Thinking ahead to 2018

Christmas is coming!

The vast majority of accountants we speak to still have a big spike of work in January. Every year they say next year will be better, they will improve processes, change the software or perhaps even change the type of clients they look after. Every February they are usually reeling from the overtime bill, too tired and too focused on getting back to normal to consider making those changes.

Now is the time to consider your options, look at the processes and have the software companies in to see how they can help. If you do the research now you can plan for a rollout post-January, perhaps even make that commitment now. The only work remaining will be implementation, which the supplier you have chosen will be helping with.

Perhaps a new market for 2018?

CIS, payroll and umbrellas are all proving to be huge growth areas in 2017 – spreading your wings into a new sector and catering for a new type of client will help you with new revenue streams, more clients, and potentially a more stable client base. Some of our competitor products with only a PSC offering are reporting up to 30% loss in revenue this year following the IR35 changes, some of the accountants only offering a service to PSC are suffering losses bigger than that!

We at JustAccounts have insulated ourselves from this risk by having more than one product set and some of the most successful accountancy providers are the same – spreading the risk and not having all the eggs in one basket means you are able to react faster to change.

Those accountants who react last to this opportunity will undoubtedly end up with the bottom of the barrel. In challenging times we all need the quality clients.

With Christmas approaching fast, you have this magic 4-5 weeks before people get fully into Christmas mode – make the most of it so you go into Christmas and the January madness knowing next year will be better! It’s good for you and your business.

 

Written by FCSA Business Partner, Just Accounts.