Expectations for Australian accountants are changing rapidly within the industry and with those changes, come clients whose needs are shifting alongside the rise of AI, cybersecurity, business advisory, and communication assurances. Handling these needs is about keeping informed on the latest changes within the industry, empathetic to difficult demands, and upholding clear boundaries while maintaining a professional outlook that allows for retaining a loyal base.
Keeping up with technology
From AI to new and shiny software, the ever-changing landscape within the accounting industry can be a challenge to keep up with. Ensuring you’re well-versed in software updates, cybersecurity, AI programs and social media changes means you’re able to field client queries with ease. Investing in upskilling your technological knowledge makes the world of difference, in particular if you have clients who are not technology literate.
Expanding your skill set in regards to cybersecurity could not be more important with the increasing prevalence of data breaches, security threats, and malware. Your clients will often look to you for advice on how to manage this within their business. Gathering knowledge around this subject and utilising the tools available to increase your security is a logical and easy way to ease client concerns while improving your own liability.
You can harness new technology to expand your services as well. Financial monitoring, data and analytics, data security, and software that streamlines your processes are all beneficial to your firm and your clients. Many clients will want in-depth financial analytics when it comes to their business, and technology can be used to present this in a way that is both palatable and understandable for a client who may not be proficient in it. Using technology to provide a sleek presentation of your client’s finances can improve their trust and lessen demanding requests.
Business advisory demands
Clients are becoming aware of business advisory services and just how those services are able to achieve and exceed their professional goals. Many firms across Australia are looking to outsource their compliance work to accommodate business advisory to a larger portion of their clientele. If you do decide to outsource your work, it’s imperative you reach out to a trusted and reliable company that is skilled in adopting your practices while producing high-quality work.
When a client realises that you are able to provide strategic advice about their business, the demand for your services naturally increases. To handle this involved service offering, you need to have trained, proactive staff willing to take on the challenge. Business advisory services require person-to-person relationship building skills and can increase client demand. Your focus needs to be on creating long-lasting, trustworthy and transparent professional relationships so that your client’s can have every confidence that their needs are handled securely.
Communication and boundaries
The ease and speed at which your client is able to access you and your firm’s expertise has never been as accessible as it is in this modern age with multiple forms of communication available at a moment's notice. Whether your client prefers to call, email or reach you via social media - boundaries are crucial when managing expectations.
Establishing solid boundaries in terms of working hours makes the world of difference for you and your staff. During peak season, boundaries can get pushed especially if overtime is required - however it is up to you to decide when your availability switches off for the day. Your clients will swiftly learn the hours in which they are able to receive advice while you’re able to manage their needs in a healthy manner. Set expectations, availability, clear outlines of the services you offer, and the predicted timelines in which they will be carried out.
There comes a time in every accountant’s career where they have to relay difficult information. Ensuring you approach this with an empathetic view means the difference between a negative or a supportive experience. Some clients will require speedy and succinct communication especially if they are under high stress about their business. Empathy is key in understanding their requests while also being empathetic to the service you’re able to offer. Reach out to external sources to provide specialist advice if you’re unable to field their query. Relying on your wide range of resources helps when meeting client demands.
