Clients could choose to quit their connection with their accountant for various reasons, but you should examine what actions you can take to improve client satisfaction and make things easier for them so that they stay with you.
It’s difficult to lose a client, yet it occurs all the time. There are times when the causes are simply beyond your control. For example, the customer’s business may have been sold or merged with another firm with which the client has a long-standing relationship.
Since they can provide in-depth financial advice at any stage of your organization’s growth, consider CPA for hire.Here are 21 reasons why clients fire accountants and what you can do to avoid it.
Lack of Proactive Communication
Sure, you call your clients to plan fieldwork, follow up on Provided by Client (PBC) request lists, and remind them to provide documents on time, but do they only hear from you when deadlines are approaching? You are responsible for anticipating developments for your client as their valued counsel.
You don’t have to wait for your clients to inquire about the implications of changing accounting standards or impending tax legislation on their company. Instead, call out to your clients ahead of time to start the dialogue, demonstrating that you care about them.
No Roadmap for Growth
You could provide strategic planning, business valuations, asset management, and other services. Still, if a long-standing client is unaware that you offer them, they may seek these services from a competitor. When clients don’t see a path to success with your firm, they will seek a firm that can show them the way.
It’s critical to inform your clients about the additional services you could provide if necessary. Set up quarterly or annual planning sessions to explore their requirements and objectives and how you can assist them in achieving them.
Improper pricing Services
Unexpected invoices may turn clients off. From their standpoint, their tax return or assurance engagement is relatively the same from year to year. This year, let’s imagine you spend more time investigating the investment cost basis or reconciling shareholder basis on their return.
If you charged them $500 for their tax return last year but sent them a $1,000 invoice this year, the client would remember that the price went up, and no one informed them ahead of time.
You can avoid this by combining and charging for your services on a subscription basis. When you combine transactional, compliance, and consulting services for a straightforward monthly pricing, your clients will know what to anticipate. They may be paying double or triple what they were previously, but they’ll be pleased with their value.
Doing Business with You is Not Easy
Do you have tense client interactions? Do your clients deal with technology that simplifies your job but frustrates them? Do you send them forms that they must print, sign, scan, and return to you through email? Clients will rapidly burn out if conducting business with you is a lot of work.
Examine your firm’s processes and technologies from the client’s point of view. You won’t have to worry about losing business to competition if you implement adjustments to make their lives easier.
Client Experience Can Differ
Is the client experience consistent when working with different divisions or personnel inside the firm? Or does it depend on the individual or department with whom they’re dealing?
Your customers may be uploading or emailing the same documents many times to different systems or persons if your accounting, tax, and assurance departments utilize separate systems that don’t integrate properly.
It is annoying, and it gives the impression that your firm is disorganized. Initiate a client experience program in your company to ensure that your clients have a positive experience no matter which department or individual they initiate their concerns.
Other reasons why Tax Clients Fire Accountants
Keeping your clients pleased and loyal is a never-ending effort that entails much more than just filing a tax return or financial statements correctly. Here are some more reasons whyTax Clients Fire Accountants.
- Failure to grow with the clients.
- Delays and extensions.
- CPA Doesn’t help the client make more money
- An uncaring attitude
- Receives no insight or explanation of tax returns and statements
- Lack of value
- Lack of experience
- Lack of contact
- Lack of Transparency
- Timeliness Issues
- Generalized Strategy
- They Don’t see you as a “partner.”
- Lost personal touch
- Last-minute rush
- No up to date services
- Lack of valuable insights and advice about expanding the firm
Final Thoughts
Keep up with industry developments and aggressively seek methods to improve your workflow procedures. You are not irreplaceable as a CPA. However, you’ve already progressed from before you started reading this article. You’ve put in the hard work and gone through the difficult self-evaluation process. On the other hand, clients fire their accountants near me for a variety of reasons.
The value you provide to the relationship will not be neglected or devalued if you communicate proactively, show your clients how to help them grow, bundle and price various essential services, and make it easy for clients to conduct business with you.
