Transform Client Relationships from Transactional to Consultative

Who am I? Ian Vacin Vice President, Marketing & Product Mobile: 510-517-6267 Email:ian.vacin@xero.com Skype: ianvacin Twitter: @ian_vacin

Introducing Xero Global leader in online accounting Customers in 100+ countries, doubling year over year 300+ staff spread across NZ, AU, UK and US (San Francisco, Austin, Atlanta) Processed over $120B of transactions A new release every 6 weeks Unlimited users, with different roles Bank feeds from 5,000+ institutions

Customer acquisition 110,000 First 50,000: 5 years Second 50,000: 10 months

Who are the Panelists? Steve Chaney, CPA Owner, Chaney & Associates Has served in the accounting field since 1996 Leverages technology as cornerstone for Chaney & Associates Hand picked to sit on a roundtable of thought leaders for cloud based technology Michelle Long, CPA, MBA Owner, Long for Success ’10 Women Who Inspire a Profession’ by Accounting Today Worth Watching Accounting Blog by Accounting Today Small Business Influencer Community Choice Winner by Small Biz Trends

Transforming Client Relationships Phase 1: Identify the right opportunities Phase 2: Setup the relationship Phase 3: Be the trusted advisor Phase 4: Increase your value-added services

So where are we headed?

Phase 1: Identify the right opportunities Listen: What problem are they trying to solve? Understand: Ask questions about their business Decide: Is it worth taking this engagement? WRONG CLIENT SITUATIONS Client is not open minded Client only wants one service (write-up) Not looking to change their business practices RIGHT CLIENT SITUATIONS Looking for greater efficiency Looking for more financial flexibility Looking to grow/change Tech savvy

Phase 2: Setup the relationship Educate: Articulate the value of working with you Demonstrate: What tools you use & how it works Communicate: Be clear on services, prices & ownership EDUCATE Value of being the trusted advisor Benefits of the cloud Financial responsibility and flexibility DEMONSTRATE How it works The tools Xero provides COMMUNICATE Bundled, monthly services Do it on their own

Phase 3: Be the trusted advisor Train: Set client up for success Deliver: Be sure client “ask” is satisfied Support: Be proactive, not reactive Buildtrust “Being there to train and support the client has become a very important part of our business. We build the trust in the relationship and in turn we have now become a very important part of their business.” Lisa Callaghan – Interactive Accounting

Phase 4: Increase your value-added services Analyze: Leverage your inside knowledge & skill Delight: Over-deliver; “Sample” your services Recommend: Serve up services as appropriate “As accountants, value is not putting the client into a bucket but being their advisor. We add more value to the client by not being someone who just always looks at the numbers.” Jody Padar – New Vision CPA Group

Recap: 12 steps to consultative engagements Phase 1: Identify the right opportunities Listen -> Understand -> Decide Phase 2: Setup the relationship Educate -> Demonstrate -> Communicate Phase 3: Be the trustedadvisor Train -> Deliver -> Support Phase 4: Increase your value-added services Analyze -> Delight -> Recommend

Example: Write-ups
“Using the old method, I wasspending 8 hours just on tax and accounting work. With Xero, I have cut the tax and accounting work down to 4 hours and spend the other 4 hours on advisory value-add services.” Jody Padar – New Vision CPA Group

Leverage the “single ledger” A collaborative approach to accounting For the advisor For the client Shared data Invoicing A/R A/P Sales tax Expense claims Contacts General ledger Management reporting Annual reporting Fixed assets AUTOMATED DAILY BANK FEEDS

Recap: 12 steps to consultative engagements Listen: What problem are they trying to solve? Understand: Ask questions about their business Decide: Is it worth taking this engagement? Educate: Articulate the value of working with you Demonstrate: What tools you use & how it works Communicate: Be clear on services, prices & ownership Train: Set client up for success Deliver: Be sure client “ask” is satisfied Support: Be proactive, not reactive Analyze: Leverage your inside knowledge & skill Delight: Over-deliver; “Sample” your services Recommend: Serve up services as appropriate

Questions? www.xero.com Try for free at: www.xero.com/signup Become a partner at: www.xero.com/partners

Appendix

Steve Chaney, CPA …

Michelle Long, CPA, MBA

Transform Client Relationships from Transactional to Consultative