3 pillars of an end-of-pandemic strategy for accountants

3 pillars of an end-of-pandemic strategy

February 22, 2021 10:51 AM

After a year of stop-and-start lockdowns, changing rules, and unprecedented circumstances, we can finally see the light at the end of the tunnel with regards to the restrictions related to the pandemic. While the exact date of a full-fledged return is far from certain, there is no doubt we’re on a course for moving forward rather than backward. Your firm may not have had time to devise a comprehensive beginning-of-pandemic strategy but you can and should be creating an end-of-pandemic one.

As we approach a return to something resembling business as usual, firms need to have a plan in place to make the transition as smooth as possible for both their team members and clients. During the pandemic, we’ve all had to make concessions, using technology and adapting policies on an as-needed basis. While these slapdash changes are understandable in a pinch, they can be frustrating and counterproductive during more stable times. To get back to focusing on what you do best, helping your clients and growing your firm, you need to eliminate extraneous distractions and inefficiencies. You can get started on the right foot by addressing the following concerns sooner rather than later.

Nail down a work-from-home policy

Perhaps the most variable part of the pandemic experience has been figuring out remote work. Policies have differed depending on every facet of a business, from size to location to number of employees and beyond—and they’ve been subject to change at a moment’s notice. Most team members have been willing to roll with the punches during these extraordinary times, but once they’re over, they’ll be looking for some long-term clarity.

There are countless ways to craft your WFH strategy. Some firms may opt for a hybrid policy, while others return to largely in-office work. Certain businesses will designate WFH based on roles. A few companies are even toying with the idea of in-office mandates for junior employees while allowing flexibility for more senior ones. It’s not so much the specifics of your plan that matter but rather that you have a clearly developed and articulated one. Talk to team members about what works best for them, think about what makes sense operationally, and communicate early and often about what the long-term rules will look like. Laying the groundwork for a desirable WFH now will only have a positive impact on your employment brand moving forward.

Cement a future-proof tech suite

Did you regularly use Zoom before 2020? If not, you’re probably more than used to it now. That’s just one small example about how the ways our relationship to tech has changed during the pandemic and we can change rapidly when we are required to. These days, firm operations and the tech you use to power them are inseparable. Fighting against your technology will only lead to frustration, wasted time and missed opportunities. Instead, harmonize your tech and strategy to create a lean, agile firm and a more human approach.

At the bare minimum, your essential operations are performed on cloud-based technology solutions. The importance of the cloud is no longer theoretical, and anything you have tethered to a specific device is a lasso holding your business in place. But just stopping at cloud accounting isn’t enough. You also should consider adding automation via AI-powered services into your suite of tools. Clients are looking to firms for added value more and more, in addition to compliance services. The more you’re able to automate, the more time you’ll have to focus on advising and guiding your clients. Staying one step ahead of your clients as far as technology can go a long way in securing the relationship.

Consider new offerings

Speaking of those clients, now is the time to start plotting out new offerings to strengthen your relationships after the end of the pandemic. During the past year, it was prudent to focus on your core offerings and operate as efficiently as possible. Odds are you didn’t have the time and resources to focus on new initiatives even if you wanted to. Now, however, is the perfect time to ask what your clients will need going forward and tailoring new services in kind.

It can easily begin by asking them what they need or want from the relationship they have with your firm. What are their pain points? What keeps them up at night? That may come in the form of picking up new projects that were put down due to the pandemic. It may also include entirely new ones informed by all you’ve learned over the past year. No matter the route you choose, treading water isn’t going to be sufficient once the pandemic is over. Businesses will be looking to recover fully and grow with full steam ahead, and being willing to do the same will secure a long-term relationship.