# What successful accounting looks like in the age of the consumer
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-01
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Strengthening Client Relationships in the Accounting Sector
Meta Description: Discover how the pathway to competitive advantage in the accounting sector lies in building high-quality client engagement and using products and services as
URL: https://financedigest.com/what-successful-accounting-looks-like-in-the-age-of-the-consumerhtml

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![Emma Crawford-Falekaono, Managing Director, EMEA at Ignition](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/emma-crawford-falekaono-450x448-1736814944802-compressed.jpg)

_By_ **_Emma Crawford-Falekaono,_** _Managing Director, EMEA at_ [_Ignition_](https://protect-eu.mimecast.com/s/ooeSCK8lKf8l7nvF2bNc5?domain=ignitionapp.com/)

The accounting sector, like many other service sectors, is built upon a foundation of successful client relationships. After all, without a solid reputation to tap into, accounting businesses would struggle to gain a competitive edge in the professional services marketplace.

And yet accountants and bookkeepers still buy into the notion that products and [services are their main selling point](https://www.financedigest.com/service-the-cfo-why-context-is-worth-80-iq-points.html "Service & The CFO: Why Context Is Worth 80 IQ Points"), rather than the full benefits which they offer. The reality, of course, is that the path to true competitive advantage and parity in today’s market is through offering a high-quality customer centric engagement – and then using [products and services to boost](https://www.financedigest.com/4-tips-for-creating-a-calm-workspace-to-boost-productivity.html "4 tips for creating a calm workspace to boost productivity") this.

With that in mind, this piece will look at the critical nature of client relationships, how accountants can engage with clients in the right way, and the solutions that can be put in place to streamline processes, save time, and ultimately put firms on a better footing for future [success for both them and their customers](https://www.financedigest.com/lumen-research-expand-us-operations-with-key-sales-and-customer-success-hires.html "Lumen Research expand US operations with key sales and customer success hires").

**The importance of** [client relationships](https://www.financedigest.com/new-global-relationship-between-reckon-software-and-myfirmsapp-delivers-closer-interaction-between-accountants-and-their-clients.html "NEW GLOBAL RELATIONSHIP BETWEEN RECKON SOFTWARE AND MYFIRMSAPP DELIVERS CLOSER INTERACTION BETWEEN ACCOUNTANTS AND THEIR CLIENTS")

[Customer experience](https://www.financedigest.com/why-transforming-the-back-office-is-key-to-customer-experience-success-in-financial-services.html "Why Transforming the Back-Office is Key to Customer Experience Success in Financial Services") sits at the core of all businesses. For that reason, when looking to improve experiences for their clients, accountants [need to make sure](https://www.financedigest.com/need-additional-funding-but-not-sure-how-to-go-about-it.html "Need additional funding but not sure how to go about it?") they’re considering the end user at every point in the journey. They must recognise that deadlines are not just one stakeholder deep – but are likely in place because of that stakeholder’s own [customer needs](https://www.financedigest.com/3-reasons-your-business-needs-customer-reviews.html "3 reasons your business needs customer reviews").

To help manage expectations, there are three essential rules of thumb to remember: establish a clear objective from the outset; manage [client work against team](https://www.financedigest.com/the-digital-voice-appointed-by-raft-of-new-clients-as-its-team-expands-by-270.html "The Digital Voice™ appointed by raft of new clients as its team expands by 270%") capacity; and communicate early and honestly.

The first [rule involves being clear](https://www.financedigest.com/crypto-firms-will-develop-offshore-without-clear-us-rules-coinbase-chief-says.html "Crypto firms will develop ‘offshore’ without clear US rules, Coinbase chief says") about the specific goal that the client wants to achieve and how the accountant as an advisor can support them. The advisor-client relationship [needs to be built on a strong foundation to succeed](https://www.financedigest.com/top-5-seo-services-you-need-to-succeed-in-2022.html "Top 5 SEO Services You Need To Succeed In 2022"), so even before the client signs the engagement, it’s important to decide if the client is the right fit based for the relationship to succeed, and the relationship works both ways. There will be cases where advisors know they cannot support a client for a particular reason and they should be clear with them here, but also offer a helpful suggestion of who else might be able to help – either internally or externally.

Secondly, advisors need to effectively manage client work against team capacity as the [Microsoft Work Trend Index](https://www.microsoft.com/en-us/worklab/work-trend-index/) reveals that the time spent in meetings has increased by over 252% since February 2020. As a result there is more pressure to get [work done in the remaining hours of the day](https://www.financedigest.com/no-more-five-working-days-how-getting-paid-immediately-can-transform-black-friday-for-merchants.html "No more ‘five working days’ – how getting paid immediately can transform Black Friday for merchants").

Talent shortages in the accountancy sector have made this all the more challenging by adding  more pressure  – 74% of firms said [in a survey](https://www.iris.co.uk/blog/accountancy/is-the-great-resignation-the-biggest-obstacle-for-accountants-in-2022/) that they were feeling the strain from a lack of skilled workers. To work towards resolving this, [accountancy firms can make sure they’re providing their people with the right applications and software to automate](https://www.financedigest.com/being-nimble-and-responsive-in-banking-and-business-has-arrived-thanks-to-accounting-automation-technologies.html "Being Nimble and Responsive in Banking and Business Has Arrived, Thanks to Accounting Automation Technologies") repetitive time-consuming tasks. Giving employees helpful tools to carry out their [jobs will make them happier](https://www.financedigest.com/bridging-jobs-could-make-retirement-happier-research-finds.html "‘Bridging’ jobs could make retirement happier, research finds") and more optimistic in their roles, creating more time for them to expand on and develop their skillsets.

