Imagine there are two accounting firms and they both have the same client. Now take a moment to envision a brick wall, with the client on one side and Firm A on the other side. The engagement process begins, and the 1st thing that’s needed is the PBC listing. The client crumbles up their PBC listing, takes a step back, and shoots it over the brick wall to Firm A. “Did you get it yet?” is shouted over the wall as important documents are sent back and forth throughout the engagement process. Sounds like an instant headache. This tedious and inefficient way of communicating and collaborating with clients is the way firms are currently operating. Still, using email and community file rooms to collaborate with clients? If so, you’re operating across a barrier comparable to the brick wall mentioned above.
But, it doesn’t have to be like this. Imagine instead a glass wall separating Firm B and that same client. There are no crumbled balls of paper, no shouting, and you can see and anticipate their movements. Simply hold the file up to the glass, and give a thumbs up or thumbs down to let the client know they sent over the right document. Important deadlines are posted on the glass wall, visible to everyone on the team, allowing them to work together to finish the engagement on time. Now it doesn’t take a rocket scientist to know which firm is providing better methods of communication and collaboration with their clients. Luckily, every firm can provide the glass wall experience to their clients with the use of engagement management software like Notis.
Here’s How to Provide Transparency:
Transparency between firms and their clients can be achieved through engagement management software. Accounting software replaces ineffective communication and collaboration methods like email and community file rooms. Email and community file rooms don’t provide transparency and in fact, they usually do the exact opposite. They create an opaque environment causing confusion, clutter, and misplaced information. If you want to leave your clients in the dark you can stop reading now, but if you want to provide them clarity I suggest you continue.
Let’s take a look into Notis which is an engagement management software. Notis provides full transparency between accounting firms and their clients from the beginning of an engagement to the end. With a separate but connected client portal, firm clients have access to many of the same features that firm staff have. The biggest advantage that Notis provides is its one-of-a-kind Task Management suites. These suites house all communication, client documents, and firm reports. Each task line is designated to specific documentation, so clients know exactly what to upload and where to put it. Firms can set due dates and priority levels keeping themselves and their clients on a schedule to finish the engagement on time. The transparency provided by Notis is both beneficial to firms and their clients, keeping them on the same page at all times.
Why is Transparency Important?
Transparency is a key way to strengthen relationships between your organization and your clients. In a study done by Sprout Social, in a sample size of 1,000 US consumers, it was discovered that almost 9 out of 10 Americans believe transparency from businesses is more important than ever before. Transparency is the foundation for a successful business and long-lasting relationships.
Transparency also breeds accountability which is important in the accounting industry where there are constant deadlines. In Notis, clients can track the progress of their engagements just like logistics used to track packages. Clients will know what phase the engagement is in, leaving the guesswork out of the equation.
Don’t be Afraid of the Glass Wall
As a firm, you ultimately can provide top-tier service to your clients by providing them a little insight into the work you’re doing for them. Yet most companies are afraid of letting their clients know what they’re doing. This fear may be exactly what’s holding you back from landing a new client, or it could drive your existing clients to seek services elsewhere. Providing transparent methods of communication and collaboration is a way to keep your clients informed, their documents organized, and communication clear. If you’re looking for the key to fostering life-long relationships with your clients, you may have just found the answer.
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