If you're a bookkeeper, year ends might be a source of stress. Clients may often expect you to take care of something completely different and outside the bounds of your offering. Year after year, you work tirelessly to help these clients with the year-end process, and it’s a drag. Constant deadlines from multiple clients make it seem like you can’t catch your breath and to compound your worries, the CPA firms you work with lack innovation and don’t have the same vision as your cloud bookkeeping firm. They may even take shoeboxes of receipts at the year-end! In most cases, all your clients work with different accountants, which means back and forth discussions with 10+ different accountants with different needs and expectations. You might have even thought about doing year-ends because of the lack of a properly performing technical stack within established CPA firms. We totally get you! That’s why we created Stamped.
Let’s examine three reasons why your bookkeeping practice could benefit from aligning itself with a tech-enabled CPA firm.
When the year-end processes come around, so do your clients for a CPA referral if they don't already have one. Unfortunately, if they're asking you to refer them to a CPA firm you recommend, you're often forced to recommend an outdated firm with little to no tech stack, which makes the transfer of data cumbersome for yourself and your client. This type of relationship causes frustration and ruins the good work you've done for your clients over the past year. By partnering with a tech-enabled CPA firm, data transfer is easy, and clients are happy with the referral you've given them.
When the year-end is in full swing, sometimes it's almost impossible to keep up with all the different communications. Phone calls, emails and text messages make it practically impossible to consolidate all the communications and avoid miscommunication. According to a survey by Expert Market, 28% of employees cite poor communication as the reason for not being able to deliver work on time. Has it ever happened that poor communication has cost your bookkeeping firm to miss deadlines or your clients to miss out on deliverables? With a tech-enabled CPA firm, you'll increase output and your firm's profitability by saving time lost in overcommunication. If you want a streamlined communication channel where files don't get lost, and communication remains in 1 place, a tech-enabled CPA firm might be the right fit for your clients' year-ends.
The match in business model and similar clients can ensure that clients go from your bookkeeping firm to year-ends with a tech-enabled firm in one seamless, streamlined manner. This collaboration will potentially increase clients for your firm, as customers working with a tech-enabled CPA firm will also be looking for a tech-enabled bookkeeping firm. The end-to-end experience that is easy for the customer to follow will also allow you to make your customers happier, as previously discussed.
When discussing future proofing, you may automatically think of the possible future sale of your business. Yes, this should be top of mind especially since people are most likely to purchase a business that is not only more profitable, but also has a more streamlined (tech-enabled) process but also think about the future of the industry. The industry is constantly evolving, and more and more requirements are coming from the CRA as well as your clients. If you want to avoid falling behind the trends, losing clients to more tech- savvy businesses as well as fully stacked businesses you need to stay on top of your processes and technology.
If these ideas resonate with you and you’ve thought of making a transition we’re with you. At Stamped, we've created a simple year-end solution that keeps all year-end deliverables & communications within one tidy app. In addition, it's up to the tech stack standards of your modern bookkeeping firm. With the Stamped solution, you can keep track of your client's year-end progress and communicate with your clients and a Stamped CPA within our app.
If you're a bookkeeper attending the CPB Ignite Conference in Calgary from September 20th through September 23rd, come check us out at our Stamped Booth and learn more about us by chatting with Simon and Kinga. Feel free to book some time to chat with them during or ahead of the conference by clicking here for Kinga’s Calendar.
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