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Smithink - helping accountants turn their practices into great businesses
The Crunch
Feb 21, 2024
The podcast delves into benchmarking practices for accounting firms, emphasizing quality over quantity. Topics include financial benchmarks, productivity metrics, AI and automation in accounting, staffing challenges, industry trends, and pricing strategies for services.
33:53
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Quick takeaways
- Focus on quality over quantity for higher profitability in accounting firms.
- Higher average fee per client correlates with increased firm profitability in the accounting industry.
Deep dives
Overview of Benchmarking Survey - The Crunch
The webinar discusses the interim results of the benchmarking survey called The Crunch, conducted in collaboration with benchmarking.com. The survey aims to revitalize benchmarking for accounting firms, focusing on financial benchmarks, employee productivity, pricing strategies, and returns. The interim report, based on data from over 85 participants, highlights key insights such as net profit margins, leverage ratios, and average revenue per full-time equivalent (FTE) staff.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode