a process…
• Not a one time or one off exercise. Continuous
process of consciously seeking ways of adding value .
Takes a lot of effort. Need to know client inside out.
• Needs to be revamped and adapted to changes in
client’s objectives, concern and business
environment. Proactive
• Providing value is a principle that you need to drive
your business with.
10. Importance of providing
value added services. Why?
• What are you doing differently? Actively look for ways to
bring value to your clients
• Provides you the opportunity to differentiate yourself
from other practicing accountants?
• Creates lasting memories in the minds of clients
• Clients would sing your praise to their colleagues who
eventually are potential clients
11. Importance of providing
value added services. Why?
• Rise up to the challenge. Keep up with the pace.
• Provides the opportunity for you to demonstrate your
other capabilities to your clients.
• Demonstrates your understanding of the clients business
12. needed to provide value
added services
• What skills do you bring to the table.
Thinking global or acting in your
comfort-zone
• Think outside the box or remain
clogged inside
• What will make you a practising
accountant of value?
13. Skills needed to provide
value added services
• Must be a total breed
• Ethical, Integrity, Build relationship with your
clients based on trust
• Software applications that matter to the business of
your client.
• Knack for Business Development
14. Skills needed to provide value
added services
• Street Wise: Ask questions, be witty, generate ideas,
be curious about events around you.
• People skills. Don’t lose out on the social side of life
and become an introvert.
• Thorough understanding of client’s stakeholders,
business, technology and operations as a whole
15.
16.
17. Ways to bring added value to
clients.
• Networking - Do you have clients that might mutually
benefit from meeting each other?
• Share Knowledge (Articles, Publications, Facts/News
Items, Presentation Material), Interesting and
relevant articles
• Take your clients to interesting events that might
benefit them for networking or exposure to other
clients
18. Ways to bring added value to
clients
• Participate in clients events
• Have you noticed any events that you could notify
your client about?
• Or seen any business opportunities in the local
paper? It’s simply looking at opportunities that
might be useful to your client.
• New and interesting ideas based on your
experience.
• Providing cutting edge service to their clients
19. Ways to bring added
value to clients
• Listen and Observe carefully. Client should define the
added value. No two clients are the same.
• Appearance is important. Dress professionally for the
occasion.
• Serviceable – Availability, First point of call, Interesting
and relevant articles
20. Ways to bring added value to
clients
• Create real relationships – get real and personal (TLC);
personal approach
• Don’t just ask questions about clients business but ask
questions about themselves and their lives
• Ask real questions, honestly care about the answer and
create a real connection.
21. Ways to bring added value
to clients
• Good Communication. Pick up the phone. Do not be
unresponsive. By hearing your voice clients will feel more
connected to you.
• If you can show your clients that you are thinking of them,
even when they aren’t directly paying for it, they’ll
probably think of you first when they do need a service.
22.
23. Costs of providing value
added services?
Time
Money
Human Resources
24. Benefits of providing value
added services?
Sets you apart from the competition
Boosts client relationships and client retention
Advocate for your business among other potential clients.
Extensive referrals and growth
Value added resonates the idea that you are providing
quality services. Positive correlation between quality
services and value added services
25. Challenges of providing
value added services?
The position of your firm
Sole/Small Practitioners
Part-time practitioners
Type of clients
26. Value added services
Are you providing value added services
without realizing it?
What examples can you share of how you
provide value added services to clients?