Introduction
Course outline
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This self-paced online course is designed to help accounting and advisory firms develop and implement pricing policies relevant to the needs of their clients
The accounting and advisory firm of the future understands that traditional approaches to setting and managing price can be quite unreliable in achieving a strong return on investment. Compliance work is increasingly commoditised and price sensitive. Many firms struggle to persuade clients to pay for services that clearly add value beyond compliance.
A modern approach to price management focuses on 4 key areas:
1. Setting the price (the art and science behind defining the right price)
2. Getting the price (how to communicate and negotiate the value of service)
3. Managing the price (delivering services efficiently and appropriately)
4. Reviewing the price (providing the basis for continual improvement)
How effective is your firm at setting, getting and managing price? Are decisions made on a collaborative or ad hoc basis? Does your firm have a pricing policy?
HTST has developed a self-paced 10 part eLearning course to help accounting and advisory firms develop and implement pricing policies relevant to the needs of their clients.
The course is designed to be presented to the partners, managers and technical staff of accounting and advisory firms directly involved in setting and managing prices. The course can be run in a group or individual format. Assessment tasks will encourage and challenge your firm to consider what you can do to improve the way the firm manages pricing. Support material will include workbooks, procedures and scripts relevant to the topics being discussed.
This course is suitable for any accounting or advisory firm looking to improve the way it sets, gets and manages price for compliance and advisory services.
The course is eligible for 20 CPD Hours. All registrants will have access to the course content for 12 months following registration
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Modules
Here is the course outline:
1. The psychology of smarter pricing strategiesUnderstand the psychology of pricing |
2. The continuum of pricing options for advisory firmsExplore 16 different options for pricing services |
3. Pricing ground rules for compliance and adviceEstablish ground rules for setting prices |
4. Negotiate the fee for service up frontHow to get clients across the line |
5. Manage work to the agreed scope and feeTake control of the time cost and fee budget |
6. Address changes in scope of work and pricingDiscuss variations in scope with clients |
7. Increase fees for advisory and compliance workHow to increase fees sensitively and confidently |
8. Establish and manage fixed fee pricing approachesConvert clients to fixed fee pricing |
9. Deal effectively with price sensitivityManage clients when price becomes an issue |
10. Establish internal pricing policies for successSet formal policies and agreements on pricing |