Why accounting tech needs a client experience overhaul

Like all modern operating businesses, accounting firms today can't look like those of the past. Clients are expecting change, and so are the employees that engage them. Digital natives make up more of the workforce, and they want to join organizations that embrace innovation. And current employees just seem to be giving up, as Gallup has found. If they're using antiquated technologies and processes, they're going to hear it from their clients, and they'll start looking for new opportunities.

With the talent shortage in the industry, it's a bad time to be struggling with attracting and retaining employees. Those challenges are only going to persist, too. The U.S. Bureau of Labor Statistics projects 136,400 new accountant and auditor openings each year through 2031.

Unfortunately, there isn't one solution to combat this talent shortage. Many accounting firms have adopted hybrid working models and implemented new technology to automate processes, retain and attract workers, and improve workloads. Still, leadership teams often wonder whether these efforts help or create more issues.

One thing is clear: Firms that want to distinguish themselves from others to attract and retain the best talent must improve the client experience through collaboration.

Expectations within accounting have changed

Heightened customer expectations of brand experiences extend across all industries, including accounting. A recent report found that 88% of customers say the experience a company provides is just as important as its products or services, and 62% of customers say an experience in one industry influences their experience in other industries.

For accounting firms, it means delivering seamless experiences to clients, beyond the excellent professional service they expect. To do this, firms have to leverage technology that effectively streamlines processes and supports an improved client experience.

Unfortunately, client experiences are often fragmented. For example, when working with an accountant, a client might receive a document to review through an electronic signature platform one day, a link to a personal login portal another, and a PDF attachment via email the next. This siloed experience can feel scattered to a client, but accountants also feel the disconnect.

That disconnect is amplified during client or employee transitions, with accountants left to pull files and dig up critical communications across various platforms. When transitions or inefficient processes affect client experience, it can damage a firm's brand. Underlying processes might not seem critical, but if they surface, they can put the client-firm relationship at risk.

Accounting and auditing professionals are critical advisors, not just number crunchers. Today, no matter the sector or industry, client service is entrenched in these roles, and successful organizations are built and nurtured through the intersection of connections. Both the workforce and clients have shifted to flex and hybrid work, and the need to provide service effectively, outside a set, physical location, underscores the importance of collaboration. Therefore, it's time for accountants and auditors to reevaluate what true partnerships look like within the profession.

Empowering accountants to prioritize client experience

Attracting new talent and retaining current workers require the accounting and auditing professions to show a prioritization toward meaningful client partnering outcomes. This means fixing the disjointed client experience and embracing collaboration and connection to make the job more attractive and to differentiate the firm.

One of the first steps in addressing this disconnect is to listen to the concerns of accountants and auditors who deal with these frustrations every day. Many organizations try to address complexities and enhance competencies by adding new technologies to an already large tech stack, but these might not be the right tools to create an integrated experience. Instead, they could require extra effort to learn the technology and make the tools work for employees' personal preferences or styles. Or they could add extra steps to already complicated workflows, shifting the focus away from client-centric work.

To introduce technology effectively, firms must first define the type of experience they want to provide to the client and identify where and how technology can help. This approach puts the client first and enables firms to create purposeful processes that streamline work for accountants and auditors while empowering them to focus on developing personal connections. It also provides a chance for firms to look at the technologies they have employed, remove any that were implemented as quick fixes, and prioritize solutions that support broader collaboration workflows.

As organizations across the accounting industry continue to adopt technology, they must ensure these solutions blend seamlessly into accountants' and auditors' work and streamline processes in a secure and easy-to-access way. Accountants and auditors need technology to go beyond storing and organizing documents and enable the internal and external collaboration that improves the client experience.

Accounting firms build their brands on how effectively they can serve clients, and they need support through technology partners to foster a better client experience and build stronger relationships. Ultimately, accountants and auditors are in the people business. Ensuring they have the tools to deliver an exceptional client experience will help attract new talent seeking work that matters and retain workers who want to deliver meaningful outcomes for those they serve.