tax technology
Tax & AccountingMay 13, 2020

Take advantage of technology to understand your clients better

In these uncommon times, it’s common sense that your clients are relying on you for financial advice. To ensure that they feel heard, it’s important for your firm to understand your clients and what they need — sometimes before they even ask.

In fact, data can help you do that. In the first of four webinars in our Peak Performance series, Wolters Kluwer product manager Pam Kelley discusses real-world, practical considerations for leveraging data to serve clients better with Partner Allen Kutchins, CPA, and Staff Accountant Mary Cercone, MBA, both of Kutchins, Robbins & Diamond, Ltd. As a result, consider these three strategies for keeping your firm top of mind with clients.

Improve the client experience

Our 2019 white paper called “The Future of Accounting” found that only about 25% of firms are being proactive about communicating tax law changes to a significant number of clients. Is this something you want to do, but simply don’t have time for? Consider CCH Axcess™ iQ, which uses predictive analytics to automate the process of identifying clients affected by legislative change. The technology allows you to take on a more proactive advisory role, saving your clients money and headaches — and positioning your firm as a partner not just a vendor.

Find new services to offer

Of course, with everything going on, 2020 may not be the year that your firm experiences a ton of growth. But different tech solutions can help you improve staff efficiency and increase the number and type of services you offer to your clients, both of which are important growth factors. For example, by analyzing your client data, your firm might discover new opportunities to offer higher-level consultative services.

Pick the right technology

At bare minimum, the technology you select should allow you to collect and analyze client data. But more importantly, it needs to help you leverage that data to understand your clients better. Consequently, integration with your full suite of software, dynamic reporting, data visualizations, and predictive intelligence can help you identify trends and proactively reach out to clients with future-focused action steps.

Are you looking for more ways to use technology to help your firm understand your clients? Watch the “Understanding and Serving Clients Better” webinar for actionable ideas.

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