This is a Guest Blog post by LiveFlow customers Terrell and Lola of TLTurner Group.
What if there was a way for you to create automated financial Dashboards that could help your firm generate additional revenue?
To just get right to the point, the answer is simply YES. When you combine LiveFlow + Google Data Studios, you can now create automated custom dashboards that clients are willing to pay for.
How to use LiveFlow + Google Data Studio and Increase Your Client Fees by 35%
Since we started creating dashboards of this nature, clients have reached out to us requesting these dashboards and paying prices ranging from $3,500 - $10,000.
This new tool has also attracted the attention of other fractional CFOs who have reached out to us asking if we could create a white-label version of this tool that they can use with their clients.
So how did this all start:
Early this year, one of our bookkeeping clients asked our firm if we could provide data visualizations and a financial dashboard for his company. At the time we had no options for doing this, so I started researching, and here were some of the challenges I found:
- We would have to purchase a new tool or new subscription service
- A new system implementation with manual data upload would be required
- Restrictions on if and how we could manipulate the structure of the visuals
- Limitations on data automation for updates and integrations
- 2-4 month learning curves for my team and I
- More friction for the client to be able to access the information
These hurdles definitely discouraged me from moving forward with those tools, so we kept searching until someone mentioned Google Data Studios. I spent about 15 minutes with a friend who had some experience with Google Data Studios, so he could give me a high-level overview. The overview was impressive so I spent 8 hours testing Google Data Studios and walked away with extraordinary excitement.
Google Data Studios provided the solutions that I needed for a custom data visualization and dashboarding tool and when I combined LiveFlow it now had all of the automation that I required. In one day I created a financial dashboard for my client and this helped us secure a new monthly CFO client because the client was so pleased with the simplicity and ease of use for his new financial dashboard like this:
So what are the major benefits of these dashboards:
- Google Data Studios is a FREE tool
- The dashboard utilized active dynamic filtering
- The scorecards have built-in variance analysis
- The charts were interactive with a drill-down function
- The dashboard is accessible on any computer or mobile device with an internet connection
- Most importantly, when you use LiveFlow updates synchronized with your Quickbooks account
So what is the big deal for your firm:
- Financial dashboarding and data visualization is a Client Advisory Service that clients are willing to pay extra for
- You can offer a new service that adds more value to your client's business
- LiveFlow allows you to automate your templates so you can easily get a new client up and running with limited effort
- Google Data Studio’s is a free tool, so you are creating incremental revenue with a low-cost, reliable tool
- Possible 35% increase to your monthly billings when clients choose to add this feature as a service
If you want to learn more and see me walk through some of the key features of the LiveFlow + Google Data Studio then check out this short webinar below. I explain how we use the tool to generate incremental revenue for the firm.
If you are interested in more great post like this or following our weekly show, “Stuff Your Accountant Isn’t Telling You” then follow me on LinkedIn.
Want to to try out LiveFlow too? Install it for your Google Sheets for free.
Still have questions? Get in touch at firstname.lastname@example.org or book a demo, we’d love to hear from you!