{"id":4193,"date":"2025-01-22T09:00:26","date_gmt":"2025-01-22T09:00:26","guid":{"rendered":"https:\/\/qxaccounting.com\/uk\/?p=4193"},"modified":"2025-09-17T14:59:45","modified_gmt":"2025-09-17T14:59:45","slug":"new-tax-year-special-how-accountants-are-gearing-up-for-a-spike-in-demand-for-advisory-services-in-2021","status":"publish","type":"post","link":"https:\/\/qxaccounting.com\/uk\/blog\/spike-in-demand-for-advisory-services\/","title":{"rendered":"How Accountants Are Gearing up for a Spike in Demand for Advisory Services in 2025"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Imagine your regular high-school drama student, jumping out from backstage support and landing straight into the spotlight<\/strong> \u2013 that&#8217;s what accountants went through over the last five years. From anonymously processing payslips to advising on changing government schemes, accountants have been the right hand of their clients, managing their expectations and navigating the industry-wide changes.<\/p>\n\n\n<div class=\"wp-block-aioseo-table-of-contents\"><ul><li><a class=\"aioseo-toc-item\" href=\"#aioseo-what-led-to-the-sudden-spike-in-advisory-services\">What Led to the Sudden Spike in Advisory Services?<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-do-clients-really-need-advice\">Do Clients Really Need Advice?<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-value-for-money\">Value for Money<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-what-is-the-role-of-advisory-services\">What is the Role of Advisory Services?<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-dont-have-time-for-advisory-its-time-to-outsource\">Don&#039;t Have Time for Advisory? It&#039;s Time\u00a0to Outsource!<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-its-the-smart-ones-who-survive\">It&#039;s the Smart Ones Who Survive<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#aioseo-how-can-qxas-help\">How Can QXAS Help?<\/a><\/li><\/ul><\/div>\n\n\n<p class=\"wp-block-paragraph\">Today, accountants are considered <strong>more dependable than ever<\/strong>. The pandemic brought their advisory and crisis management skills to light which has <strong>strengthened their role as trusted advisors.<\/strong> Earlier considered as mere number crunchers, accountants now have morphed into a one-stop solution for business and accounting problems.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, keeping in mind the changes in the accounting industry and the new evolved role of accountants, here\u2019s an article talking about <strong>the huge spike in the demand for advisory services in accounting<\/strong> and <strong>how accountants can make the most of this opportunity.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"aioseo-what-led-to-the-sudden-spike-in-advisory-services\"><span data-contrast=\"none\">What Led to the Sudden Spike in Advisory Services?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:40,&quot;335559739&quot;:0,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">The coronavirus pandemic pu<\/span><span data-contrast=\"auto\">shed the entire profession to move to the clou<\/span><span data-contrast=\"auto\">d<\/span><span data-contrast=\"auto\">.&nbsp;<\/span><span data-contrast=\"auto\">Even though the&nbsp;<\/span><span data-contrast=\"auto\">use of technology&nbsp;<\/span><span data-contrast=\"auto\">and&nbsp;<\/span><span data-contrast=\"auto\">software like<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">Sage, IRIS, Xero,&nbsp;<\/span><span data-contrast=\"auto\">BrightPay,<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">e<\/span><span data-contrast=\"auto\">tc.<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">made<\/span><span data-contrast=\"auto\">&nbsp;processes efficient, it was still a steep learning curve for clients<\/span><span data-contrast=\"auto\">.<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">At th<\/span><span data-contrast=\"auto\">at<\/span><span data-contrast=\"auto\">&nbsp;moment,<\/span><span data-contrast=\"auto\">&nbsp;clients desperately&nbsp;<\/span><span data-contrast=\"auto\">looked for new kinds of advice<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">which led to a<\/span><span data-contrast=\"auto\">&nbsp;<\/span><span data-contrast=\"auto\">sudden&nbsp;<\/span><span data-contrast=\"auto\">spike<\/span><span data-contrast=\"auto\">&nbsp;in<\/span><span data-contrast=\"auto\">&nbsp;the demand for<\/span><span data-contrast=\"auto\"> accounting advisory services.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"aioseo-do-clients-really-need-advice\"><span data-contrast=\"none\">Do Clients Really Need Advice?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:40,&quot;335559739&quot;:0,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yes! Clients do need advice, but the concern here is <strong>\u2013 Do they need it from their accountants?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a study by PracticeWeb, <strong>almost 61% of clients<\/strong> refer to their accountant as their main source of business advice and this leaves nearly 40% who get their piece of financial advice from somewhere else. Clearly, a problem that needs a fix. Here are a couple of problems that we could identify as a cause of the 40% gap.