As presented to practising accountants at a CPD programme in Accra organised by the Audit Quality Monitoring department of ICAG.

1. by
Accountants in Practice
Belinda Odonkor
Manager,
Audit Quality Monitoring
ICAG
La Palm Royal Beach Hotel – 25 November 2014

2. Expectations?

3. Key Discussion Topics
What is Value Added Services?
Providing Value Added Services as a process
Skills needed to provide value added services
Ways to bring Added Value Services
Costs, Benefits and Challenges of Providing Added
Value Services

4. Preamble
• What value do you place on your self as a professional
accountant and your firm?
• Are you devalued?
• Core Services and Value Added Services?
• Are you providing value added or devalued services?
• Added Value and Value Added. Any difference?
Additional Services?

6. Definition -What is it?
Taking your client service to the next level
Solving problems you’re not expected to solve
or beyond the adequate solution
 Soft terms – the way it resonates with the
clients’ internal and emotional world

7. Definition -What is it?
• Different for every client depending upon his goals (Differing
needs and priorities). Value perceived by each stakeholder is
different
• Value you bring clients goes far beyond just doing the job
you were contracted to do.
• Behavior or service beyond their expectations (Going
beyond what is realistically expected of you i.e. the norm)
• What is your “service or product” ?

8. Providing Value Added
Services is a process…
• Starting point (Your firm)
“Before thinking about value-added, it is important to
make sure that your current level of service is at least as
good as your competitors. Otherwise, no amount of
value-adding will keep your clients from shopping
around”

9. Providing Value Added
Services is a process…
• Not a one time or one off exercise. Continuous
process of consciously seeking ways of adding value .
Takes a lot of effort. Need to know client inside out.
• Needs to be revamped and adapted to changes in
client’s objectives, concern and business
environment. Proactive
• Providing value is a principle that you need to drive
your business with.

10. Importance of providing
value added services. Why?
• What are you doing differently? Actively look for ways to
bring value to your clients
• Provides you the opportunity to differentiate yourself
from other practicing accountants?
• Creates lasting memories in the minds of clients
• Clients would sing your praise to their colleagues who
eventually are potential clients

11. Importance of providing
value added services. Why?
• Rise up to the challenge. Keep up with the pace.
• Provides the opportunity for you to demonstrate your
other capabilities to your clients.
• Demonstrates your understanding of the clients business

12. needed to provide value
added services
• What skills do you bring to the table.
Thinking global or acting in your
comfort-zone
• Think outside the box or remain
clogged inside
• What will make you a practising
accountant of value?

13. Skills needed to provide
value added services
• Must be a total breed
• Ethical, Integrity, Build relationship with your
clients based on trust
• Software applications that matter to the business of
your client.
• Knack for Business Development

14. Skills needed to provide value
added services
• Street Wise: Ask questions, be witty, generate ideas,
be curious about events around you.
• People skills. Don’t lose out on the social side of life
and become an introvert.
• Thorough understanding of client’s stakeholders,
business, technology and operations as a whole

17. Ways to bring added value to
clients.
• Networking - Do you have clients that might mutually
benefit from meeting each other?
• Share Knowledge (Articles, Publications, Facts/News
Items, Presentation Material), Interesting and
relevant articles
• Take your clients to interesting events that might
benefit them for networking or exposure to other
clients

18. Ways to bring added value to
clients
• Participate in clients events
• Have you noticed any events that you could notify
your client about?
• Or seen any business opportunities in the local
paper? It’s simply looking at opportunities that
might be useful to your client.
• New and interesting ideas based on your
experience.
• Providing cutting edge service to their clients

19. Ways to bring added
value to clients
• Listen and Observe carefully. Client should define the
added value. No two clients are the same.
• Appearance is important. Dress professionally for the
occasion.
• Serviceable – Availability, First point of call, Interesting
and relevant articles

20. Ways to bring added value to
clients
• Create real relationships – get real and personal (TLC);
personal approach
• Don’t just ask questions about clients business but ask
questions about themselves and their lives
• Ask real questions, honestly care about the answer and
create a real connection.

21. Ways to bring added value
to clients
• Good Communication. Pick up the phone. Do not be
unresponsive. By hearing your voice clients will feel more
connected to you.
• If you can show your clients that you are thinking of them,
even when they aren’t directly paying for it, they’ll
probably think of you first when they do need a service.

23. Costs of providing value
added services?
 Time
 Money
 Human Resources

24. Benefits of providing value
added services?
 Sets you apart from the competition
 Boosts client relationships and client retention
 Advocate for your business among other potential clients.
Extensive referrals and growth
 Value added resonates the idea that you are providing
quality services. Positive correlation between quality
services and value added services

25. Challenges of providing
value added services?
 The position of your firm
 Sole/Small Practitioners
 Part-time practitioners
 Type of clients

26. Value added services
Are you providing value added services
without realizing it?
What examples can you share of how you
provide value added services to clients?