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The Value of Data Within The Accountant/SME Client Relationship

Accounting firms are in a privileged position with the amount of valuable data that they have access to. Practice management, client ledger, and tax related data presents exciting opportunities to extract value through data mining, analytics and exception reporting. The role of the trusted advisor is strengthened by providing proactive real-time advice, for example intervention when performance drops below an agreed threshold, data indicates liquidity issues, or clients risk breaching bank covenants.