CPA Practice Advisor - 42

BRIDGING THE GAP
DOES YOUR TECHNOLOGY MEET

CLIENT EXPECTATIONS?

WE'RE LIVING IN an era where every part of our daily lives is impacted by technology in
one way or another. We have numerous new methods of electronic communication and
seemingly endless options for home entertainment and improved technology that make
our homes more organized and secure. We can shop online any time of the day or night
from the comfort of our homes. We have increased accessibility to treatments for health
concerns and expanded access to information and education.
While we might not be aware of it,
we've come to expect greater automation of routine tasks and instant access
to information. Is your firm's technology meeting your clients' expectations?
Here are five areas to consider.

PAPER DOESN'T ADD VALUE
Too many firms - even those that call
themselves "paperless" - continue
to drown in a sea of paper, simply
because they continue to do things
the way they've always done them.
Part of it is a natural aversion to
change, but there's also a deep-rooted
belief that clients value the big stacks
of paper they mail out each year. Take
tax organizers: few firms actually
expect their clients to fill out paper
organizers, but they continue to mail
them, thinking it's an effective way
of reminding clients to start getting
their tax documents together, all while
keeping the firm top of mind.
In reality, your clients don't want
(or even look at) tax organizers. Many
are immediately tossed in the shredding pile, and the rest are returned,
blank and unsigned. Printed financial
statements, tax returns and other
deliverables suffer the same fate.
Most clients place more value on
timely information that is accessible
anytime, anywhere, from any device.

CLIENTS EXPECT
SELF-SERVICE
When was the last time you waited
in line at a bank to deposit a check?
Waited for a monthly bank statement
to arrive in the mail to balance your
checking account? Talked to someone

AUGUST 2019 ■

in a call center to determine when a
package would arrive? Booked airfare
with the help of a travel agent? For
most people, it's been years.
We've become accustomed to
using technology to access services
at any time, from any location at our
convenience, and we enjoy the ability to control the interaction much
more than is the case when we deal
with a live person. Self-service is the
expectation, and most people view it
as a value-add rather than a detractor.
Just remember that self-service
is not a replacement for relationship
building. Rather it allows your team to
focus on higher-order drivers of client
service.

CPA FIRMS ARE NOT UNIQUE
Time and time again, we hear leaders
of CPA firms claim they cannot take
advantage of tools for a digital client
experience because a CPA firm is
"unique" and its clients have different
needs. More often than not, this is an
excuse to avoid change. That avoidance holds your firm back from the
transformation required to remain
relevant and profitable.
CPA firms have more in common
with other businesses than they have
differences. Your clients use mobile
apps, online portals, digital signatures
and electronic delivery of documents
with their banks, mortgage companies
and other service providers.
They can use the same types of
tools to collaborate with you. In fact,
they're probably wondering why you
aren't offering them yet.

www.CPAPracticeAdvisor.com

WHERE TO START
With clients expecting increasingly
digital experiences, it's incumbent
upon all firms leaders to ensure the
firm is up to the task. Here are some
initial steps you can take to meet
client expectations.

TRULY GO PAPER FREE
As mentioned earlier, many firms
still do send stacks of paper to clients every year, even though clients
neither want or use it. Look for ways
to reduce that burden you place on clients, your team, and the environment
by eliminating paper. Many solutions
now allow clients to "snap a picture
and forget it."
With less paper, you'll be able to:
■ Free up office space previously used
to store paper files
■ Save money on printing and copy
paper, ink and toner, postage and
file storage
■ Save time-wasting steps of printing,
filing and manually searching for
paper documents
■ Keep client information more secure
than paper files in your office
■ Prov ide a better overall client
experience

PRIORITIZE COLLABORATION, ACCESSIBILITY AND A
DIGITAL CLIENT EXPERIENCE
When evaluating new technology
solutions, look for ones that allow you
and your clients to exchange information and documents easily. Remember,
this isn't just about making your own
work life easier; it's about providing
ease of use for your clients.

JIM BOOMER, CPA.CITP

CEO, Boomer Consulting, Inc.
Director, Boomer Technology Circle™
jim.boomer@cpapracticeadvisor.com

Several solution providers offer
cloud-based collaboration with
clients, the electronic delivery of
organizers, electronic signatures, tax
returns, engagement letters and more.
Prioritize technology that facilitates
communication and allows clients to
access copies of financial statements,
tax returns and other information in
an electronic format rather than paper.
Clients expect to have an easy method
for retrieving their information.

ASK FOR HELP
If you struggle with evaluating and
adopting new technology, it's ok to
admit your weaknesses. Reach out to
people on your team, to your solution
providers, in your peer network or an
outside consultant who can help you
along the path.

CHANGE YOUR MINDSET
Without a growth mindset, you won't
be able to embrace change and fully
leverage the capabilities of aligned
technology and processes. Rethink
how you interact with clients. Look
for solutions that are cloud-based and
mobile first. If they haven't started
already, your clients will soon demand
the same self-service options, realtime information and mobile capabilities that they get from banks, online
retailers and other service providers.
Get ahead of their expectations to
avoid having your clients move on to
competitors who will. It's incumbent
upon firm leaders to advocate for their
clients and demonstrate how meeting
client expectations ultimately drives
the firm forward too. ■

http://www.CPAPracticeAdvisor.com

CPA Practice Advisor

Table of Contents for the Digital Edition of CPA Practice Advisor