As we approach the dawn of a new decade, there’s no doubt that advanced technology will be the subject in accounting for 2020.
The rise of computational technology has given rise to an important distinction between compliance and advisory services in our profession. Computational accounting, getting the numbers right, is better than ever before. As a result, advisory services are of
The old model is dead
While accounting has never had the reputation of hostile customer treatment that has plagued
Consumers have more choice than ever before, whether we’re talking about where to buy our produce or how to watch our favorite TV shows. Accounting firms need to be ready because we are dealing with the same things. Not only do prospective clients have more firms to choose from, but they also have options outside of traditional firms. Emerging companies like Bench are offering the Netflix equivalent of accounting, providing subscription services for accounting. In this environment, standing out is as much about making clients feel cared for as anything else. As Jeff Bezos, who knows a thing or two about the contemporary customer, once said, “If you build a great experience, customers tell each other about that. Word of mouth is very powerful.”
Looking for inspiration
When it comes to technological innovation, there’s wisdom to be found in searching further than the profession in customer delivery. And there’s perhaps no better example to follow than the service industry itself. Restaurants differentiate themselves by creating an experience so desirable that customers will pay for it again and again, whether or not they can make better food more cheaply at home. In “
Another way to think about the concept of customer service came up in a recent episode of my
This simple idea is the essence of the service mindset. It’s not “if you build it, they will come,” but rather “if you serve them, they’ll come back.” No matter whether you're meeting a client for the first time or providing them regular reports on their business, the ultimate goal has to be making them feel valued by you. No matter how sophisticated technology gets, that relationship piece will remain essential.
Making service your purpose
I’m not saying you need to become the most charismatic person in the room to be effective. There are countless ways to provide exceptional service, and you can create an outstanding client experience based on the nature of your personality and the strengths of your firm that differentiate you. Creating that experience for your client is a vital part of the equation.
Even when robots can cook meat to perfection, I have a feeling people will still be going to restaurants. How can you think about your experiences that you create in the coming year so you clients keep coming back to your firm?