Can transparency transform your reputation?

The traditional accounting business model, one based on reputation and years of service to a core group of clients is changing. Market forces and the economic climate have led to cuts in client budgets meaning that accountants need to do more with less and prove the value of every hour billed. Additionally, if engagements are not delivered on time or on budget, clients are less likely to hesitate before taking their business elsewhere.  

Accounting firms need to be agile to keep up in this fast-paced, lean environment. Often this can be done by altering work processes so that you have up to-the-minute, fact-based information to hand to help inform clients of project progress and budget vs activity completed. This will allow you to hold transparent conversations about activity levels and will make for more solid, positive relationships with clients – ones grounded in the facts rather than on reputation and instinct alone.

An ERP solution will help you to streamline reporting processes so that you have a clear insight into all vital client information – service levels, resource and progress – and allow you to have this data to hand when you most need it.

If you are already considering this transparent, facts based approach to client engagement you will have already noticed the benefits to your business in the long term and how it helps to enhance the client relationship and improve client retention rates.