Having technology is one thing. But CPAs need to do more than know how to access it. They need to use it to its full potential to stay on top of what’s happening in the market and help their clients in their bid for success.
It can be all too easy to forget that your accountancy firm is a business, not merely a service you offer. And as a business, you need to think about productivity and growth. One way to ensure optimal growth is to make the most out of technology.
Today, there are so many ways that technology can benefit you that it can be overwhelming. Let’s narrow it down. Here are five ways you can use technology to grow your business faster in 2023 and beyond.
1. Automate Processes
Today’s bookkeeping and accounting tools can transform your own business, along with those of your clients. You can save a lot of time using software over doing things the old-fashioned way, making bookkeeping effortless and automated. You no longer need to invest your time in necessary but mind-numbing tasks.
There are significant benefits to this automation. Yesterday’s labor-intensive processes meant you were forced to work with a limited number of clients. Now thanks to automation, you have far more time to devote to increasing your client intake and growing your company.
2. Offer Advice in Real Time
The cloud enables you to offer access to your data anytime and from any location. This means your clients can find what they’re looking for without having to contact you and not cutting into your time in the process. You can use that time to work on prospecting and growing your relationships with your existing clients.
Security remains an issue with cloud accounting, as some clients are skeptical. You must have a degree of knowledge about cloud security and stay updated on any changes to ease your clients’ minds.
3. Be Contactable 24/7
There are now numerous ways to reach out to your prospects and clients. Face-to-face meetings are still a thing, as are emails and telephone calls. But there’s also social media and video calls. You need to be active and easy to contact on all these platforms. You should also try to get an idea from your clients as to their preferred way of contacting you.
You can communicate with prospects indirectly through social media. It’s an effective way to promote yourself; you can even do it for free. By consistently posting relevant and valuable content, you’re helping to establish your brand. You can also position yourself as an expert by responding to comments on your own posts, as well as those on other posts in relevant groups.
Let your clients and prospects know they can contact you whenever is convenient for them. By doing so and responding promptly, they’ll trust you and will likely remember you should they ever need your services.
4. Embrace Mobile
Apps are great for both accountants and their clients. After installing apps like Receipt Bank, clients can use them from anywhere with an Internet connection. Even with a hectic day ahead of them, they can send paperwork on their morning train commute.
You can use these apps to get paperwork in real time, such as bills and receipts. This means not everything has to be sent simultaneously at the end of the month. You can process them immediately and consistently provide your clients with the numbers they need for a successful business.
By promoting mobile to your clients, you can help reduce their workload, in addition to making life easier for yourself and having the ability to handle bills as you go.
5. Be at Your Best for Tax Season
Accounting apps and automation tools can help you stay ahead of your clients’ needs. By using technology, you have more time at your disposal, which you can use to brainstorm ways to improve your services. One example of this would be to test a monthly recurring revenue service instead of dealing with tax all at once when returns are due.
You can view this as more of an opportunity than a hassle. It’s your chance to turn your once-a-year customers into regular paying clients, providing your company with more reliable cash flow.
Conclusion
Technology has the potential to transform your business from good to great. By using software like PracticePro 365, you can maximize the benefits you bring to your clients, which will only help your word-of-mouth referrals and reputation. It’s win-win.