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"322\" height=\"473\" src=\"https:\/\/qxaccounting.com\/uk\/wp-content\/uploads\/sites\/2\/2021\/04\/graaa.png\" alt=\"\" class=\"wp-image-4199\" srcset=\"https:\/\/qxaccounting.com\/uk\/wp-content\/uploads\/sites\/2\/2021\/04\/graaa.png 322w, https:\/\/qxaccounting.com\/uk\/wp-content\/uploads\/sites\/2\/2021\/04\/graaa-204x300.png 204w\" sizes=\"auto, (max-width: 322px) 100vw, 322px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><span style=\"text-decoration: underline;\"><strong>Main sources of business advice for clients<\/strong><\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"aioseo-value-for-money\"><span data-contrast=\"none\">Value for Money<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:40,&quot;335559739&quot;:0,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Offering advisory services as a billable product has been difficult for accountants because giving <strong>away free advice has always been a part<\/strong> <strong>of the job<\/strong> for a long time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There may be reluctance from clients who now have to pay for something they believe they used to get for free. Now, the tricky part for accountants is to position themselves as <strong>an advisor who&#8217;s worth the monthly bill themselves.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The problem is a stumbling block for both parties. Since for many practices, it often gets challenging to sell advisory services because many accountants find it difficult to suddenly start charging for advice that they have been used to giving out casually over meetings and phone calls. This also adds to the risk of losing that client.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And that\u2019s why <strong>market positioning<\/strong> becomes of utmost importance here.<\/p>\n\n\n<div class=\"blogin-graphics highlightbox7\" id=\"bgblock_code\" style=\"\">\n    <div class=\"blogin-graphics-in\"><\/p>\n<h3 style=\"text-align: center;\"><span class=\"TextRun SCXW233078812 BCX9\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW233078812 BCX9\" data-ccp-parastyle=\"heading 1\">The Importance of Market Positioning<\/span><\/span><span class=\"TextRun SCXW233078812 BCX9\" lang=\"EN-IN\" xml:lang=\"EN-IN\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW233078812 BCX9\" data-ccp-parastyle=\"heading 1\">\u00a0for Accountants<\/span><\/span><span class=\"EOP SCXW233078812 BCX9\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:240,&quot;335559739&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h3>\n<p><strong>You are an all-around business advisor, but do your clients know about it?<\/strong><\/p>\n<p>The need to market your advisory services is non-negligible. Your role as an advisor needs to be marketed well to your existing and potential clients. The key here is to show your expertise and position yourself uniquely which helps you stand out from the rest of the crowd selling the same service.<\/p>\n<p>With that being said, the initiative to position you and your accounting firm uniquely in the market is a one-time investment \u2013 of your time &amp; resources. What you reap is years of organic growth, brand name, and spike in client retention. <strong>So, where do you start your marketing? <\/strong><\/p>\n<p>Let\u2019s begin with branding. Branding is crucial to set up a unique identity that helps your clients identify you as an entity different from the rest. In a scenario where every accountant is making the same noise<strong>, it is really important to create a USP (Unique Selling Proposition) and voice it out. <\/strong><\/p>\n<p>Here\u2019s a trick to start with, don\u2019t simply describe some basic features of your services on your website, instead mention what value your clients are going to get and the outcomes. Otherwise, you will end up competing on price alone which may lead to losing prospects.<\/p>\n<p>Your messaging should clearly define <strong><em>\u2018your differentiating factor\u2019<\/em><\/strong> and how it can boost their growth. Once you make that the right combination of your demonstrating your high-value services and setting up your unique identity \u2013 <strong>you are all set to up your advisory game. <\/strong><\/p>\n<p>Last but not the least, understand the importance of increasing visibility online and make sure you advertise your knowledge by speaking more. Participate in webinars, podcasts and use digital marketing channels to widen your reach.<\/p>\n<p><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"aioseo-what-is-the-role-of-advisory-services\"><span class=\"EOP SCXW32974067 BCX9\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:40,&quot;335559739&quot;:0,&quot;335559740&quot;:259}\">What is the Role of Advisory Services?&nbsp;<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The recent recession and subsequent inflation propelled more and more clients to move towards advisory services. Clients look forward to their accountants playing a key role in their decision-making as long as they feel they are getting good value, but that brings into question &#8211; <strong>how do you define the value?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It&#8217;s how you see it. Business owners see things from their business perspective, but <strong>accountants may sometimes overlook the client\u2019s perspective<\/strong> and assume that they may already have an understanding of technical topics like cashflow statements, financial reporting, etc. This results in both of them missing out on the opportunity to receive good advice and latter to step up as an advisor.