Are you worried about being the accountant your clients need?
The world of the accountant is changing. The rampant rise of technology is redefining how accountants and clients work together. Whether it’s working remotely, using new and innovative technology or communicating with colleagues simultaneously from across the globe, your clients are changing the way they work. Not only that, their expectations of you, as their accountant are also changing. The International Federation of Accountants found that 93% of small business owners now value accountants as their source of business advice1 so it’s of paramount importance that accountants are serving their clients in the right ways.
We’ve pinpointed seven of the most important things that clients are looking for from their accountant today, and we give you some helpful tips on how to meet their expectations and go above and beyond.
- Clients are searching for advisors who understand change
Accountants should understand that today’s wave of entrepreneurs, particularly millennials, are going into business for different reasons compared to previous generations. These changing aspirations need to be met by a change of approach from accountants – to move away from traditional accounting services and to begin providing more advice-based, consultative services. Listening to our customer’s needs, we’ve found that a major reason clients leave their accountants is because of a lack of proactive advice.
Accountants need to recognize the changing aspirations of their clients and reflect this in their communication with them. Connecting with your clients on a weekly basis, particularly through time-saving innovations such as cloud-based technology is an easy way to keep on
top of your clients’ needs effectively.
- Clients want advisors who are experts in their industry
Moving away from traditional tax and compliance services, research has found that clients would prefer their accountant to be a specialist in their industry. One simple step to achieving this is by first establishing, and then easily keeping track of your clients’ goals. For example, many cloud accounting tools will allow you to set Key Performance Indicators (KPIs) with your clients that can be accessed at any time on any device.
- Clients need their accountantsto keep pace with technology
Our research has found that 62% of young entrepreneurs claim that despite technology constantly evolving, they don’t worry about keeping up4. Their accountants should share this outlook. One way for you to keep pace with technology is to always be looking
‘over the horizon’ and keep on the lookout for technology that could be redefining the profession.
Your clients want a well-rounded, more consultative service. To help give them what they want, you need to be available to your clients when they need you, so you can provide important services in the moment and make crucial decisions together. Cloud-based accounting solutions offer exactly that.
Read our entire post to prepare yourself for the new era of the accountant because Not only should you have the right tools to help your clients, you should be looked after too. With solutions ranging from innovative chatbots that help you keep track of your clients’ financials, to accountant networks and partner programs that help you maintain and grow your client base.
You may also like to Read: 5 Reasons to Move to the Cloud