Many firms understand the importance of using a value-add approach to improving client service and for developing new business. But an often overlooked area is providing financial analysis to small business clients.

Most small businesses lack resources to support a financial analysis expert, relying on their CPA, accountant or financial advisor to inform them of problems in managing their businesses’ finances.

Although we provide services such as tax, write-up, assurance or payroll services, in most cases our clients assume that we also keep an eye on all finances. This often leads to an expectation gap in client service, which most advisors would like to fill by providing business advisory services. The key to leveraging business advisory services is linking the financial performance of the client’s company to its operations.

Over 700 participated in the Intuit initiative, which was created to help accounting professionals succeed in uncertain economic times. Each winner receives $10,000 in cash and up to $10,000 in Intuit products and services. They include:

Ten years ago if I’d have presented this idea to a group of practicing accountants I’d have been run out of the room: “Let’s take your most sensitive client data, including social security numbers, bank account numbers, financial statements, tax returns, etc. and put them on the Internet.” It simply wasn’t going to happen. But over the past several years technology seems to have assuaged all but the most Luddite-like resisters and I commonly get this question: “We need to get our data backed up safely and securely on the Internet so we know it safe and always available for access or file restoration. Do you have any suggestions?”  Answer: “Well, yes, actually I do.”