<\/p>\n\n\n<p>[boxinfo title=&#8221;63% of clients regret having made business decisions without speaking to their accountant first.&#8221;]<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To bridge this gap, the accountant needs to make the first move. Numbers are your strength but as advisors, it\u2019s your job to draw a comprehensive analysis from those numbers, keeping in mind the multitude of factors affecting them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A good start would be to start speaking the language of your clients and produce business health check reports with your insights and analysis.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"aioseo-dont-have-time-for-advisory-its-time-to-outsource\"><span data-contrast=\"none\">Don&#8217;t Have Time for Advisory? <\/span><span data-contrast=\"none\">I<\/span><span data-contrast=\"none\">t&#8217;s<\/span><span data-contrast=\"none\"> Time&nbsp;<\/span><span data-contrast=\"none\">to O<\/span><span data-contrast=\"none\">utsourc<\/span><span data-contrast=\"none\">e!<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>24 hours. One accountant. And a shedload of tasks falling off the plate.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The act of balance really gets critical when accountants have to take care of both \u2013 accounting and advisory services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Advisory, being a new service, is more time-consuming as it involves frequent meetings with the clients. In such a scenario, the ideal thing to do is to hire <a href=\"https:\/\/qxaccounting.com\/uk\/accounting-outsourcing-services\/\" target=\"_blank\" rel=\"noopener\">outsourced accounting services<\/a> providers and share your workload of low-margin compliance functions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Not only you get your job done, but you also achieve cost-effectiveness and better efficiency. The outsourcing partner becomes your extended team taking care of the non-core, compliance tasks, while you focus on offering those &#8216;value-added services&#8217;. And that&#8217;s <strong>how the benefits of accounting outsourcing help to restore the balance.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"aioseo-its-the-smart-ones-who-survive\"><span data-contrast=\"none\">It&#8217;s the Smart Ones Who Survive<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>It\u2019s time to evolve into a new breed of smart accountants.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Unlike the traditional accountant, it\u2019s time to work smarter and show the value of your work. Free up your time so that you can focus on providing insights your clients really value. They know what you do, but what they need to know is \u2013 <strong>How proficient you are at your job? What is the quality of your service? And if you can help them achieve their goals?<\/strong> And all of this happens when you communicate. So, don&#8217;t hesitate to share your expert knowledge because that&#8217;s what helps you and your clients win in the long run.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"aioseo-how-can-qxas-help\">How Can QXAS Help?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">QXAS, a market leader in outsourcing, provides tailored accountancy outsourcing services to 350+ leading accounting practices in the UK. We have over two decades of experience in the industry, helping firms scale and create the capacity for higher-value services such as advisory.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Curious to know how our services can benefit your firm? Reach out to our experts on the contact details below.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">Call: +44 208-146-0808 or Email: <\/span><a href=\"mailto:qxa&#115;&#64;&#113;&#120;g&#108;&#111;b&#97;lg&#114;&#111;&#117;p.&#99;&#111;m\">qxa&#115;&#64;&#113;&#120;g&#108;&#111;b&#97;lg&#114;&#111;&#117;p.&#99;&#111;m<\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">We would be happy to help!<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\"><\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Imagine your regular high-school drama student, jumping out from backstage support and landing straight into the spotlight \u2013 that&#8217;s what accountants went through over the last five years. From anonymously processing payslips to advising on changing government schemes, accountants have been the right hand of their clients, managing their expectations and navigating the industry-wide changes. [&hellip;]<\/p>\n","protected":false},"author":45,"featured_media":8856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[187],"tags":[149,55,57,4,70],"class_list":["post-4193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","tag-advisory","tag-growth","tag-industry","tag-outsourcing","tag-practice-strategy"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/posts\/4193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/comments?post=4193"}],"version-history":[{"count":0,"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/posts\/4193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/media\/8856"}],"wp:attachment":[{"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/media?parent=4193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/categories?post=4193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qxaccounting.com\/uk\/wp-json\/wp\/v2\/tags?post=4193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}