Streamline Workflow and Collaboration with CRM for Accounting

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The common thought runs like this- CRM software is a tool that exists only for marketing. However, the fact is an all-in-one CRM software helps in managing and streamlining processes across departments. However, for the accounting industry, the influence of CRM is extreme.

But, before we discuss how CRM helps in streamlining workflow in the accounting industry, let’s discuss what’s CRM software is.

What is CRM?

If you want your client or partner’s important information to be easily accessible, CRM (Customer Relationship Management) software is the best choice. CRM software is a tool that facilitates managing and analyzing customer interaction at every touchpoint. As a result, you can track the customer lifecycle. Companies that invest in CRM Software have seen significant development in managing customer relationships and driving sales growth.

CRM software compiles customer data across different channels or points of contact, between the customer and the company, which could include the company’s website, telephone, live chat, direct mail, marketing materials, and social networks.

CRM software primarily helps customer-facing staff members with customer data at every touchpoint. It concludes their purchase history, buying preferences and everything else that they interacted about. With core customer data at their access, it is easier for the agents to create personalized communication for each and every client, be it a new or existing one. CRM is also a powerful tool to automate various repetitive tasks, thereby saving your valuable time.

For CPA firms, there are three types of CRM software:

Operational CRM

It helps to automate all your sales, marketing, and client management processes.

Analytical CRM

It processes all your client data for better and more effective decision-making.

Collaborative CRM

It helps to improve communication between different teams and streamline exchange of information.

In short, a CRM is a great software to improve your efficiency. But how does this management software create value for accounting experts? Let’s have a closer look.

What is meant by Accounting CRM?

Imagine that in an accounting department, there is a business assistant who keeps everything under control. He/She makes sure that clients are not forgotten, reports are being sent on time, contacts are concluded in just two clicks and various services are paid on time. That is CRM.

Accounting Customer Relationship Management (CRM) platform is a software which helps accountants and finance professionals manage customer data and relationships, increase productivity, reduce workload and streamline processes. The Internet solves a huge number of tasks for both small and medium-sized businesses, making it possible to simplify employee’s work and reporting process.

Advantages of CRM for Accounting

For accounting experts, CRM is brimming with tangible benefits, who often need to manage a colossal flow of financial and fiscal data. Accounting professionals know how challenging it is to dig through excel reports, documents, and calculation files! Manual accounting is no more existent in recent times. Moreover the amount of time required for manual process can be otherwise unvested in building customer loyalty. Luckily, CRM software can streamline workflow:

It helps to create long-term customer relationships

Among other benefits, this software manages all your meetings, optimizes invoice generation and creates automated follow-up email to foster your business relationships. You may also use the data present at hand to send them customized content. The more you know about your customers, the more your CRM accounting experts will help build strong relationships with your customers and partners.

It centralizes your information

CRM centralizes your client data to use your information properly, divide up our database, anticipate your clients’ expectations and increase your work productivity. You may then track a client’s journey and update their profile to reflect any change (of which there are many in the world of accounting!), whenever you want. Having such a robust database will also make it much easier to transform your leads into clients. The icing on the cake? The agents get more time to access their data from any location anytime anywhere.

It helps prioritization of your actions

Thanks to automated dashboards and a number of performance indicators, your accounting CRM easily informs about the profitability of each of your projects and helps you identify your business’ most profitable clients.

It makes your marketing activities easier

By targeting, dividing up, automation and analysis, your CRM makes your marketing campaign more efficient. From automating newsletter campaigns to implementing remarketing tools, CRM tools help you converting leads.

Furthermore, the data served by the CRM software helps  marketers identify new sales opportunities. As a result, you can cross-sell and upsell to your clients to attain your growth objectives.

What features should be looked for in a CRM for accounting experts?

There are so many types of CRM for accounting experts in the market. So how to know which one to turn on?

To summarize the benefits of CRM for an accounting expert, lets categorize these features into three distinct but complementary groups:

Marketing features

  • Client management tools
  • Complete access to client history
  • Adding clients to CRM
  • Segmentation of marketing campaigns and automating it
  • Superb brand image
  • Reports and analysis to improve existing strategy

Automation/ Centralization feature

  • Implementation of automated workflows
  • Automated follow-ups from clients
  • Achieving of documents
  • Automated email and replies
  • Automated tracking to save time and strengthening of customer relationships
  • Invoice management to accelerate the process and elimination of potential errors

Communication/collaboration features

  • Tools for accountant and client to communicate
  • Easy share of documents
  • Access management for each user
  • Secure exchange of information between different departments within the business

Wrapping up

It is hard to imagine a business that would not need CRM for accountants. A competently built system collects all information about each interaction of a company with the client, allowing for a very accurate analysis and segmentation of the client base, making personalized offers and sales for each client segment.



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