Our Accounting Market Pulse reveals that negotiating price with clients is one of the profession’s greatest challenges, along with recruiting and retaining quality staff.

Here are just some of the tactics being deployed by the leading firms to tackle the issue of negotiating price:

• An increased focus on advisory work (higher margin) versus compliance based work;
• Taking a longer term view together with a total relationship based value approach;
• Increased training for partners and directors regarding pricing discussions, including alternate fee arrangements (such as capped, fixed or flexible fee options);
• Greater up-front due diligence on ensuring that the scope of work is correct.

To read more about how accounting firms are approaching some of the profession’s biggest business challenges, view the full CommBank Accounting Market Pulse.

For more information contact Marc Totaro, National Manager, Professional Services, on 02 9303 1940 or via email at marc.totaro@cba.com.au.