Staying on Top of the Trends
Source: CPA Trendlines
The following includes excerpts, reproduced with permission, from an article by Dustin Lubertazzi.
With the changing technological landscape, what must accountants do to stay competitive?
1) Increase Value-Add Services to Retain Clients – Compliance work is getting more and more standardized and streamlined due to technological advances. If you can shift time and resources from these commoditized services, you can focus more on becoming an indispensible advisor. Balancing compliance work and helping clients make strategic decisions to protect and grow their business is the role of the accountant for the foreseeable future.
2) Differentiate Your Firm – It is normal now for the buying process to begin online. What makes your firm different from firms listed ahead of yours in search results? Do something to stand out when speaking with prospects and prospects will spread the word. For the initial meeting, familiarize yourself with their industry, provide something more to take home than your marketing brochure, and follow up with a handwritten thank you note.
3) Build an Online Presence – If prospective clients start their buying process online, it is important for your firm to be among search engine results. That is difficult, though, if your firm does not maintain a website. According to the 2010 AICPA MAP Survey, 33 percent of CPA firms still don't have an active site.
4) Be Conscious of Your Clients' Time (or Lack Thereof) – Technology can help:
- Make file transmission less of a hassle by giving clients the ability to connect with you online through a client portal.
- Provide detailed information on your services through your website, so prospects and clients can easily find what they are looking for.
- Stay in touch with them proactively; consider sending out an electronic client newsletter or other regular electronic correspondence.
For the complete article, read “Technology Raises the Bar: Four Things Accountants Must Do to Keep Up.”
From CPA Trendlines, http://cpatrendlines.com, April 21, 2011.