Pricing Policies for Professional Firms
20 CPD Hours
AUD $700+GST Per location
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?
This self-paced 10 part eLearning course is designed to help accounting and advisory firms develop and implement pricing policies relevant to the needs of their clients.
Who should enrol?
Partners and Managers – This course will help partners and managers establish a consistent approach to pricing that maximises return for both the value and time cost associated with service delivery. Through this course, you should be able to develop a formal pricing policy for your firm.
Technical and Administrative Staff – The course will provide technical and administrative staff with guidelines and procedures to effectively manage pricing as client matters are commenced and completed. Procedures for communicating changes in scope and fees will be provided.he 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.
1. The psychology of smarter pricing strategies
2. The continuum of pricing options for advisory firms
3. Pricing ground rules for compliance and advisory services
4. Negotiate the fee for service with clients up front
5. Manage work to the agreed scope and fee
6. Address changes in scope of work and pricing
7. Increase fees for advisory and compliance work
8. Establish and manage fixed fee pricing approaches
9. Deal effectively with price sensitivity from clients
10. Establish internal pricing policies for success
Our self-paced eLearning courses follow a 4-step process in relation to learning objectives:
All modules are structured with specific learning objectives and assessment tasks. Learners are expected to demonstrate that they understand learning objectives and can apply concepts through completion of the assessment tasks. A SMART action planning template is used to consolidate specific actions and to ensure that a timeframe for completion is established and followed. Regular review of progress is ensured through commitment to completing the course.