Yeo & Yeo Wins LEA Global’s Innovation Award for YeoConsults Outsourced Business Solutions
Yeo & Yeo CPAs & Business Consultants was honored with the Leading Edge Alliance’s (LEA) prestigious Innovative Firm Initiative of the Year award for its bundled service packages called YeoConsults Business Solutions. The award was announced at the 2020 LEA Global World Conference in Las Vegas. Each year the LEA recognizes accounting firms for their cutting-edge innovations that differentiate LEA members from their competitors.
“It is an honor to be recognized by our peers for creating a unique way to offer outsourced solutions,” said Suzanne Lozano, Principal and Consulting Service Line Leader. “We are pleased with the results – particularly with how streamlining and centralizing our processes for outsourced services has optimized our business clients’ experience.”
The creation of YeoConsults began in 2017 when Yeo & Yeo’s back-office accounting and advisory solutions were re-strategized with three goals in mind. The first goal was to standardize outsourced services across nine office locations in Michigan to maximize efficiency and consistency in service delivery. Another goal was to identify additional consulting or other opportunities for the firm’s other companies (technology, wealth management, and medical billing and consulting). Finally, the new offerings were to be differentiated with branding that would cut through the competitive market for such services.
The firm identified an opportunity to create value-based pricing bundles for services it had already been providing as stand-alone engagements. Moving from hourly billing services to developing value-based pricing bundles required careful development and execution. The following year, the outcome was the introduction of a branded differentiator for bundled service packages called YeoConsults Business Solutions.
YeoConsults Business Solutions include YeoConsults Outsourced Accounting, YeoConsults Internal Controls, YeoConsults Payroll Solutions, and the YeoConsults Legacy Program, which includes measures to help business owners build long-term value in their companies and prepare for a transition.
Through these scalable, bundled product offerings, clients benefit from fixed fees for reliable and economical options tailored to their business needs, goals and budget. Clients also develop stronger personal relationships and engagement with their trusted advisor, who becomes an extended part of their team.
Yeo & Yeo has enjoyed success with these packaged services that draw on the strengths of all four of its companies. With outsourced solutions, business owners can spend less time on day-to-day functions, allowing them to spend more time growing their business.