VFD Articles

Introduction

Shifting from compliance-based work to advisory services is not just a change in client offerings—it’s a transformation that affects the entire operation of your accounting firm. A successful transition requires more than just adopting new tools and services; it demands a fundamental shift in your team’s mindset, skill sets, and workflows.

One of the most significant challenges accounting firms face in this transition is overcoming internal resistance. Team members may be comfortable with traditional compliance work and hesitant to embrace new roles or responsibilities. Additionally, a lack of advisory experience can create uncertainty about how to deliver value beyond standard financial reporting.

This article explores how to effectively train your team to embrace the advisory shift and provides strategies for overcoming the internal barriers that often arise when moving into higher-value services.

Why Training is Crucial for Advisory Services

As your firm begins to offer advisory services, the demands on your team will change. Providing compliance-based services, like tax preparation or financial statement preparation, is vastly different from offering strategic, forward-looking advice. Your team will need to acquire new skills and knowledge to deliver advisory services that are both impactful and valuable.

Training plays a vital role in bridging this gap. By upskilling your team, you empower them to confidently interpret financial data, provide actionable insights, and engage clients in discussions about growth, profitability, and strategic planning. Moreover, effective training helps reduce resistance to change by showing your team that they have the tools and knowledge to succeed in their new roles.

Key Areas Where Training is Needed:

• Financial Analysis: Understanding how to analyse a client’s financial data to identify trends, risks, and opportunities.
• Business Consulting: Developing advisory skills, such as providing simple growth strategies, cash flow management, and financial forecasting.
• Client Communication: Enhancing communication skills to explain complex financial concepts in a way that clients can easily understand and apply.
• Technology Proficiency: Learning how to use advanced tools like VFD Pro to automate reporting, generate insights, and streamline workflows.

Overcoming Internal Barriers to Change

Despite the clear benefits of offering advisory services, many accounting firms face internal resistance when trying to make the shift.

Here are some common barriers and how to overcome them:

1. Resistance to New Technology

One of the most common barriers to change is the fear of adopting new technology. Some team members may worry that automation will replace their jobs, while others might feel overwhelmed by the learning curve associated with new software.

Solution:

To address these concerns, focus on how technology enhances—not replaces—your team’s role. Platforms like VFD Pro automate repetitive tasks, such as report generation and data collection, freeing up your team to focus on higher-value advisory work. By demonstrating how technology enables them to provide more strategic services, you can alleviate fears and motivate staff to embrace new tools.

VFD Pro’s Role:

VFD Pro simplifies financial analysis by automating routine tasks and delivering real-time insights, allowing your team to spend more time engaging with clients on meaningful topics. The platform also offers extensive training materials, including videos and guides, to help your team become proficient users quickly.

2. Lack of Confidence in Advisory Skills

Many accountants are comfortable with compliance work but may feel uncertain about their ability to offer advisory services. This lack of confidence can create hesitation when interacting with clients or presenting advisory insights.

Solution:

Invest in comprehensive training that focuses on developing advisory skills. Topics like financial forecasting, scenario analysis, and business strategy should be part of your firm’s training program. Practical, hands-on learning experiences are also essential—encourage your team to work through real-life case studies and client scenarios.

VFD Pro’s Role:

VFD Pro supports skills development by offering a comprehensive training programme covering the entire suite of VFD Pro reporting and modelling capabilities and how to use each one with your clients, meaning your team can gain confidence in delivering strategic advice.

3. Comfort with the Status Quo

Many accountants have spent years delivering compliance services and may resist change simply because they are comfortable with the way things have always been done. The shift to advisory services requires a change in both mindset and day-to-day operations.

Solution:

To help your team move away from the status quo, clearly communicate the benefits of offering advisory services—for both the firm and individual employees. Show how advisory work can lead to deeper client relationships, increased job satisfaction, and new revenue streams for the firm. Encouraging a culture of continuous learning and professional growth can also help ease the transition.

VFD Pro’s Role:

By simplifying the advisory process, VFD Pro helps make the transition smoother. Team members who may have been resistant to change will quickly see how much easier their jobs can be with the right technology, allowing them to focus on more interesting and valuable work.

4. Limited Time for Training

Many firms struggle with finding time to train their team, especially during busy periods. However, lack of training is one of the biggest reasons why firms fail to implement advisory services effectively. If your team doesn’t have the time to learn, they won’t have the skills to succeed.

Solution:

Incorporate training into your team’s workflow by breaking it down into manageable sessions. Online training platforms, self-paced learning modules, and practical workshops can be integrated into day-to-day operations without overwhelming staff. Encourage team members to dedicate time to learning during slower periods and offer incentives, such as Continuing Professional Development (CPD) credits, to motivate participation.

VFD Pro’s Role:

VFD Pro offers an array of training resources that fit into any schedule. The platform provides video tutorials, step-by-step guides, and CPD-accredited training sessions that your team can complete at their own pace, minimising disruption to daily operations.

Training Strategies for Advisory Success

Now we’ve addressed common barriers, let’s explore how to effectively train your team for success in advisory services. A well-thought-out training program will cover both technical skills (such as using financial analytics tools) and soft skills (such as client communication and relationship management).

1. Comprehensive Onboarding Program

Start by developing a structured onboarding program that introduces your team to advisory services, including the specific roles they will play and the tools they will use. This program should cover everything from understanding the firm’s strategic goals to learning how to use new technology effectively.

2. Hands-On Training

Nothing beats hands-on experience. Allow your team to work through real-life client scenarios where they can apply the skills they are learning. This approach helps bridge the gap between theory and practice, giving staff the confidence to interact with clients as trusted advisors.

3. Continuous Learning

Advisory services are constantly evolving, and your team should be encouraged to continue learning. Make sure your training program includes regular refresher courses, webinars, and access to up-to-date resources. Encouraging a culture of continuous improvement will help your firm stay ahead of the curve.

4. Mentoring and Peer Learning

Pair less experienced team members with senior staff who have more advisory experience. Mentoring programs allow for knowledge sharing and help build confidence. Additionally, encourage peer learning through workshops, group training sessions, and open discussions about client experiences.

How VFD Pro Supports Team Training and Development

One of the most effective ways to train your team is by using technology that supports learning while streamlining daily tasks. VFD Pro is designed to help accounting teams transition smoothly into advisory services by providing comprehensive training resources and an intuitive platform for delivering high-value insights to clients.

VFD Pro Offers:

• Video Tutorials: Step-by-step guides that show your team how to use the platform effectively.
• CPD-Accredited Training: Formal training sessions that help team members develop new advisory skills while earning CPD credits.
• Scenario-Based Learning: Practical tools and templates that allow your team to apply what they’ve learned in real client scenarios.
• Intensive implementation support: Truly embed advisory into your practice with The VFD Way Fastrack or Mastermind support.
• Ongoing Support: Access to an extensive library of support materials, including user guides, FAQs, and live assistance.

Conclusion

Overcoming internal barriers and training your team effectively is critical to the success of your advisory services. By addressing resistance to change, building confidence in new skills, and providing the right tools and resources, your firm can transition smoothly into higher-value advisory work.

VFD Pro plays a key role in this process by simplifying workflows, offering comprehensive training materials, and providing advanced financial insights that empower your team to excel in advisory roles.

Ready to train your team and take your firm’s advisory services to the next level?

[Click here to explore how VFD Pro can support your firm’s journey.]

References:

AccountingWeb, “Why Team Training is Critical to Expanding Advisory Services” (2022)

Bridging the Skills Gap: The Role of Training in Advisory Services” (2023)