How CPA firms can optimize revenues

Clients Say They Want Their CPAs to Provide Them Easier Access to a Wide Range of Financial Services – How to grow CPA Client Loyalty
Your competitors are approaching your clients all the time. A CPAs best defense against client attrition is to be out in front offering multiple services that positively impact your client’s business.

According to a recent client survey, the number one problem area clients have is that, “Small issues tend to grow into major client objections if left unresolved.”

According to the survey, CPA clients want their CPA firm to:
1. Take an active interest in their client’s business.
2. Suggest other ways the CPA can assist the client.

Actions Steps CPA Firms Can Take To Build Client Loyalty:
1. Be Proactive – Especially During Tax Season
Being pro-active is difficult, especially during tax season. However, if ever there is a time to be pro-active with clients it is now. You have a great reason to spend time with your clients because the client’s latest information is right in front of the firm, and your clients will appreciate the service. What’s more, focusing on your clients, their concerns, and potential needs will help you anticipate where they are exposed and pro-actively develop and offer solutions.

2. Build Retention – Offer More Specialized Services
• When a CPA provides 5 services to clients their retention rate is over 90%.
• Retention rates jump to 98% for clients who have been with the CPA firm for 10 or more years.
• When a CPA firm only provides 1 service, the 10-year retention rate is only 12%.

Presenting Additional Services to Clients is High Value Work:
Clients want their CPAs to look at their business and offer new services that will help them save time, money, give them a competitive advantage, or fill a hole in their business. And, if they are not getting a service they need from the CPA firm, they are likely getting it elsewhere.

To bring added value and to sustain client loyalty CPA firms should strategically and intentionally review each client’s needs, potential improvements, and take the time to provide additional services that will make an impact on business.

Questions CPAs Should Ask:
• How can I bring more value to the client?
• How can I better understand my client’s business?
• How can I increase client loyalty by presenting additional financial services?

Teaming Up for the Bottom Line:
SourceCorp offers additional and complementary specialty tax services that fulfill client needs while saving time, effort and costs.

Clients Want More Financial Services:
CPA clients say they want their CPAs to provide them easier access to a wide range of financial services. Celebrating our 25th year in business, SourceCorp Professional Services is the only specialized service provider in the country offering LIFO Accounting, R&D Tax Credit Studies, Cost Segregation Studies, and Green Building Tax Deductions. With offices throughout the country, we are able to bring more value to your clients.

Benefits of a SourceCorp Alliance Relationship:
• Consistently have created added value for the CPA firm – we work with and through our CPA partners providing LIFO Accounting, R&D Tax Credit Studies, Cost Segregation Studies, and 179D Energy Efficient Building Studies.
• Increases your firm’s scope, giving you a larger, stronger market and exposing clients to beneficial services and new ideas.
• Extends your firm’s reach into new geographical areas.
• Added marketing value through leveraged relationships.
• Cooperative synergy on large ventures.
• Free staff and partner training.
• Receive qualified client responses within 48 hours.
• Free initial client estimates/analysis.
• Intellectual and client information protected.

If your firm desires to increase revenues, improve client service, strengthen a specialty niche, ensure that resources are allocated judiciously, expand its geographic reach, build client loyalty—or all of these, then, a SourceCorp partnership could prove beneficial.

Free Training:
We train and educate your partners and staff about the expanded capabilities the relationship offers. Each training session thoroughly describes our services and procedures to your partners and staff so that you are empowered to offer additional and needed services to your clients.

CPA firms that have teamed up as SourceCorp have a proven track record of building revenue, a stronger market presence and value added services at lower cost than by creating specialized tax service offerings or by entering into high-failure rate acquisitions.

Why SourceCorp?
• Celebrating our 25th year in business, we are trusted, experienced, reliable and financially stable
• We go beyond SOX compliance
• We can help you help your clients – we build lasting relationships
• We become your one-source resource
• We will find the maximized benefit
• Complimentary review
• Complimentary audit assurance and support – we take responsibility
• Fixed fee billing
• We are responsive
• We guarantee our work

About SourceCorp:
Celebrating our 25th year in business, SourceCorp Professional Services is the leading provider of specialized tax services in North America. Headquartered in Fort Worth, Texas, SourceCorp empowers accounting firms by providing LIFO Accounting, R&D Tax Credit Studies, Cost Segregation Studies, and 179D Green Building Energy Efficiency Studies. With a specialized team of more than 50 professionals and with offices located throughout the country, accounting firms realize unparalleled experience, services, and trust. SourceCorp serves many of the nation’s most prominent CPA firms, Associations, and Fortune 1000 companies. For more information contact SourceCorp Professional Services.