The boutique chartered accounting firm offers financial solutions to individuals and businesses across a wide array of sectors. The firm’s team has extensive expertise in accounting, taxation, compliance, and business consulting. With a focus rooted in compliance, the team has more recently invested time and expertise into growing the advisory services arm of the business.
BT Corporate Advisory has had the same mission at its core since it was established in 2007. This mission is to add value to clients with a holistic approach to accounting, underscored by the motto, “To every problem there is a solution and we help you find it.”
Throughout everything BT Corporate Advisory does, the firm’s overarching goal is to help clients achieve financial objectives and attain long-term financial stability, which means the team goes above and beyond simple and increasingly automatable compliance services with the help of cloud-based accounting solutions.
From compliance to delivering tangible wisdom and insights
Boris Feldman, Managing Director of BT Corporate Advisory, comments on the changing role of accounting firms, and the need to incorporate more value-added services powered by cloud-based accounting solutions such as Spotlight Reporting.
He comments, “Any accountant should be doing more than compliance service for their clients. Artificial Intelligence (AI) will take over compliance processing soon and so as a commodity it will get cheaper and cheaper.
“In order to stay relevant, accounting services should evolve into coaching and business consulting. Chartered accountants can use their wisdom to add value to the client, and Spotlight Reporting can be a useful tool to accomplish that.”
BT Corporate Advisory has utilised Spotlight Reporting’s solutions to enable and empower up the advisory services the company offers.
Feldman says, “Compliance is a backbone, however there is so much more that our clients need from us to solve their issues. This includes Business Advice, Coaching, Financial Control and Management Reporting as part of in-depth analysis of all their financial affairs. Spotlight assists us in illustrating their numbers in a comprehensive and easy-to-follow format.”
Realising real ROI from Spotlight Reporting’s cloud-based accounting solution
Prior to incorporating Spotlight Reporting into the firm’s workflow, BT Corporate Advisory would spend hours completing management reporting. This would cost approximately $300 per client per month. As the firm produces monthly reports for 30 clients, this meant the cost would average $9,000 per month.
Moving to Spotlight had now automated this whole process, saving notable time and resources. In addition, it enabled BT Corporate Advisory to add a new revenue stream in the form of a streamlined budgeting and forecasting service. The overall time savings and additional offerings enables the firm to increase average client fees and take on more clients, improving overall revenue.
Feldman comments, “Obviously time equals money for any accountant, and Spotlight Reporting saves us this precious commodity via automation of the process. Once it is set, our team saves time in completing management reporting for our clients and in turn making us more money.”
“Automating with Spotlight allows us to add value to more clients and grow our advisory practice. It helps us to increase average client fees and take on more clients which in turn helps our profitability.”
Delivering insights and confidence above and beyond compliance
Extracting a client’s numbers to deliver management reporting and forecasts enables BT Corporate Advisory to have more meaningful conversations with clients. Already, the firm has numerous accounts of being able to effectively enable clients to better achieve financial goals and objectives, responding to present and potential economic challenges as necessary.
Powered by Spotlight’s reporting-specific software, the firm offers a confident and grounded approach to advisory, adding value and building long-term successful client relationships.
Spotlight Reporting enhances advisory services and client relationships with its effective and easy-to-use tools designed by accountants, for accountants. Continual improvements and robust integrations make this a go-to tool for all accountancy firms. If you’re ready to see what Spotlight Reporting can do for your business, you can start a 14-day free trial.