As accountancy firms grapple with the value of bringing bookkeeping work in-house, Lisa D’Adderio of Alto Accounting and Advisory, explains why she prefers to outsource for better client service.
The bookkeeping industry is booming for a reason, with a new report from the Australian Bookkeepers Network (ABN) revealing that 41% of bookkeepers are in a growth phase of their business.
This news comes at a time where accounting practices are looking to share a slice of that pie, grappling with the decision to bring bookkeeping services in-house.
To Lisa D’Adderio, Accountant for Alto Accounting and Advisory, a mid-tier accounting practice in Bundall, QLD, the idea offers little appeal given the strengths of outsourcing to client service.
Here Lisa offers her explanation of how referring new clients to her exclusive list of bookkeeping experts offers her flexibility to focus on the quality accountancy service for which Alto Accounting and Advisory are best known.
Flexibility to meet the different needs of different clients
Alto Accounting and Advisory value our network of specialists that we outsource to including bookkeepers, financial planners, and lawyers.
These referral partners provide service that are outside our scope of speciality, so by using their expertise in those areas, we can focus on what we are good at and offer a better value-added service to our clients with this approach.
This referral approach has added a helpful team dynamic to our firm. We refer based on the individual needs of each client. Clients can then access those specialists with experience in their industry and chosen software, but also someone who is also a good fit for their personality.
This ensures they are receiving quality bookkeeping advice, allowing the Alto team to focus more on growing their business and achieving their goals.
Flexibility to mix and match on industry specialty and technical expertise
Alto Accounting and Advisory has a team of seven business Accountants plus a Superannuation Specialist. Together we have a panel of experienced bookkeepers with whom we collaborate.
Every time we’re on the lookout for a bookkeeper we’ll go to that list and lean on each other for advice on what we know each bookkeeper is good at and if they’re the right fit for our new clients.
“We try to make the best decision based on our client’s needs and personality fit.”
If, for example, I have a doctor, I’ll try to find a bookkeeper with medical experience. If I have a restaurateur, I’ll look for a bookkeeper who is excellent at payroll management. Software preferences can also help to guide our referred bookkeeper.
It’s a two-way street for clients and bookkeepers to build their own relationship
The client always appreciates us giving them options. I’ll regularly refer to them two bookkeepers to interview.
Alto Accounting and Advisory are invested in referring bookkeepers that deliver the excellence our clients deserve. The client, however, will get the most from the partnership if they know they have the ultimate power to direct and decide on how to use that bookkeeper.
That also gives our bookkeeping partners flexibility to grow their business based on the client relationship they forge.
Flexibility to do what we do best
We see value in outsourcing so we can focus on things we’re good at. This includes tax minimisation, restructuring, business planning, looking at strategic ways to exit a business and help with forward planning.
Rather than bringing in-house, we’ve had the time to do what we do best. Then the bookkeeper can focus on ATO compliance, BAS, attending to office improvements and find affordable options to guide the business on day-to-day duties.
If you want to assure your bookkeeping business future with the most supportive industry experts to guide your next steps, contact First Class Accounts today.