With accountancy companies facing staff shortages, they [need to be extra careful to ensure that they can keep up with client demands and not leave them disappointed – and making sure employees](https://www.financedigest.com/5-key-things-you-need-to-know-before-hiring-your-first-employee.html "5 Key Things You Need to Know Before Hiring Your First Employee") are kept happy and supported is the first step in achieving this.

Finally, [accountants should communicate with clients](https://www.financedigest.com/iris-acquisition-enables-accountants-to-add-greater-value-to-their-clients.html "IRIS acquisition enables accountants to add greater value to their clients") early and honestly to clarify the scope of work so they can be clear on expectations from the onset. In fact, Ignition’s [2022 State of Client Engagement](https://www.ignitionapp.com/state-of-client-engagement-uk) survey found that 90% of UK accountants and bookkeepers have encountered an awkward client situation, which can be down to chasing late payments or advising clients that the work they have requested is out of the agreed scope.

To avoid this, advisors [must be transparent](https://www.financedigest.com/2016-must-be-the-year-of-board-level-transparency-and-good-governance.html "2016 must be the year of board level transparency and good governance") from the beginning of the client engagement process to ensure they are providing an honest and valuable service.

**Engaging in the right way**

Professional disputes can ruin client relationships, but they can be prevented by communicating with clients in the right way. Part of this involves unpacking the responsibilities of both parties. Accountants should outline their scope of services, project timeframes and commensurate remuneration agreements with clients before starting any work with them. What’s more, they should also be clear on what they expect clients to provide them with so that they can do the best job possible.

Clarity and transparency are [building blocks in the trusted advisor](https://www.financedigest.com/reckon-one-builds-momentum-with-strong-backing-from-accountants-joining-the-cloud-advisor-programme.html "Reckon One builds momentum with strong backing from accountants joining the Cloud Advisor Programme") relationship. Sometimes clients might be going through a difficult time and will not divulge information. In that situation, the role of the [advisor is to open channels of communication](https://www.financedigest.com/how-mifid-ii-will-impact-financial-advisor-communications.html "HOW MIFID II WILL IMPACT FINANCIAL ADVISOR COMMUNICATIONS") with the client. They should ask further questions when things are unclear to ensure that the client’s ultimate objectives are achieved. In many cases, the [accountant is the only person who the client is willing to share](https://www.financedigest.com/the-sharing-economy-whats-in-it-for-accountants.html "THE SHARING ECONOMY: WHAT’S IN IT FOR ACCOUNTANTS?") their most sensitive business information with, and accountants should feel confident taking this role on.

[Automating processes](https://www.financedigest.com/how-process-automation-increases-productivity-in-the-insurance-sector-while-giving-employees-room-for-more-high-value-activity.html "How Process Automation increases productivity in the insurance sector while giving employees room for more high value activity") can also improve engagement by freeing up advisors time to focus on the things that matter to clients. According to [Ignition’s latest research](https://www.ignitionapp.com/state-of-client-engagement-uk), 31% of accountants address awkward client situations but then absorb the increased time and costs themselves. Tasks such as proposals, engagement letters and payments can and should be automated, ensuring that instead, advisors can use their time to provide counsel to clients on the issues that are important to them.

**Challenges and the solution**

[Accountants and professional services advisors can sometimes be prevented from being at the coalface of their clients’ businesses](https://www.financedigest.com/5-simple-ways-to-prevent-a-data-breach-from-putting-your-accountancy-practice-out-of-business.html "5 Simple ways to prevent a data breach from putting your accountancy practice out of business") due to capacity issues, despite the desire to be integrated into every customers’ business. Therefore they sometimes lack a thorough grasp of their clients’ wants and needs. To combat this, accountants and bookkeepers should create a centralised system of knowledge to provide good [customer service](https://www.financedigest.com/how-customer-services-has-changed-during-covid.html "How Customer Services Has Changed During Covid"), such as examples of best practice and previous interactions with customers.

This knowledge repository of client information is also useful for accountants, such as information on internal briefings, conversations, and internal communications. If information is not centrally located, then [errors can be made](https://www.financedigest.com/djokovic-confirms-error-made-on-australian-travel-entry-form.html "Djokovic confirms error made on Australian travel entry form") in client communications and they cannot be serviced in the best way possible.

It is particularly useful to have a client history on file, with information such as the previous services that a client has used, previous complaints and the timeline expectation for services. Investing in a Customer Relationship Management (CRM) system is one of the best ways to do this, as they allow better access to [data and integrate across key](https://www.financedigest.com/sterling-edges-lower-ahead-of-key-data.html "Sterling edges lower ahead of key data") business systems. By fully utilising centrally located client information, accountants can maximise the quality of their [service delivery](https://www.financedigest.com/online-food-delivery-services-market-will-reach-a-valuation-of-over-us-4212-6-mn-towards-2029-end-fmi.html "Online Food Delivery Services Market will Reach a Valuation of over US$ 4,212.6 Mn towards 2029-end: FMI").

Accountants should, first and foremost, remember that their [businesses benefit](https://www.financedigest.com/5-ways-cfo-and-cio-collaboration-can-benefit-the-business.html "5 Ways CFO and CIO collaboration can benefit the business") because of the goodwill of clients who trust them to be their advisors. When it comes to engaging with clients in the right way, accountants should remember to follow the above steps to always be on the front foot – rather than risk losing clients because they didn’t [provide a best-in-class service](https://www.financedigest.com/high-energy-shockwave-therapy-units-market-end-user-demand-by-types-regions-top-players-service-provides-regional-outlook-and-forecast-to-2028.html "High Energy Shockwave Therapy Units Market End-User Demand by Types, Regions, Top Players, Service Provides, Regional Outlook and Forecast to 2028").


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