Note

Please note that this seminar will be held in Johannesburg only.

Overview

Inter-firm surveys continue to reveal that most firms have lock up (debtors/receivables and WIP) as in the region of 25-35% of their gross fee income. The firm’s balance sheet shows this as an asset, but is it? With so much owed to the accountant clients do not necessarily feel that they can make a further financial commitment. This course will show the steps to take to reduce lock up to 15% or less. Your clients will love the new approach – and so will you. Attend this half-day seminar and gain the confidence to bill more for what you do and have your clients willing to pay.

Content

• How the LUBRM model can show the key areas in which you can improve profitability and reduce lock up.
• How to reduce the key variances that reduce profitability before you even raise an invoice
• Billing myths and how to avoid falling into a whole range of low billing traps
• Compelling reasons why you must reduce lock up – it is damaging your client service capability
• Improving job profitability
• Three essential budgeting lessons
• Twelve lessons from my client manager casebook
• Discussing prices with clients and how to avoid giving away your services for less than they are worth
• How to handle price complaints
• Key ways to improve billing
• Massive action campaign to reduce lock up
• The 21st century way to manage your client relationship financially – reduce your lock up to 15% guaranteed!

Presenter

Mark Lloydbottom, Practice Management Consultant, UK

Mark Lloydbottom is acknowledged as a futurist who specialises in management planning and strategy for accounting firms. His programmes and consulting are based on over 25 years’ experience as a practitioner and consultant. He has worked with professional service firms in fifteen countries and has lectured throughout Europe, North America and Africa, standing on platforms with leading industry thinkers including David Maister and Paul Dunn. Mark was a practitioner for 16 years having started his own practice in Bristol in 1978.

He is the founder of Practice Track and PracticeWEB and has also served on various committees with the Institute of Chartered Accountants, including the 2005 Working Party. Mark was a non-executive director of SWAT for ten years, serving as chairman for the last three. He has worked closely with leading firms in the US including Practice Development Institute based in Chicago, BizActions in Maryland, AccountingWEB in the UK and USA and Faust Management Corporation in San Diego. He lectures throughout Europe, the United States and in South Africa for the South African Institute of Chartered Accountants. He also works with a number of the UK's leading firm associations and accounting institutes.

He is devoted to researching and identifying strategies to enable accounting firms to build the top and bottom lines. He achieves this by delivering high-quality consulting, CD/DVD-based management training programmes and lecturing. Yet he maintains his technical expertise and remains PracticeWEB's principal author for site content used by more than 700 UK accounting firms.

Mark is the co-author of Clients4Life published by the Institute of Chartered Accountants of Scotland, South African Institute of Chartered Accountants and the Institute of Chartered Accountants of Australia and New Zealand. He is also the author of the CD/DVD/Manual Defining Edge, Power UP Your Gross Margin.

Who should attend

Practice owners and all client-facing staff.

CPD

Attendance of one half-day seminar will accrue 4+1 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CSSA, ICBA, LSSA, FPI, and the IBA.

Attendance of both seminars will accrue 8 +2 hours’ CPD.

Complete a free online assessment at the end of each event and receive an additional CPD point per seminar.