Four things your accountant should be doing
![](https://static.timesnewsgroup.com.au/prod/uploads/sites/3/2024/07/Untitled-design-74.jpg)
Simic Financial if offering free cash flow and profitability assessments to eligible businesses. Photo: SUPPLIED
The role of accountants is rapidly changing, with firms such as Simic Financial leading the way.
Traditional accountants focused solely on tax returns are now seen as an annual cost rather than a value-add for people’s businesses. Modern accountants are strategic partners, taking a holistic approach to help businesses grow and thrive.
Here are four key things modern accountants could be bringing to your business:
Offering regular performance meetings.
Gone are the days of only annual meetings. Regular performance meetings allow ongoing discussions, reviewing key metrics, analysing trends and strategic recommendations. This regular interaction ensures your business stays agile and meets its targets.
Providing strategic financial guidance.
Your accountant should go beyond numbers to help you plan for the future. This includes sessions on cash flow management, margin optimisation and growth planning. By identifying potential issues and opportunities early, your accountant ensures your business remains stable and prepared for future challenges.
Virtual CFO services.
Not every business can afford a full-time CFO, but a virtual CFO service provides next-level financial expertise on demand. This includes financial modelling, risk management, growth planning and offering expert advice without the overhead costs of a full-time CFO. It’s a great option for owners that have a great business but need guidance on how to grow smarter.
Enhancing financial processes.
Are your invoices paid on time? Is your cash balance always low? Efficiency is key to business growth and many businesses struggle with outdated financial processes. Your accountant should recommend processes and best practices, in turn saving you time and resources and ultimately allowing you to focus more on running your business the way you want to.
Success stories.
The benefits of this modern approach are clear. Local restaurants like Pholklore and The Kyn achieved significant growth through Simic Financial’s CFO services. Another client, a staff outsourcing company, increased its net profit from $80,000 to $500,000 this year, and several local building groups have enhanced their profitability and built cash reserves for uncertain times.
The role of accountants within businesses is evolving. By focusing on regular performance meetings, strategic financial guidance and efficient financial processes, accountants become partners in your business journey.
Firms like Simic Financial are shifting the view of what value accountants can bring to your business.
Simic Financial is now offering free cash flow and profitability assessments to eligible businesses. To find out if you are eligible, head to: https://simic.finance/book-a-meeting
//SPONSORED CONTENT