Fostering a collaborative partnership with your accounting clients is the bedrock of solid relationships and increased profitability. 

At The Access Group, our customers are accounting firms, just like yours, in need of software for accountants to make managing their practice effortless. During our conversations with accountants, we often hear how firms look for ways to work closer with their clients.

These conversations spurred us to create this article about collaboration in accounting, its importance, and how collaboration tools, such as a client portal for accountants, are the lifeblood of strong accountant-client relationships. 

What does collaboration in accounting mean? 

Collaboration, as a soft skill, involves abilities such as: 

• Communication 
• Empathy 
• Accountability 
• Problem-solving 

Regarding collaboration in accounting, we mean that everyone within a project works together towards a shared goal. Within accounting firm relationships, this means your accounting team and clients. 

When accountants and clients clearly understand what is required of them, working together towards shared goals becomes everyone's top priority.

Why is collaboration important in accounting? 

As ACCA Global highlights, over 75% of accounting job advertisements today look for candidates who demonstrate strong soft skills, including collaborating effectively with team members and clients. 

Accountancy is a profession that has shifted with the times. In years gone by, accountants have bestowed the role of crunching the numbers in their offices and mainly worked on compliance or reporting tasks each day. 

At all levels of experience, the modern accountant is expected to play a more dynamic and direct role with their clients. Technological shifts have necessitated remote and flexible working arrangements that call for collaboration tools as part of your accounting firm's tech stack to get the job done. 

Additionally, industry trends have made practices shift, becoming the key trusted adviser for businesses across Australia. In this role, accountants are commonly asked and expected to collaborate with business owners and senior leaders to navigate their strategic environment. 

Learn how to master client relationships for your accounting firm today. 

What are the benefits of collaboration with clients in your firm? 

When you actively collaborate with clients in your accounting practice, you're likely to see the following benefits: 

• Understanding your client's needs: Working on your collaboration can lead to a greater understanding of your client's needs and preferences, enabling you to tailor your services accordingly. 
• Improving communication: Working closely with clients fosters good communication, with clearly defined and aligned expectations. 
• The feedback loop: Collaboration facilitates a continuous feedback loop for your firm, helping you refine and improve your accounting services based on client input. 
• Building long-term client relationships: Active client collaboration helps lay the foundation for long-term relationships that can lead to repeat business and client referrals. 
• Being on the forefront of industry changes: Adopting a collaborative mindset within your practice promotes agility and adaptability, setting you up to respond more effectively to changing market conditions or client needs. 
• More excellent learning opportunities: Collaborating with clients is a ripe opportunity for knowledge exchange, allowing both parties to learn from each other's expertise and experiences. 
• Better problem solving: Successful cooperation in your accounting practice often results in more comprehensive and practical solutions to your challenges, drawing on both parties' collective skills and insights. 

How to collaborate better with your clients 

Here are some valuable strategies for fostering a collaborative culture with your clients.

Setting clear expectations 

Building collaboration with clients starts with being clear and concise with your scope, timelines, and deliverables upfront as part of your accounting client onboarding. 

You and your clients should also mutually agree on preferred client communication channels, formats and frequency so that everybody is on the same page. 

Setting clear expectations prevents confusion, misunderstanding and frustration later down the track. It also establishes a baseline of trust that can lead to repeat business. 

Flexibility and adaptability 

Think about a time when you, as a client, received good customer service. More often than not, the service provider demonstrated respect for your needs or preferences. Demonstrating flexibility and adaptability to your clients speaks volumes about your professionalism and helps to build rapport and credibility. 

Examples of flexibility and adaptability include being aware of their holidays, working hours, cultural norms and sometimes time zones and adjusting their schedule accordingly. You can also demonstrate this collaboration technique by responding to changing circumstances, including delays, requests or feedback. 

Proactively seeking collaboration 

Proactive collaboration with clients means involving them in decision-making, asking them for their input and incorporating their feedback or suggestions. Consider using collaboration tools, including video conferencing, chat apps, or a client portal for accountants to facilitate better collaboration and communication between you and your clients. 

Seeking collaboration proactively creates a partnership within the accountant-client relationship with those who feel you acknowledge their contributions and efforts. 

If you want to improve your collaborative skills, why not see if any free CPD resources for accountants can take your collaboration with customers in a rewarding direction. 

Why are collaboration tools necessary for accounting firms? 

As accounting software evolves, more accounting firms are embracing cloud-based accounting practice management solutions to help you become a better collaborator with your clients than ever before. 

A client portal for accounting practices  

For many practices, client interactions can be time-consuming.

Every project has reams of documents in various stages of completion, passing through many pairs of hands. Client portals, a component of the best client management software on the market, help to streamline document management and contribute to an impeccable client experience for your practice.

Still, according to our studies, only 35% of practices in Australia are using client portals for accountants to their full potential.

A secure client portal enables accountants and clients to work closely together to sign off and securely upload files and reports related to their projects. Client portal features such as digital signing can significantly speed up the completion of jobs, and automatic email notifications provide extra visibility on when files are uploaded or sent. 

As David Francis, General Manager of Access Accountants APAC, says, "Access to client data in one place is a great driver of collaboration, empowering you to engage more efficiently with your clients." 

In summary 

Remember, successfully collaborating with your clients combines effective communication, mutual respect and striving for the same goals. Actively engaging with your clients to foster a collaborative environment can unlock success for both parties. 

As we highlighted above, collaboration tools, such as client portal software for accountants, are designed to keep your clients motivated and happy throughout their time with you.

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With Access Practice Management, client management is easier than ever, with a centralised location built to transform client relationships and practice operations. To find out more about our client management software, talk to a specialist today.