This analysis highlights one key area leading firms—those with high Practice Excellence scores—are focusing on: Management.

Focus area: Management

The Management competency in relation to Practice Excellence grades a firm’s proficiency in:

• Change management

• Talent management

• Organization management

• Client management

According to the 2022 Practice Excellence Report, an increased focus on Management has the greatest effect on propelling firms as they accelerate into each phase of Practice Excellence:

1. Traditional (bottom 25%)

2. Transitioning (25%-50%)

3. Expansion (50%-75%)

4. Leader (Top 25%)

This underscores the importance of strong leadership and management in a firm’s ability to successfully navigate change at key milestones in its lifecycle.

Low uptake of Management techniques, tools and strategies

From the 10 activities that have the strongest impact on Practice Excellence, 50% are related to Management. But usage behavior indicates that even though these activities are crucial for a firm’s success, they’re not widely used. For example, only 19% of accounting firms reported using the OKR goal setting framework.

This indicates a huge opportunity for accounting firms to boost their Practice Excellence scores—and their business proficiency—by leveraging accounting firm management techniques, tools and strategies.

Resources for enhancing your accounting firm’s Management

Below are a collection of resources designed to provide value in each of the Management competencies:

Change management

• Change management 101: How to confidently implement change at your accounting firm

• The 3 keys to navigating change in your accounting firm

• How to implement change when you don’t know where to start

Talent management

• Performance appraisals that will help your firm succeed

• Why employees are quitting your accounting firm (and how to stop them)

• The A-Team Playbook

Organization management

• 3 of the best ways to organize your firm’s process documentation

• Supercharge organization at your firm with these 3 core tools

• Finding alignment: why businesses succeed when workers engage in a common mission

Client management

• 3 tips to enhance customer service at your firm

• The Definitive Guide to Client Onboarding

• Client Experience Curve Mapping template

Maintain focus across all areas of Practice Excellence

Even though a focus on Management in your journey Practice Excellence is key, so too is your ability to avoid falling behind in Strategy, Growth and Efficiency.

Take the Practice Excellence Assessment or download the 2022 Practice Excellence Report to better-equip you to actualize your vision of your perfect accounting firm.