Episode 50. In today’s interview, “Reporting Tools for Accountants with Fathom’s Darren Glanville.”
Darren Glanville is no stranger to the accounting profession and has more than twenty years experience helping accounting practices develop digital strategies and processes to drive efficiencies and profitability. Having worked for some of the biggest software providers including Sage, CCH, and Xero, Darren now heads up the EMEA region for Fathom and is passionate about accounting firms leveraging technology to drive better business outcomes.
Key takeaways from this episode include:
》why there are so many opportunities for accounting firms to serve small businesses right now
》how the ‘realm of the big boys’ is coming to an end for the fintech software industry that serves accountants
》how Xero paved the way for many other fintech start ups in the accounting sector to turn a good idea into a viable business
》why accounting fintech is such as exciting and disruptive place to be working right now
》the Fathom story from 2010 and why it’s a lot more than a reporting tool for accountants and business owners
》the need for accountants to ‘demystify the numbers’ for their clients in a meaningful, visual way
》shout out to the ‘prophetic’ ICAEW publication ‘The Profitable and Sustainable Practice’ which can be downloaded here: http://www.accountingnet.ie/downloads/profitablepractice.pdf
》how reporting tools are the missing piece for accountants and CPAs who want to transition into advisory services
》why a visual approach to reporting tools helps accountants add value to their clients in helping them consume relevant data
》where many accounting firms go wrong in trying to sell data to their clients and not wisdom
》what factors dictate how good accountants are at advising clients, like the stage they are on their digital journey
》the one vital component that drives advisory services in any accountancy practice
》great questions accountants and CPAs can easily ask their clients to generate advisory opportunities
》the value of business development skills for accounting professionals to create more revenue opportunities
》asking whether reporting tools for accountants really drive the advisory conversation
》why data itself is meaningless for accountants without insights, knowledge and action that clients truly need
》questions an accountant or accounting firm should ask when deciding on a reporting tool or forecasting platform
》the power of micro-forecasts on key events/scenarios to compliment the reporting that accountants can offer their clients
》how reporting and forecasting tools help accounting firm clients manage risk and assess the impact of various decisions
》the impact of a VUCA world (volatility, uncertainty, complexity, ambiguity) on reporting and advising for accountants
》what accounting firms get wrong when it comes to reporting, analysis and forecasting for clients
》the trend of accounting firms appointing CMOs and professional marketers to target the right kind of clients
》how wrong or flawed assumptions kill so many deals and opportunities for accountants to help their clients
》what is coming up in the reporting and forecasting space for accountants and CPAs in coming years
》the one thing fintechs and software vendors need to fight for as businesses and accounting firms grow, scale and age
》advice to accountants who want to level up and add better value to their clients with advisory and reporting services
Outside work, Darren is a keen rugby fan (Newcastle Falcons), a self-confessed coffeeholic and tech geek. You can often find Darren walking his dogs on the beach near his home in Northumberland in the early morning and most weekends. Contact him here:
NOTE TO LISTENERS:
The Accounting Influencers Podcast is a CPE-accredited daily radio-style show with four segments coming out every Monday which are repeated on the other 4 weekdays as standalone episodes, plus a bonus ‘from the client’s perspective’ episode on Saturdays. On Sundays, listeners get a short min trailer for the coming week’s episodes.
Every Tuesday the show gives you a relevant news topic from the accounting and fintech world with a direct application to accountants, CPAs and bookkeepers. Great to stay informed and build your commercial acumen.
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