The acquisition of customers and loyalty depends a lot on the generation of value that your accounting company provides. It is the transformation that your business adds to the entrepreneur’s life.
With so many accounting firms vying for the public’s attention, differentiated delivery is required especially since the incorporation of technology has been driving the prices of compliance services downhill, with online accounting.
An accounting firm that remains limited to assisting its clients in legal compliance can easily be overcome by other companies offering a broader service – helping to manage their clients’ businesses. In addition, it is essential that there is a technological update to streamline and increase the quality of processes.
In the end, the goal of any accounting firm is to maximize its profitability and prosper in the market in the long run. However, to make more money, you need to generate more value for the customer. The big question is: how to put this into practice?
What is the value of an accounting firm?
The mission of the accounting entrepreneur is precisely to find out how to generate more value for his clients.
For traditional accounting, the value is in compliance. The entrepreneur hires an accounting firm to ensure that he does not have to worry about all of his organization’s accounting and tax obligations. Therefore, the accountant’s role is limited to observing and complying with legal requirements.
However, as we saw earlier, technology is changing the accounting market. With the help of new technologies, accounting client portal emerged – which manages to deliver the documents in a more practical and secure way.
The accounting entrepreneur who creates value for his clients only with compliance ends up falling into a price battle. After all, the client just wants to keep up his company accounting procedure smoothly, spending as little as possible.
Analyzing this context how is it possible to generate more value for your customers?
The answer lies in: “introducing new information technology services.”
We have already seen that Online Accounting uses technology to accelerate traditional Accounting processes and serve a larger number of customers. However, accounting client portal proposes to use these same technologies to save time and serve each customer with more attention.
Ryan Myers is a business blog author and writer. He graduated from the University of California, Berkeley in 2009 with a degree in Political Science. His favorite topics to write about are blogging for small businesses and becoming an entrepreneur.