CRM’s and accounting
Client relationship management (CRM) software has been around for years, but many accounting firms have yet to tap into its full potential. This is no more evident than when tax planning season rolls around. By adopting and utilising CRM software, accounting firms can gain a competitive advantage in their industry by automating and understanding their clients better. In this article, we will discuss the untapped potential of CRM software in the accounting industry and how firms can benefit from using it.
Who are the leading CRM providers for accountants?
It is important to understand that some accounting firms consider their practice management software as their CRM. Whilst some practice management software has some of the capabilities of a full-featured CRM, most are not designed to be a CRM. Generally, firms are required to rethink how they view their client management to move away from pure compliance management.
If you want to view clients at a relationship level rather than at a job level, then there are several leading full-featured CRM providers for accountants that cover all the improvement areas listed above. These include Salesforce, Hubspot, Zoho, Pipedrive etc. But the challenge for accounting firms is that none of these integrate directly with their practice management software. This means that firms would need to have two different client lists to manage. All offer another add-on service to be able to automate and track workflow, but there is no integrated way to get this time data out into an invoice into Xero. So, whilst you’ll pick up areas of improvement in some places, it will create further challenges in others. The way we overcome this currently is through ‘hybrid’ providers.
Who are the ‘hybrid’ providers that offer a basic CRM for accountants?
There are several ‘hybrid’ providers that are considered more practice management providers but offer some of the features that you would expect in a full-featured CRM. When set up properly, the providers below can offer some of the improvement areas listed above. These providers include:
CRM software has tremendous untapped potential in the accounting industry. By adopting and utilising CRM software, accounting firms can improve client service, increase efficiency, improve collaboration, better manage their sales pipeline, and enhance marketing efforts among team members. With the right CRM software in place, accounting firms can maneuver through tax planning season successfully and achieve excellent outcomes for their clients. It’s not too late to discuss how a powerful CRM could help your firm this tax planning season. The landscape changes rapidly and it is important to have the right information to make decisions quickly. Reach out to us to find out more.