Mary Ellen Biery

Industry-leading firms rely heavily on tech to grow their businesses. Here's how accounting professionals can follow their lead.

It is significantly more expensive to attract a new client to an accounting firm than to invest in client retention.

Accountants may be extremely comfortable offering expertise on tax-related savings or advice on expense and cash management, but they may be less accustomed to steering clients to take specific steps to grow revenue.

Survey data has shown that many firms derive very little revenue from value-added, consultative services.

Business clients are likely to require accounting services that are all or mostly digital.