Thomson Reuters Passes 250 Firm Milestone with Progressive Practice Forward Offering

Thomson Reuters is marking the 250^th firm to benefit from Practice Forward, an innovative program that guides firms through a business model transformational roadmap, culminating in a client service approach that is proactive, harnesses the unique expertise of the firm, and establishes the firm as their clients’ most trusted adviser.

Thomson Reuters Practice Forward has been available commercially for three years and was designed in collaboration with noted thought leader, speaker, and inventive practitioner Paul Miller, founder and managing partner of Business By Design, a firm in Edina, Minnesota. Practice Forward provides a market-proven and regimented program that helps firms maximize their growth potential by providing a combination of innovative and proven business model methodologies; technology leadership and profession expertise from Thomson Reuters; and content, instruction, and templates that smooth implementation across the firm.

The 250 firms that have chosen to reshape their future with Practice Forward share many of the same traits—a desire to provide clients with a more understandable way to view their money, net worth, and longer term goals, a drive to change the way clients view the value of their firm—from transactions about history, to forward-thinking and proactive measures—and a focus on offering and monetizing consultative services around tax efficiency, finance, and other business best practices.

“It’s becoming more and more of a necessity to develop tax strategies and to mitigate the consequences of taxes,” said Sean Berry, Owner, Mt. Hood Tax & Accounting Professionals. “Practice Forward has helped us progress toward more of the advisory services and be more focused on tax strategy and tax implementation of those strategies. In just a three month period of using Practice Forward, I’ve been able to double where we were as compared to last year, year to date.”

“It is great to see so many firms inspired by the vision and embracing the concepts and principles delivered with Practice Forward,” said Paul Miller, owner of Business By Design. “We have heard so many great transformation stories, and it has been very encouraging to see how many firms see the tremendous opportunity in our profession to change the way we show our value and engage with clients. A business model that combines elevated client satisfaction with increased firm revenue and profit is at the heart of Practice Forward.”

“We are energized by this important milestone, as Practice Forward is aligned with the paradigm shift in the Profession towards consultative, value-priced service offerings over and above the core compliance services a firm offers,” added Jon Baron, managing director of the Professional segment with the Tax & Accounting business of Thomson Reuters. “Practice Forward has provided us with fresh ideas for new technology tools to support practices offering business advisory services. Most importantly, practitioners’ stories of the positive impact and success they’ve experienced after going through the program is further confirmation of its value.”

Practice Forward members have access to a comprehensive set of services and resources, including access to the Practice Forward Central portal, with content and tools designed to help firms execute the Practice Forward concepts; consulting assistance; access to the Thomson Reuters Practice Forward online Community group, where members will find ongoing information, collaboration, and connection; invitations to Practice Forward Community webinars featuring profession thought leaders, which qualify for CPE credit; and an invitation to the in-person Practice Forward group meetings at the annual Thomson Reuters SYNERGY Users’ Conference.

For more information on Practice Forward, click here.