| As they face tightening resources, rising
costs and a perception that clients value services differently, accountants are making
some hard decisions. So now, it's time that firms do for themselves what they do for their
clients: examine their businesses and determine if they are providing the right mix of
products and services.
The American Institute of CPAs' Vision Project has
identified many emerging practice areas that firms should consider, and there are many
opportunities that firms can pinpoint for themselves. The overwhelming number of choices
presents a new dilemma concerning how firms should invest their scarce partner, staff and
financial resources.
If you were doing this evaluation for a client, the
following points would be considered:
- What are the opportunities?
- What resources are required to implement the new service
area?
- What resources does the firm have or could make available
for the new service?
- Which opportunities present the best chance for
profitability?
Most accountants have done this type of planning many times
for clients using business planning software tools. This review covers some of the
industry's leading planning tools, which accountants can use in helping their clients
enter new businesses or to determine businesses that their firms can enter.
Whether they are used externally or internally, business
planning applications offer accountants some very valuable organization and
standardization features. They also offer information-gathering methodologies for
developing assumptions and projections, as well as for creating report narratives. Many
packages also can compare plans' actual results to projections to provide a continuing
client service.
Here are some common features of business planning
applications:
- Wizards for importing information;
- Standard templates that can be used in the interview
process; (some also have extensive customization capabilities that fit the interview
process to the accountant);
- Integration with office applications;
- Formatting features for preparing high-quality
presentations;
- "Expert analysis" features that can look at
projection information and assumptions and comment on plan weaknesses;
- Features to promote after-the-plan follow-up, which turns
plans from static documents to engagements that evolve as the business scenario unfolds.
The six applications reviewed here are: BizPlanBuilder
Interactive, Business Plan Pro, Budget Maestro, PlanWrite Expert, Up Your Cash Flow
Platinum and PlanGuru. All have forecasting and narrative capabilities, but their levels
of automation and expert analyses vary.
Business Plan Pro 2002
Business Plan Pro 2002 provides for business plan
development, presentation and implementation, with a focus on making the process as easy
as possible.
The Web site also has a Q&A section with experts with
more than 1,200 searchable entries that can help business owners understand key concepts
or specifics about their industries. A free 90-day subscription to liveplan.com is
included with the software.
PlanWrite Expert Edition 5.0
This product goes far beyond the development of the
business plan. It focuses on two business planning areas: building the plan and analyzing
its viability.
Business Resource Software Inc. also provides Internet
access to a regularly maintained list of relevant, business planning information. Topics
include information through case histories, venture capital sources, small business
support groups, marketing and sales, government resources, tax considerations, industry
information, economics, patents, trademarks and copyrights.
PlanGuru
New Horizons Technologies is familiar with accounting
firms. Company founders Ed Wielage and Sally Sprankle previously developed the Workpapers
Plus trial balance application, which is now a Creative Solutions product.
A QuickBooks/Peachtree import utility reads client
information directly from those two popular low-end accounting applications. This optional
module supports other general ledger applications with its features for importing
information form Excel spreadsheets and ASCII text files.
Budget Maestro
Planet Corp.'s slogan for Budget Maestro is "Stay On
Top Of Your Bottom Line." So, of course the product focuses on the budgeting process.
Budget Maestro lets you collect historical and other information, build a plan (budget)
and then, on a continuous basis, compare the plan to actual business results.
The subjects are supported by instructions and comments
about needed content. Budget Maestro has an extensive set of pre-defined reports that can
be customized. The system also features integrated charting features.
BizPlanBuilder Interactive 8.0
BizPlanBuilder features a new interface and five different
types of business plans that users can shape to the specific needs of clients' businesses,
including Concept, Service (for sole-proprietor/service), Retail (for storefront or
in-home businesses), Product (for new inventions, product-based and manufacturing
businesses) and an Internet plan (for Internet-based businesses).
BizPlanBuilder includes a complimentary book, "If
You're Clueless About Accounting & Finance," with information on the financial
aspects of planning, starting and managing a business.
Up Your Cash Flow Platinum
Up Your Cash Flow Platinum is a sophisticated, yet
easy-to-use tool that is ideal for creating projections for management, financing, budgets
or any other occasion where business projections are needed. It looks at cash flow as the
critical element in the business planning process.
For accounting firms that are interested in promoting Up
Your Cash Flow to clients, Granville Publishing has a reseller program, and it sponsors a
consultants network of accounting firms, which provides members with referrals, software,
training and other incentives.
Package Pricing:
Business Plan Pro
Price: $99.95.
PlanWrite Expert Edition 5.0
Price: $229.95.
PlanGuru
Price: PlanGuru Professional $99.95; Engagement Tool $49.95;
QuickBooks/Peachtree Import Utility
Price: $39.95.
Budget Maestro
Price: Budget Maestro Version 3.31; Budget Maestro Cost Center (Single user, expense
budgeting only) $495;
Budget Maestro Desktop Edition
(Single user) $1,295.
Budget Maestro Enterprise Edition
(Single user) $2,695.
BizPlanBuilder Interactive 8.0
Price: $99.95.
Up Your Cash Flow Platinum
Price: $895.00.
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