Are you a ‘Real time Accountant’ (RTA) or a ‘Redundant data Accountant’ (RDA)?

The vast majority of Accountants I meet have around 80% of their revenue coming from annual compliance services. That means once the financial year ends they start preparing financial information so it can be lodged with the various Government agencies. By the time they present their findings back to their clients it is 4, 6 and sometimes 9 months (or longer) late.

Seriously, what good is data 9 months after the fact? It’s redundant data. I cannot run my business based on redundant (albeit accurate) data that is chronically late. It’s useless.

It’s interesting that in these ‘annual presentation’ meetings (of the redundant compliance data) Accountants attempt to offer help. ‘Why did you do that?’ and ‘you should have done this’.

There is no point looking in the rear view mirror while offering me advice. I’ll probably hit the oncoming car whilst you’re giving it to me!

As a business owner (and all of my business owner friends say the same thing) I don’t want a RDA, I want a RTA. RTA’s do it differently. They actively promote ‘cloud accounting’ solutions so the data is real time and accurate. They don’t sit around and wait for things to happen. They visit clients. The have their team members trained in offering value added services – the ones that make a difference to my condition. They are connected to their clients through real time financial dashboard. They are alerted to the financial trends in the client site as it happens. They are truly useful!

The differences between RDA’s and RTA’s are highlighted in the table below.

Get your firm into a position where you are real time not redundant. Rise the Real Time Accountant.

 
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