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Episode 52: Data on Key Trends in Accounting with Kelly Platt

Episode 52: Data on Key Trends in Accounting with Kelly Platt

If you’re looking for data about key trends in the accounting profession, you won’t want to miss this episode with Kelly Platt, principal of Inside Public Accounting. Kelly publishes a number of reports on the profession that give CPAs and accountants insider information, advice and best practices across the United States, Mexico and Canada. Join host Hugh Duffy as he talks with Kelly about key data in marketing, growth, retention and yes, retirement. She talks about trends among the “Best of the Best” accounting firms as well as why benchmarking your firm – even every two years – can help your profitability and staff retention. Join us!

Guest Bio: Kelly Platt

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Kelly Platt, principal of INSIDE Public Accounting and an equity partner in The Platt Group, has worked within the profession since 1994 and has developed a deep understanding of the inner workings of professional services firms.

Kelly co-founded in 1999 with partner, Michael and together they grew the company’s U.S. division to more than 500,000 readers, until they sold it to take over INSIDE Public Accounting in 2006. Kelly directs aspects of INSIDE Public Accounting’s Annual Survey and Analysis of Firms and the monthly newsletter. In 2011, Kelly launched The PRIME Symposium, an annual two-day event, built around bringing together the best and brightest within the profession to not only share with the small group, but to offer IPA an insider view of what truly makes a Best of the Best firm. Kelly leads the business development area, including launching new services and products with the goal of assisting firms achieve their potential.

In her spare time, Kelly enjoys traveling, gardening and photography. She is active in the Golden Retriever Rescue Club ( in the Indianapolis area, and currently has the privilege of sharing her office with two rescue dogs. Kelly lives in a suburb of Indianapolis. Kelly is a member of AAM, CPAFMA and a Board Member of GRRACE.

Memorable Quotes

“CPAs love numbers and we give them plenty of numbers to crunch.”

“Culture plays a huge role in the success of a firm.”

“If you have a bunch of staff who don’t know how you make money, don’t understand where the firm is going, your profitability is going to be lower. We see this in the Best of the Best firms. They educate their staff.”

“It’s always baffled me that many staff, even in larger firms, may not even know how profitable their firms are – it’s a secret.”

“Sharing even basic data can really help with overall turnover and profitability.”

“The profession as a whole does a really poor job of educating staff across the board on how their firm is performing and sharing metrics to increase revenues.”

“I think when a firm has a deep market specialization and/or penetration say, an oil and gas [firm] in Texas, they are going to outshine other firms across the country.”