On the face of it, the dynamic world of social media and the traditionally conservative, structured world of accountancy seem poles apart. Tweeting, sharing multimedia content and collaborating online hardly sound like features that would add value for figure-hungry clients or the firms that serve them. While David discusses the use of these tools in a professional networking sense, we must not ignore the potential benefit sites like Twitter and Facebook hold for business engagement and client collaboration to generate a value-added service.
Just as the public is now being given more rights to information in their medical records, and can easily look up their credit rating, or bank/retail account status, clients of accounting services are demanding greater, more flexible access to their own business information.
Information services provision is now a product business, like any other. The knowledge that accountancy firms hold about their clients is of no value to anyone but the given customer, so they have nothing to gain by keeping this information locked up. By sharing it with the client, on the other hand, the firm has an opportunity to enrich the client relationship and promote additional services.
The investment required is minimal – simple iPhone or Android apps to provide information snapshots to clients’ mobile devices are easy to get up and running, allowing clients to see at a glance which invoices are outstanding, and so on.
To deny such content to clients who are now so accustomed to information freedom in just about every other aspect of their working and personal lives is to deprive them of full control over their businesses. In a fiercely competitive global market, what kind of service is that?
On the face of it, the dynamic world of social media and the traditionally conservative, structured world of accountancy seem poles apart. Tweeting, sharing multimedia content and collaborating online hardly sound like features that would add value for figure-hungry clients or the firms that serve them.
But just as the public is now being given more rights to information in their medical records, and can easily look up their credit rating, or bank/retail account status, clients of accounting services are demanding greater, more flexible access to their own business information.
Information services provision is now a product business, like any other. The knowledge that accountancy firms hold about their clients is of no value to anyone but the given customer, so they have nothing to gain by keeping this information locked up. By sharing it with the client, on the other hand, the firm has an opportunity to enrich the client relationship and promote additional services.
The investment required is minimal – simple iPhone or Android apps to provide information snapshots to clients’ mobile devices are easy to get up and running, allowing clients to see at a glance which invoices are outstanding, and so on.
To deny such content to clients who are now so accustomed to information freedom in just about every other aspect of their working and personal lives is to deprive them of full control over their businesses. In a fiercely competitive global market, what kind of service is that?
My answers
Turning the rules of doing business upside down
On the face of it, the dynamic world of social media and the traditionally conservative, structured world of accountancy seem poles apart. Tweeting, sharing multimedia content and collaborating online hardly sound like features that would add value for figure-hungry clients or the firms that serve them. While David discusses the use of these tools in a professional networking sense, we must not ignore the potential benefit sites like Twitter and Facebook hold for business engagement and client collaboration to generate a value-added service.
Just as the public is now being given more rights to information in their medical records, and can easily look up their credit rating, or bank/retail account status, clients of accounting services are demanding greater, more flexible access to their own business information.
Information services provision is now a product business, like any other. The knowledge that accountancy firms hold about their clients is of no value to anyone but the given customer, so they have nothing to gain by keeping this information locked up. By sharing it with the client, on the other hand, the firm has an opportunity to enrich the client relationship and promote additional services.
The investment required is minimal – simple iPhone or Android apps to provide information snapshots to clients’ mobile devices are easy to get up and running, allowing clients to see at a glance which invoices are outstanding, and so on.
To deny such content to clients who are now so accustomed to information freedom in just about every other aspect of their working and personal lives is to deprive them of full control over their businesses. In a fiercely competitive global market, what kind of service is that?
Kevin McLoughlin
UK Country Manager
Twinfield
www.twinfield.co.uk
Changing the game
On the face of it, the dynamic world of social media and the traditionally conservative, structured world of accountancy seem poles apart. Tweeting, sharing multimedia content and collaborating online hardly sound like features that would add value for figure-hungry clients or the firms that serve them.
But just as the public is now being given more rights to information in their medical records, and can easily look up their credit rating, or bank/retail account status, clients of accounting services are demanding greater, more flexible access to their own business information.
Information services provision is now a product business, like any other. The knowledge that accountancy firms hold about their clients is of no value to anyone but the given customer, so they have nothing to gain by keeping this information locked up. By sharing it with the client, on the other hand, the firm has an opportunity to enrich the client relationship and promote additional services.
The investment required is minimal – simple iPhone or Android apps to provide information snapshots to clients’ mobile devices are easy to get up and running, allowing clients to see at a glance which invoices are outstanding, and so on.
To deny such content to clients who are now so accustomed to information freedom in just about every other aspect of their working and personal lives is to deprive them of full control over their businesses. In a fiercely competitive global market, what kind of service is that?
Kevin McLoughlin
UK Country Manager
Twinfield
www.twinfield.co.uk