Ignition, an all-in-one platform for professional services to get paid faster and run smarter, has launched a new pricing enhancement. This latest addition equips accounting and tax professionals with the tools they need to improve profitability and put an end to underselling their services.

The new price increase capability enables Ignition customers to automatically apply percentage-based price increases when renewing annual client engagements, all in just a few clicks. This innovation not only fuels revenue growth but also helps offset the rising costs of doing business.

Dane Thomas, Co-Founder and Chief Product Officer at Ignition, emphasized the significance of this release: “We know that many firm owners put off increasing prices to avoid awkward client conversations, so this new feature helps take the emotion out of the process.

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“Ignition customers can now automatically apply a price increase when renewing client proposals, which means more revenue, improved profitability, and a streamlined workflow. This is the first of many new capabilities to enable accountants and professional services businesses to price their services more effectively.”

Ignition data reveals that customers increased prices by an impressive 10% on average in the past year.

David Thomson, Ignition customer and Partner, Certus Group Accountants welcomed the new feature addition: “Price reviews routinely get forgotten. So it’s brilliant that Ignition will prompt me to put up our fees in line with our new pricing policy. No more leaving money on the table!”

In conjunction with the price increase capability, Ignition also introduced the 2023 US Tax Services Pricing Benchmark, drawing upon its extensive product data. The benchmark delivers invaluable insights to tax professionals, enabling them to set competitive pricing strategies for the upcoming tax season and avoid underselling their services.

It reveals the average service prices determined by Ignition’s product data:

Individual Income Tax Return (1040): $655
Corporation Income Tax Return (1120c): $1,562
Income Tax Return for an S Corporation (1120s): $1,255
Return of Partnership Income (1065): $1,345
Tax Exempt Organizational Business Income Tax Return (990): $978

Matt Kanas, Managing Director, AMER at Ignition, says; “We know it can be challenging for accounting professionals to price services and charge appropriately for their expertise in a competitive landscape. We’re making it easier to price effectively this tax season by taking the guesswork out of updating pricing with our price benchmark.

“Combined with Ignition’s best practice tax proposal templates and service library, this helps ensure tax season will run as smoothly and profitably as possible.”

Recently, Ignition initiated the #CallForChange movement, endorsed by more than 100 accounting leaders, urging accountants to stop underselling and reclaim the profitability of the profession. The Ignition platform offers comprehensive support to accounting and tax professionals through their busiest times, providing an all-in-one solution to engage clients, automate billing and payments, and effectively price, sell, and get paid for their services.

Firm Management