For CPA Firms, and Accounting Practices
A co-branded bookkeeping solution can help firms boost their brand’s image, build trust with clients, and continuously innovate in an industry that’s constantly changing. With the right partner, a co-branded, outsourced bookkeeping solution can help accounting firms grow and reach their business goals.
A co-branded solution, also known as grey-labeling, is a way for two companies to work together in a mutually beneficial capacity. When two companies co-brand a solution, both of their names are featured on the product or service—enhancing credibility and reputation in the market.
Firms considering co-branded solutions should think about their long-term business goals. Co-branding has benefits that many CPA firms are looking for:
If you are trying to build-up your firm’s name, co-branding with reputable and well-known brands provides a quick and impressive way to get your company in front of potential clients and strengthen their loyalty to your firm. Co-branding on an innovative cloud-based software, a bookkeeping service, or an accounting tool that features your firm’s logo can create a stronger brand image that’s consistent with your existing positioning. Co-branding will also make your firm stand out against competitors because you won’t be relying on off-the-shelf solutions to serve your clients.
Accounting laws and regulations are constantly shifting, and technology within the industry also changes. Co-branding with a well-known brand that embraces new technologies allows you to leverage time and money saving tools from developers who are constantly innovating and integrating new features into the platform.
Using a co-branding solution allows you to scale your business in a shorter amount of time. For example, adopting a powerful bookkeeping service that is supported by customized accounting software like KPMG Spark would let you automate your bookkeeping processes. By not having to do all of your client’s bookkeeping in-house, you’ll have the time to take on more clients. Co-branding lets you scale your firm by leveraging trained bookkeepers and CPAs that can provide real time financial statements to your clients from within a solution that still presents your brand name.
At KPMG Spark, we understand and appreciate the importance of the relationship between a CPA firm and its clients. Clients put their sensitive data in the hands of their accountants and trust them to perform all of their accounting needs in a timely manner. Building strong client relationships takes hard work and dedication. This is why it’s paramount to us that we help you preserve the excellent relationships you maintain with your accounting clients.
The cloud-based software and technology from KPMG Spark can automatically ingest and analyze accounts, performing bookkeeping in real time. Our online accounting dashboard lets CPA firms see a snapshot of their clients’ operations and track historic trends. KPMG Spark bookkeepers stay up-to-date on tax changes and reporting requirements, making it easier for you to perform accounting tasks, run your firm, and better serve your clients.
Leverage your background and expertise while simultaneously benefiting from the support and services that KPMG Spark brings to the table. KPMG Spark co-branding solutions can help your firm grow by allowing you to maintain control over your brand and marketing while increasing the quality of your client relationships. Our co-branded bookkeeping solution gives firms the ability to provide bespoke reports and differentiate themselves from firms that use off-the-shelf solutions. When an accounting firm co-brands with KPMG Spark, the firm’s name is presented alongside a trusted industry resource.
The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG LLP.
This blog article is not intended to address or provide advice concerning the specific circumstances of any particular individual or entity and does not constitute an endorsement of any entity or its products or services.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.
The following information is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230. The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.
Many firms struggle to scale in a competitive market. It can be difficult to keep up with ever-evolving tax laws and changing technologies while remaining cost-effective. Accounting firms that utilize scalable business solutions can improve the profitability and efficiency of their services even when their workload increases.
In recent years, the accounting industry has seen the development of a service model called client accounting services (CAS). Thanks to advances in cloud-based software and technology, firms can efficiently offer more clients a greater range of accounting and bookkeeping services. Firms that decide to offer CAS can better serve their clients and scale their businesses by providing these extra services.