If you're an accountant, you might be worried that the tasks you do every day—such as tax compliance and financial reporting—are becoming automated. Maybe you even think that one day, everything you currently do will be done by a robot.
This might be true if you're not ready to seize the opportunities arising from an increasingly computerized profession. The sky's the limit for those forward-thinking individuals offering a CFO advisory service on top of the bookkeeping and compliance work they already do.
As an outsourced CFO, you’ll stand boldly out from the rest of the pack still trapped in an outdated way of doing business. It’s more lucrative—not to mention more rewarding—to be the trusted advisor that guides businesses to ever greater levels of profitability instead of only carrying out basic accounting tasks.
Every day, the business landscape becomes ever more treacherous, and desperate business owners are looking for someone to help them navigate it without losing their shirts.
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ToggleWhy Automation is a Blessing in Disguise
Some accountants complain that the bots are taking over menial accounting tasks. I say, let them! This frees human number crunchers to do what they do best: offering the kind of in-depth expertise that can transform a struggling business into a profitable one.
Accountants willing to add fractional CFO services to their current offerings have nothing to worry about. For these people, using artificial intelligence to automate processes instead of doing them the old-fashioned way is a blessing in disguise. That’s because they no longer have to carry out low-level tasks that don’t provide real value to clients.
There’s plenty of work for humans to do if, instead of merely doing compliance work and tax preparation, they level up by offering a CFO advisory service.
Here are four reasons why outsourced CFOs will remain relevant in an increasingly automated profession:
1. They’re Offering Something That Can’t Be Commoditized
As AI advances, business owners will increasingly see basic accounting services as commodities.
This means that, from their perspective, accountants aren’t much different than the guy who hauls their trash away or scrubs their toilets. By being an outsourced CFO, you finally have a chance to do something that’ll make you a rockstar in your client's eyes.
That's good news because, with competition ramping up on every front, you need something that can make you stand head and shoulders above the crowd. This competition is coming not only from software companies automating accounting tasks but an overseas workforce offering bookkeeping services for pennies on the dollar.
There’s no way you can compete with that!
Because commoditized services create intense price pressure and flood the profession with low-cost competitors, accountants who only offer traditional bookkeeping services will need to find a way to boost their value in their client’s eyes.
By offering a CFO advisory service, you'll differentiate yourself from all the other businesses offering the same old cookie-cutter solutions. This gives prospective clients a compelling reason to choose your service above all others.
2. They’re Providing Business Owners With a Competitive Edge
As an outsourced CFO, you'll take raw data and use it to generate the kind of out-of-the-box insights that provide entrepreneurs and startup founders with a much-needed competitive edge. This high-value assistance can be a tremendous boon for business owners desperately needing your help.
If you can hone this ability to a razor-sharp point, entrepreneurs will be lining up to work with you.
3. They’re Actual Human Beings—Not Algorithms
As an accountant, you've spent years accumulating knowledge to maximize assets and achieve financial efficiencies—among other things. Now, in an age when all that stuff is being handled by sophisticated computer systems, it might be time to use your considerable expertise in an entirely new role.
That of a business advisor.
This is something a computer program will never be able to do. That’s because business owners want advice from an actual human being—not an algorithm.
Software that automates routine accounting tasks is taking over many back-office functions. In a brave new world where we are increasingly surrounded by AI, people will crave human interaction even more.
Computers might be able to process incredible amounts of data at dizzying speeds. However, they have zero ability to think creatively—unlike you.
4. They Help Business Owners See the Big Picture
As a fractional CFO, you'll give business owners the perspective they need to step back and look at the big picture. Then, you’ll collaborate with them to create strategic initiatives that’ll allow their enterprises to grow like never before.
Try getting this kind of help from a machine!
Make Yourself Indispensable With Training From The Expert CFO
At The Expert CFO, we provide you with the top-notch training that’ll make your dream of escaping the trap of low-level compliance work gloriously real.
There’s never been a better time to upgrade your skill set. With our proprietary systems and technology, business owners will happily pay you five times (or even more) what you’re currently making as a provider of basic accounting services.
That’s because instead of merely ensuring all their financial ducks are in a row, you’ll be transforming yourself into an indispensable asset.
With our comprehensive training, you'll become an outsourced CFO that companies will come to rely on to help them navigate safely past all the obstacles standing in the way of their success—paying you handsomely for your efforts in the process.
Embark on your exciting new career path today!
To learn more about why CFO services are so in-demand and how you can start a CFO firm today, watch our three free classes here.
