It’s a time of unprecedented change in the accounting industry.
The latest technologies like AI, machine learning, and robotic process automation are transforming the way we work, and next-generation tools like Inflo are putting them at accountants’ fingertips.
At first glance, the biggest benefit of these cutting-edge computing capabilities is being able to deliver higher quality outputs more efficiently.
And of course, these benefits can have a big impact on your firm’s bottom line.
However, I believe the improvements you can make to the client experience are by far and away the most important thing to focus on when it comes to implementing the latest technologies.
In the long run, this is going to have the biggest impact on your fee income for both new and existing clients.
Here’s why improving the client experience is so crucial to your firm’s success into the future:
Retain your existing clients
If you provide a continuously improving experience to your clients, it’s going to be easy to retain them. While clients traditionally don’t switch accountants very often, firms that don’t improve their service through the latest technology might get left behind in the next age of accounting.
Receive more work form your existing clients
If you continually improve the value you provide to your clients, they’re likely to send you more and more work. This puts you on the path to becoming their business advisor and an invaluable asset to their business.
Boost team morale
Your team wants to work with clients who appreciate their efforts. Improving the client experience and over delivering for your clients makes them happy, which has a knock-on effect on team morale.
Improve your reputation
If you build a reputation for over delivering, you’ll find it easier to find new clients and receive more inbound leads and referalls.
Software like Inflo is integral to providing an improved client experience. It allows you to:
- Reduce the amount of time and resources required on the client side, giving them an obvious and immediate benefit.
- Harness the power of other datasets for unique benchmarking.
- Provide innovative inputs that offer an insight into a client’s business they couldn’t get anywhere else.
Adding more value to your clients can take many forms – the key is using technology to implement a bespoke solution to each client’s unique situation.
And the latest accounting technologies are only a threat to accountants to those who hide away from the value it could add to their clients. Those who embrace it to improve the client experience will become valued business advisors that can expect to see an increase in income fees in the next age of accounting.
In fact, in our webinar on increasing fee income through technology, we reveal why the CFO of a client of an audit firm using Inflo volunteered to pay 20% more for their audit next year if they delivered the same value as they did in year one.
To take a deep dive into how to improve the client experience (and income fees) through the latest accounting technology, watch the webinar today.