This gives Kreston members a competitive advantage


Wednesday, July 24th, 2019

By Kreston CEO, Liza Robbins.

“We provide high-quality accounting and taxation services.”

“Our mission is to provide top-quality financial advice.”

“High-quality accounting without a high price tag.”

Sound familiar?

These aren’t made-up quotes. They come directly off the first websites I visited, when I googled accountants in my area.

And you’d probably get similar results in yours.

Sometimes it seems like every accountancy firm on the planet boasts about providing the very highest quality of services.

It makes sense, doesn’t it?

Your clients all want to buy quality. Certainly, no firm wants to be known for providing low-quality services!

The problem is that when everyone talks about the quality of their audits or tax advice, it becomes nothing more than a cliché.

Instead of lifting you above the competition, it makes you sound just like them.

The truth is that if you belong to a good network or are an established firm, you are assumed to deliver quality.

And in many countries, there is a strong regulatory environment, establishing an expected level of quality.

So unfortunately, “quality” is just not a good differentiator in the market – even though, in reality, of course there can be vast differences between the quality of work delivered by firms.

This leaves us in a dilemma.

Quality is a pillar in the Kreston International strategy. Clients need to know that when they come to us, they should have high expectations – which will be fulfilled.

That’s why this month, we launched the Kreston Quality Bulletin, which provides information on the management of quality within Kreston and looks at up coming developments in this key area for all practices. Please check it out!

But how can we demonstrate quality, when it is something everyone claims to have?

Can quality still be used to differentiate ourselves and win more business – or are there better claims to make?

And if we do decide to actively promote quality audit, what should that look like to clients and to potential clients?

These are important questions for us to consider, as we are all seeking to generate more business.

And I would like to suggest two answers.

The first is to draw your attention to a competitive advantage you have as a Kreston member, which not enough Kreston firms are aware of.

Kreston is a member of the Forum of Firms, an association of international networks of firms that perform transnational audits.

Membership of Forum of Firms is extremely prestigious and exclusive. To be accepted, we have to meet stringent standards of auditing practices.

And in many jurisdictions, this is a marker for quality, giving access to banks and other providers of work such as NGOs and the World Bank.

So not only does your Forum of Firms membership give external evidence that your firm is committed (based verification that you) to deliver quality audits…..

….It can actively be used to gain desirable work that many – if not most – of your competitors will not have access to.

It is an immediate, powerful differentiator – your secret weapon to winning more business!

It should be something you talk about often, include on your website and your proposals, and leverage to gain access to bigger and better clients.

You can learn more about Forum of Firms here.

There is a second way you can demonstrate the quality of your audits to leap above the competition. I’ll tell you about that next week, so please do watch out for that email.

But in the meanwhile, as we are all about sharing knowledge and best practice, I’d welcome your own thoughts on this topic.

How do you demonstrate quality to your prospects? How do you use the quality of your work, to win new clients?

I’d love to hear from you, so please do get in touch and let me know.

 

 

 

 

 

 

 

 

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