Cameron John from Silverfin spoke to Will Farnell of App Advisory Plus about how Silverfin are facilitating more app advisory conversations through data insights. Watch the full webinar here.

“The problem a lot of firms have is that they have multiple data sets of client information, so there is not a single source of truth. Among other things this makes it difficult to do marketing activity properly.” – Will Farnell

Silverfin provides accountants with a consolidated single source of client data, and empowers accountants with preset data analytics that can be used across the whole client base. For instance being able to instantly generate a report which shows clients with decreasing cash balances against increasing debtor days, or cash balances compared to bank loans, or directors loan accounts > £10,000.

“We can only have conversations if we actually speak to our clients, so contact on a regular basis is key starting point. Taking this up to advisory conversations is only possible with good information, so insight into data enables us to have client conversations we couldn’t normally have. ” – Will Farnell

“If we have to go into every bookkeeping file and review to understand trends and triggers to have a conversation, the cost-benefit makes it more difficult to do profitably. Silverfin allows us to identify the trigger for having a conversation very quickly” – Will Farnell

Client Insights in Silverfin makes it really easy to start opening up dialogue with clients about what their problems are and that then becomes your lead generator to either:

  • Offer more services internally, such as bookkeeping or outsourced finance function,
  • Talk to them about how technology might be able to help solve some of their problems.

“By having a consolidated single source of client data in the Silverfin platform it allows Accountants to analyse across their entire portfolio. With data consolidated from clients at a transactional level, all analysis is possible in the platform, including data-meshing with non-financial data. If it can be captured in a Silverfin template the insights engine in Silverfin enables analysis and comparison in order to alert the Accountant with opportunities to present to their clients for advisory and manage risks.” – Cameron John

Silverfin have waived their setup and configuration fee for App Advisory Plus members.  Find out how Silverfin can benefit your practice by booking a demo.

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