Automation Leads To A Better Experience For All

Remember when accountants felt like bots and AI were coming for our jobs? With a staffing shortage that won’t remedy itself anytime soon, it’s pretty clear that is not happening. That’s where automation comes into play; it helps you get the grunt work done so you can better serve your clients.

It sure is an exciting time to be an accountant. Automation is leading to new ways to get the work done, and with the influx of new investments into the accounting space, even more new technologies are coming to market. For those fellow techies out there, this is so cool! Even better is the fact that accountants are open to new options unlike any time before. ?

Then there is the opportunity you have to do different work. With time-consuming, repetitive work off your plate, you can be more advisory. The COVID years taught you how to do this and your clients loved it. Automation will help you build capacity to provide the services your clients want contributing to a better client experience.

Do you see the opportunities? In a recent Progress ShareFile survey, Automation: Putting accounting on the right path , 93% of accountants said they are satisfied with the profession today. But it’s not all rosy. They also feel overworked and not as efficient as they could be, but they recognize that technology can help.

I was asked by my friends at ShareFile ?to participate in a LinkedIn Live discussion with Geni Whitehouse of The Impactful Advisor on their study findings. Here’s a look at a few of the bigger issues we covered. ?

Technology Should be Client-Focused

The more you automate, the more human you have to be. Clients don’t want to work with bots, they want to work with you. Good thing, too, because accountants didn’t sign up to sit in a room and do bank reconciliations all day. Why do you love what you do? Probably because you love serving your clients. Tech helps you do that.

This is where advisory comes into play. Geni says this does not stem from simply moving clients forward in the direction of their dreams. You first have to know what their dreams are. This requires that you change your focus from internal efficiency to being more client-focused. And 97% of survey respondents agreed. They believe tech should be used to support an improved client experience.

?“Much of the historical focus for automation has been, ‘How can I make it easy for me to do stuff inside the firm’ and not ‘What’s the impact on the client experience?’” ~Geni Whitehouse?

After you free yourself from all the junk, Geni notes, you can use tech to turn client data into images and pictures you can then discuss with the client. That sure beats sharing spreadsheets and tables that you love. Focus on the format clients love instead.

Seek New Solutions

Accountants are innovative by nature. After all, you adapt to new tax laws every year. You have a laptop on your desk and not an abacus. You exchange documents and communications with clients digitally and not via snail mail.

The world of accounting is changing. What exactly your job will look like in the future is not yet determined, but create and embrace it. Look ahead and see beyond compliance to those services and conversations your clients value.

“We have to keep learning. We have to continue to seek solutions that better serve our clients. That helps us provide more timely, relevant information to those clients.” ~Geni Whitehouse

But use caution when implementing technology. The study found that not having the right resources is a problem for nearly seven out of every 10 accountants. It’s not just about choosing technology to get ahead. Rather, it’s about choosing the right technology ShareFile noted. Otherwise, employers can end up with a bloated tech stack. And that actually hurts productivity.

Be the Bridge

Your newer hires are not like you and that’s a good thing. You cannot afford to dismiss them for not knowing the profession as deeply as you do. Rather, you need to be the bridge between the old guard and the next-gen so you can provide better results together. When we can come together as a profession, we can make a bigger impact.

Use your knowledge and business acumen coupled with your staff’s understanding of the tools. If you do, you’ll be on fire. It’s this upgraded technology that will enhance the experience for all.