Getting Ready for the Future: How Accountancy Firms Can Adjust to Meet Changing Client Needs

What clients expect from accountancy firms is changing fast. This is especially true when it comes to client communication. Once upon a time, an accurate and reliable service was enough to satisfy clients in their communications.

But this is no longer the case. Modern clients want their communication to be fast, easy, and personalised. Even as client expectations and preferences evolve, many accountancy practices still rely on traditional tools like email, spreadsheets, phone calls, and Whatsapp. These once-progressive tools now sometimes struggle to meet the needs of modern clients, making it more difficult to keep them happy.

The need for accountants to evaluate and implement new technologies in their client services to meet growing demands is crucial.

How COVID-19 changed client service expectations

During the COVID-19 pandemic, digital communication in accounting increased 10-fold.

With everyone working from home, accountants quickly embraced video calls, changing how they connect with clients. This sudden change showed how important it is to be flexible and use new tech to keep strong ties with clients.

One study found that 82% of accountants agreed that clients’ expectations have increased significantly in a post-pandemic world. The move towards more advanced digital tools is expected to have a lasting impact on the accountancy sector. But it’s not just video calls – we’re heading into even more advanced territory.

The tools and technologies for tomorrow’s accountancy

Leading the charge in transforming client service within accountancy are cutting-edge innovations, prominently featuring Artificial Intelligence (AI).

The rising popularity of AI tools in accountancy boils down to their ability to handle routine tasks and deliver valuable data analysis. By tackling everyday tasks, AI frees up time and energy for accountants to focus on more intricate client needs.

Adopting AI tools means stepping up your game in providing better and more efficient customer service, keeping your accountancy firm at the forefront of today’s tech-driven society.

However,  it’s important to keep in mind that while AI tools offer valuable support in streamlining processes and providing data insights, their effectiveness is amplified when combined with human expertise.

Benefits of good client communication

There’s a lot to be gained from maintaining good relationships with your firm’s clients, including:

• Building more productive relationships
• Keeping clients updated
• Allowing you to become a trusted financial advisor
• Helping you grow your client base
• Improving client retention

To sum up, the necessary adjustments we made during the pandemic and the increased use of AI underscore a move towards more personalised and efficient client service. When you embrace these changes, you’re committing to providing services thoughtfully tailored to exceed your clients’ expectations.

Workiro will be exhibiting at Accountex London on the 15-16 May 2024 at ExCeL. 

You can register for a free ticket here. 

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