Why You Can't Afford to Ignore Consulting

Source: Accounting Today

For midsized accounting firms today, management consulting presents an unprecedented opportunity. Many middle-market businesses lack the skills they need to grow, operate more efficiently, control costs, and otherwise improve their performance. Typically, these businesses can't afford the “big name” consultants that serve Fortune 1000 clients, but they may be wary of smaller, lesser-known firms.

As the most trusted advisors, accountants are in an ideal position to fill this need. Consulting provides accounting firms with several significant benefits. In addition to enhancing profitability, it provides a way for a firm to differentiate itself from the competition, to better utilize staff during the off-season, and to recruit and retain employees. There are many ways to obtain the skills you need to offer consulting services, including training existing staff, hiring qualified consultants, acquiring or merging with a consulting firm, or forming an alliance with a consulting firm.

For the complete article, read “Midsized firms need to be in consulting.”

From Accounting Today, March 1, 2012, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809.