Value-based is currently revolutionizing the accounting industry, and it can be very useful for your business. In this article, we take a look at how you can make the most of it.
Before we look at why accountants and their clients benefit from value-based pricing in accounting software, it’s crucial to understand how and why accounting platforms have evolved in recent years.
Accounting platforms used to be software that you installed on your computer. The latest accounting platforms, on the other hand, are based in the cloud and are accessed via websites. All the data is saved online rather than on your computer.
These new cloud-based solutions offer a number of benefits, including greater security and the ability to share information between accountants and their clients, who can also log in. They are a huge step forward for the accounting industry.
One of the key advantages of contemporary accounting platforms is subscription-based charging, which involves paying a monthly cost rather than an upfront fee for access. There are no long-term obligations, and you always have access to the most recent version of the platform.
Users have more alternatives with subscription-based charging than previously, which is where value-based pricing comes in.
Do you use your own business?
You may believe that as a small business, you can get by without liability insurance. However, it can protect you from claims, legal fees, and other expenses if someone is injured or property is damaged as a result of your operation. Learn about it and how it works.
Pay Only for the Services You Use
Many of the contemporary accounting software providers offer a range of different packages that are aligned with the needs of different users. Those with minimal requirements can pay less for fewer functions, while those with more advanced needs can pay more for more options. This is known as value pricing.
Because you pay for access on a monthly basis, you can swap between packages as needed.
Both accountants and their clients can profit from value-based pricing.
Let’s start with the benefits for accountants. You can advise clients to use new features as their needs change. This implies you’ll be able to give them the correct product at the right moment.
If all of your software is cloud-based and on a single platform, your clients and employees will only have to learn how to use one system, and it will be accessible from anywhere.
Value-based pricing on cloud-based solutions might be just as valuable for clients. Some employees will require payroll access, while others will not.
Advanced expense management is a client function that may be activated at higher subscription tiers. This allows employees of a customer to scan receipts with their smartphones.
Not all clients, especially those who are new or who operate very small businesses, will desire or want spending management. However, the feature may prove useful in the future, especially if the company expands. They can pay for it when they need it, thanks to value-based pricing.
Value-based pricing is only one illustration of the new cloud-based platforms’ unprecedented flexibility for accountants and their clients. It’s encouraging to know that these digital solutions can adjust to everyone’s demands in these uncertain times.
