What Are the Challenges Facing Accountants?

The way accountants do business today has changed dramatically in the last few years. While this has brought about new opportunities, it has also thrown up some challenges which need to be faced head on, to stay competitive and provide a fantastic customer experience.

For over thirty years, VSL have been helping professional service practices ensure their businesses are sustainable by tackling these challenges through powerful and innovative technologies which improve the way they do business. These are the biggest concerns our customers had and the strategies we put in place to tackle them.

Flexible Communications

In this world of multiple communication channels, clients are far more demanding in the way they wish to communicate. There are so many options, from a phone call, email, text, WhatsApp, and Microsoft Teams video call, to stay competitive and respond to customer trends, companies need to be able to raise the bar to manage all of these. In addition, clients also want flexibility on when they communicate which means extended hours of working or being able to respond from anywhere.

Technology To The Rescue

To address this requirement, the adoption of cloud telephony and its associated apps can easily provide your clients with fast responses to calls at any time whether staff are located in the office or at home. The philosophy of the any device concept means calls can be taken on a traditional handset or a softphone app on a mobile or laptop device.

Increasing Productivity

One of the biggest concerns accountants face is that of productivity, not only ensuring that the work being conducted is accurate, but also at a pace that means you have the capacity to handle more work, meet deadlines and improve overall efficiency. It is also important to remember that in any business, greater productivity can lead to job satisfaction and potentially higher compensation in the long term.

Accelerate Performance

Practices like yours require secure and scalable connectivity, not only do you rely on software like Sage and an online CRM, but there may also be periods when demand is higher like financial year ends. By ensuring you have the capacity in your connectivity to avoid any disruption, you can ensure that your business is performing at its best. To optimise your internet, other cloud services can utilise this resource such as hosted telephony maximising your ROI.

Technology You Can Trust

Having confidence in the technology and resources you adopt is crucial in any companies’ success, but especially for accountants. You need a system that can grow and adapt to the changes in your business, with no downtime. In addition to this, training to help your entire team onboard quickly and without delay is paramount to you and your entire team’s success.

Technology is only able to help improve your business practice, if adopted by all and with confidence in its abilities to perform what it needs to, when it needs to.

Never Miss A Call

Tech that has been tried and tested by other firms like yours is always a fantastic place to start. Look out for big brand names, products that can be updated remotely, and tech that requires less hardware. Look for businesses that are experienced within your industry and those who prioritise their customers and strive for long-term relationships.

Technology that provides you with flexibility can ensure your staff can work from anywhere and on any device, which in today’s environment is an absolute necessity. Your business needs to run knowing that you never have to miss a call which could have been a business opportunity.

Tech That Adapts To Your Needs

We have all learnt that businesses across all sectors need to be adaptable. Now more than ever employees and customers are asking for greater flexibility from the businesses they choose. Accountants in particular, need to have adaptable businesses because the financial industry is constantly evolving, with new regulations, technologies, and market trends, all of which can significantly impact the way in which they do business. Adapting to these changes requires businesses to stay informed, flexible and innovative in order to provide the best possible services to clients.

Adaptable businesses can quickly pivot to address new challenges, seize opportunities and stay competitive in the industry. These businesses are also the ones who can identify emerging trends and use them to improve their services and stay ahead of the curve.

Resilient Businesses Need Flexible Solutions

Flexible work policies are one of the first things accountants can do to make their business adaptable. Remote working opportunities allows businesses to attract and retain top talent, the technology that goes with this can help accountants improve on their innovation through fantastic collaboration platforms.

Experts You Can Trust

With our portfolio of quality solutions for telephony, internet, mobiles and network infrastructure, VSL can meet the needs of all professional services practices.  Our ethos of wanting to deliver excellence from initial consultation to implementation and on-going support has meant that much of our business has grown through referral.

We are excited to be exhibiting at this years Accountex Exhibition on the 10th and 11th May 2023 at the ExCel London. You can find out more and book your free tickets by clicking here.


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