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
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
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.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
