Over the past two or three weeks I have been telling you about the new Qvinci® Turnkey Advisory Program in preparation for a webinar I am hosting on August 26, 2021. This feature is the first of a 3-part mini-series that is designed to highlight each of the Three Steps of that new Program to not only answer some more of your questions but spur your interest in participation.
As I have told you, this is a unique one of kind program that combines (1) a software element, which is the Qvinci Advisory Portal, (2) a report-based advisory component centered around Qvinci’s KPI Scorecard, and (3) a marketing element that not only allows you to ‘spread the word’ but do so in a way that clearly sets you apart from your competition. Qvinci conveniently refers to these aspects of the program as ‘Phase 1’ Steps 1 through 3. But you see there will be more to this program because along with the dedicated support and commitment Qvinci is already preparing a ‘Phase 2’ that will enhance and expand their Advisory Program.
With this program, Qvinci is meeting one of the biggest needs of accountants, the challenge of providing actionable financial insights into a client’s business in a clear and concise way. Qvinci provides not only the ‘analytics’ and the reporting (the complexities of accounting), but “easy to understand” numbers (so to speak) that any business owner can understand and even the most sophisticated client will appreciate.
As the illustration above indicates, it all begins with Step 1 a ‘Review of the Metrics’, and that begins with Qvinci’s Advisory Portal. The Advisory Portal is your landing spot when you login to Qvinci and you see all of your clients, which Qvinci calls ‘reporting entities’ (because a client might have multiple entities) in the 2nd column, as shown in the illustration below.
Source: Qvinci Turnkey Advisor Program content
All of the metrics for each client are provided automatically in the columns to the right of that client’s name. You get a single, dynamic view of each client’s financials, illustrating favorable (GREEN) or unfavorable (RED) trending across multiple time periods and for the 10 key ratios that drive most organizations.
The portal presents the clients’/entities’ summary-movement data over time (dynamically), allowing you to see the favorable and unfavorable trending across various time periods you select, and at the same time give you access to the general ledger and journal entries from which the portal information were directly drawn. In and of itself, the portal provides ‘at a glance’ clear indication of a client’s financial status so that the financial advisor can easily determine clients needing more attention.
As an example of that type of attention, if we simply look at the metrics for just one client from the above example, you can zero in on unfavorable (RED) or favorable (GREEN) areas you want to explore more closely, like the ones shown in the circles below. If you were to click on those numbers, you will have the in-depth data that makes up the numbers shown in the portal available to you almost instantly.
During our webinar you will get to see this in action, and you will observe how it’s not only easy to identify clients with significant unfavorable metrics, but what is causing those metrics to be unfavorable. Using the Advisory Portal makes it easy to examine all of your clients, and to then dive more deeply into those that really need your attention because you can quickly identify those who are not doing as well from those who are performing admirably. And when you find clients with significant issues over several metrics you know that is definitely a client who needs your help.
When you get ready for reporting, your clients will be sorted in the Advisory Portal for navigational purposes by their ‘accounting reporting’ type, either Accrual-basis or Cash-basis entities, but that’s part of what we will cover in next Thursday's feature when we look a ‘Step 2 – Generating the Reports’.
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Folks, I am really excited about this new 'Turnkey Advisory Program' that Qvinci has developed to help you provide services to your client. It's an all-in-one streamlined package that you really must see to believe, that's why I am asking you to join me when I host Charles Nagel, the Founder and CIO of Qvinci, on August 26th at a special Insightful Accountant webinar at 2:00 PM Eastern and we discuss this new program and how it can totally transform your accounting practice.