Financial consultants normally specialise in several fields ranging from financial services, management consulting, tax, accounting and more. With more firms using web based internet platforms they have the opportunity to branch out into other services, including business valuations. This helps consultants expand their offering and enables clients to get much more from the relationship.
Along with the changing business environment it has become more acceptable to use software platforms that are available on the internet, otherwise known as Software-as-a-Services or SaaS. There has been a tremendous increase in SaaS tools, which not only offer the ability to enhance consulting productivity but also present the opportunity to offer additional services to clients with other needs.
Accurate business valuations
One of these is the ability to perform accurate business valuations. Such valuations are core to business planning, tax consulting, and even in some cases accounting services. Accurate valuations are also key when decisions need to be made regarding the capitalisation of a business, potential B-BBEE deals or a change in the shareholding – due to retiring partners, new owner management or even embarking on an employee share scheme.
Succession planning, especially in family-owned businesses, also requires an accurate business valuation to ensure the appropriate tax and cash flow planning. Accurate fair value adjustments done at year-end and understanding what drives long-term value cannot be done without an accurate business valuation.
Traditionally, business valuations used to be a specialist service offered to larger businesses. However, with new technology this does not need to be the case anymore.
Worth.Business developed an online platform making it possible for financial consultants to perform credible business valuations easily and cost-effectively.
Empowering financial professionals
The vision to empower financial professionals to perform valuations for their clients is the driving force behind Worth.Business. This is made possible by an easy-to-use and credible business valuation tool, which enables anyone with the appropriate accounting background and experience to perform accurate business valuations for their clients.
This, in turn, adds revenue streams to their consulting practices and provides a great platform to have conversations about the value of their clients’ businesses, and how to help them drive that value in future.