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Accounting

Research and news relevant to the accounting profession


The time for legal outsourcing is now

June 15th, 2015 |


One of my professors once flippantly remarked that in legal practice, the most amusement associates can have is giving juniors the task of checking inconsequential minutiae in a contract – and asking for it to be returned before they went home yesterday.

At once cruel and amusing, this is also a basic form of outsourcing: sending minor or mundane work to less experienced staff who operate at lower cost. (more…)

Posted in Accounting, beatonbenchmarks, Highlight, Law, Professional Services | 3 Comments »

What solicitors can learn about globalisation from accountants

May 17th, 2015 |


In Australia it used to be that we talked about the Big Six law firms. But the wave of globalisation in the last five years has washed away the old familiar shoreline, leaving in its place outcroppings of mergers, greenfield start-ups, and acquisitions. In its wake, some old names have vanished, others have mixed with new, and new-to-Australia names now abound – all as the winds of globalisation blow. (more…)

Posted in Accounting, beatonbenchmarks, Highlight, Law, Strategy | 3 Comments »

Why PwC values winning Client Choice Awards

April 30th, 2015 |


PwC is humbled and honoured to have been voted as the Best Accounting Firm (revenue over $500m) and Best South Australian Firm at the Financial Review Client Choice Awards this year. 

(more…)

Posted in Accounting, Awards, Highlight, Professional Services | No Comments »

Why firms need to avoid impulse bidding when times get tough

April 5th, 2015 |



This post explains why firms need to avoid impulse bidding when times get tough. And Keith Dugdale, our guest blogger, advises what firms should be doing instead to win new work.

‘Panic stations’ is a feeling all too many firms experience as they head down the slippery slope of starting to believe ‘Because you never know, we just might win’, ‘Anyway, we really need the work’ and ‘We’ve got salaries to pay, and there’s not much work around.’ (more…)

Posted in Accounting, Highlight, Law, Management Consulting, Professional Services, Strategy | No Comments »

Price is positively correlated with the value perceived by clients

July 28th, 2014 |


Beaton's research amongst 10,000s of clients of professional services firms over the last 10 years shows that perceived price is positively correlated with the value perceived by clients. Yes, that's positively correlated. In other words, the higher the price, the higher the value perceived by current buyers users of the service.

In these days of enormous price-down pressure on every firm in every profession, this finding – that perceived price is positively correlated with perceived value – warrants repeating. And explaining. And testing. And learning to use in practice. That's because it's seems at odds with everyday experience of firms.  (more…)

Posted in Accounting, Analytics, beatonbenchmarks, Engineering, Highlight, Law, Legal, Professional Services, Showcase, Strategy | 3 Comments »

Cool CRM insights

June 2nd, 2014 |


Our friend, the irrepressible Joel Barolsky, shared some cool CRM insights about professional services firms in his recent post 'Your loyalty levers: head, heart and ego'. Here' s our riposte. (more…)

Posted in Accounting, beatonbenchmarks, Engineering, Highlight, Law, Legal, Professional Services, Showcase, Strategy | Comments Off on Cool CRM insights

More evidence why cost consciousness is valued by clients

March 31st, 2014 |


We recently received a most welcome testimonial for Beaton's pioneering research into cost conscious, but it's not only law firms that will benefit from being more cost conscious.

In a March 24, 2014 interview with Australasian Lawyer, Herbert Smith Freehills’ Australian managing partner Jason Ricketts is quoted as saying “We just haven’t stopped on cost consciousness, and our rating has improve again this year”.

Here's yet more evidence why cost consciousness is valued by clients and profitable for law and all other professional services firms. (more…)

Posted in Accounting, beatonbenchmarks, Highlight, Law, Professional Services, Showcase | 3 Comments »

Cost consciousness is a missing link for professional services firms

February 11th, 2014 |


Very few practitioners have discovered cost consciousness. Yet, of all the client service attributes measured in Beaton’s research studies over the last decade amongst thousands of clients of professional services firms of all types, cost consciousness stands out head and shoulders in its importance – and neglect by practitioners.

Cost consciousness is a ‘missing link’. (more…)

Posted in Accounting, beaton news, beatonbenchmarks, Engineering, Highlight, Law, Professional Services, Showcase, Strategy | No Comments »

Why fear and fire don’t help in the PSF pricing war

March 5th, 2013 |


This post is a really helpful insight into why law firms and their corporate clients often appear to be chasms apart on fees. And it's not just law firms that are under fire. To varying degrees accountancy, consulting engineering, management consultants, patent attorneys and all other business-related professions seem under attack. What's changed? And what's to be done about it? (more…)

Posted in Accounting, beatonbenchmarks, Engineering, Law, Professional Services | Comments Off on Why fear and fire don’t help in the PSF pricing war

Will mid-tier accounting musical chairs stop now?

April 5th, 2012 |


The risible musical chairs saga of our mid-tier accounting firms is out of step with all other Australian professional services firms. Today's BRW piece by Nassim Khadem graphically chronicles the latest chapter in the sorry story of well-known brands and sizeable practices on whom thousands of clients depend. It's well worth reading. (more…)

Posted in Accounting, Strategy | Comments Off on Will mid-tier accounting musical chairs stop now?

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