Antiquated billing models are stunting the growth of modern tax and accounting firms. As client needs change, most firms are offering consultative services to meet these new demands. But if you’re still charging by the hour for these offerings, you’re limiting how much your firm can financially capitalize from the transition to this more consultative role.
The traditional hourly approach to billing can punish firms and employees for working quickly and for growing their breadth of knowledge. Instead, your firm should base its consultative service pricing around the value you bring to clients. That’s what clients are seeking—value—and value-based pricing rewards your firm and employees for their expertise and efficiency.