Become the trusted accountant, not the one drowning in admin

The role of the accountant is changing. With times tough and pockets squeezed, people want to be able to confide in their accountants for financial advice, and quickly. Whether it’s remuneration and tax planning or cash flow forecasting and budgeting, it’s crucial to be able to turn to a trusted accountant for advice. 

But this can only happen if accountants have the time. If they are drowning in admin, becoming a trusted and available advisor is much more challenging. This is where technology has a role to play, taking the hefty load and allowing accountants to focus on what really matters.

Become the trusted financial advisor 

The balance of admin and the importance of relationships continues to shift towards the advisory position. To set yourself apart as a more forward thinking  accountant, you need the time to make these changes.

Depending on your personal level of love for all things admin, taking on the challenges of an advisor will likely be much more rewarding than the admin tasks most dread. Not only this, it will also set you apart from other firms, bringing about more avenues to the business. All of these additional benefits will bring added value, and help both the client succeed, as well as your work. Find the balance and use this time wisely.

Additionally, by becoming the advisor people turn to will create a sense of fulfilment and improve your wellbeing. With many accountants unfortunately suffering with burnout, wellbeing is even more important. However, by managing time and changing the balance of manual tasks,  you can provide this service for clients without drowning in workload. To reap these rewards, you need to take on the challenge of breaking the cycle. 

Develop meaningful client relationships

To build the role of the trusted advisor, developing relationships with clients is crucial. With days filling up with long administrative tasks, client contact can sometimes fall behind. A recent survey  found that 39% of accountants spend over half of their day on manual tasks.However, there are changes that can easily be made to build these bridges.

To really build relationships, you need time. If you spend more of your working life helping clients and providing them with meaningful advice, relationships will undoubtedly form. For these to take shape you also need to be providing strategic advice and taking time to really understand your client’s needs. Speaking to clients about how they can use their data, instead of spending hours collecting, it will build upon these relationships.

As well as this, with each client relationship that develops, the word will spread and your business will organically develop through word of mouth. For people to know how knowledgeable accountants really are, they need to see it to believe it. Really take the time to understand their goals and help them towards a larger goal. Going beyond discussing the expected financial figures, chatting through an idea on the phone, or meeting to discuss a business plan will build upon relationships for the better.

So, take the time to share your insights of businesses and the industry to provide reassuring and helpful insights to put clients at ease. This will, in turn, continue to expand your business and shape meaningful client relationships.

Take on tech to free up valuable time

 These ideas are all well and said but for change to really happen, time is a non-negotiable. The best way for getting time back, is to automate your accounting processes, allowing tech to take on the manual tasks so you don’t have to. 

Technology can help to remove manual processes, freeing up time and ensuring that clients are happy. If they are well informed, it will only improve the relationship. A recent survey found nearly a third of accountants don’t have the tools to make these changes, operating  without automated processes. Digitalising the accounting workflow will provide more data to share with clients that will help them shape their goals.  Additionally, if you continue to provide manual data, it is hard for your business to develop. For this to really evolve, technology is vital.  

Accounting no longer needs to be solely focused on numbers, and for those who find this part more challenging, technology and automating your workflow will change the way you work. However, technology doesn’t have to take over your role, it will only enhance it. So, take on tech to use your time how you want instead of drowning in manual admin.

The bottom line

Whether you are supporting a small business or providing reassurance to clients, becoming a reliable and trusted accountant will change the way you take on the role. The best way to start is to take on your accounting digital transformation and free up the time to reach out to clients.