January 7, 2020 Blog

Modern Accounting for Traditional Clients

It is necessary to understand the ‘traditional client’ first off before continuing further.

These are clients who have not yet fully grasped the possibilities of benefits embracing technology can bring forth or are simply resistant to change.

Explaining tech concepts and encouraging them to use technology to solve many of their problems can be a challenging prospect.

“I’m not tech-savvy.”

”I’ve been a technology person.”

”Why use that when there are pen and paper?”

Accountants handling these individuals are often on the receiving end of the general ignorance of the work that goes behind preparing financial details for clients in the modern-day. However, it is necessary to understand that they are still customers, and the customer is always right.

As an accountant, if you are not making at least some sort of effort in attempting to make the traditional client comprehend what you want to tell him/her, that client is lost to you and gained by some other accountant.

As a traditional client, if you are not willing to take what the accountant tells you about the concepts of modern accounting into serious consideration, you are being left out from its benefits.

This article will go over how a traditionally-minded client can come to appreciate the wonders of modern accounting practices, concepts, and technologies.


Modern Accounting for Traditional Clients


HAVING THE CLIENT UNDERSTAND TECHNOLOGY

Technology feels more like a burden than a benefit to them, and this is usually a result of them having attempted to embrace a modern technological solution that has failed in some way or form.

They are, however, also unaware that the global smartphone access percentage as it stands in 2020 is somewhere around 78%, and there are over 4 billion e-mail users. 

The client’s move can be supported simply by having them download an accounting app on their phone, preferably a free trial. The days of being limited to the desktop, or laptop for dealing with accounting are over. Everybody knows that.

If a client has the “if it ain’t broke then don’t fix it” attitude towards accounting, it is necessary to at first realize that this sentiment is reasonable.

Traditional accounting may indeed end up working for such clients through meticulous efficiency and proper management, but there’s a catch, it needs work.

Modern accounting is there to make the work easier, not add to it. It is the most important motivator to adopt the practices and technologies of contemporary accounting.

In any way, what was once good for the traditional client’s business may not be as good any longer, or it will cease being right shortly, and the need for moving on is great. 


CLOUD ACCOUNTING AS THE NEW FRONTIER

Cloud accounting has now been made accessible for every type of business, small or large. No business is incompatible with cloud accounting systems, which is an idea held by traditional clients.

The traditional clients tried and tested a manual spreadsheet system that may run out of steam quite quickly if it is not due for replacement by cloud accounting software.

As stated previously, these old-fashioned provisions directly occupy extra admin time, extra admin time that could be used for more productive purposes than keeping your company’s finances up to date.

The spent time and resources could be allocated towards humans resources, research and development, new ideas, and much more. Cloud accounting solutions ensure that extra time is left for productivity. 

The inter-connectivity of cloud accounting means that you are not limited to using computers to access and use the features with complete functionality.

The traditional client surely uses a modern smartphone in 2020, which can just as easily access the software and work with it. Some examples of cloud accounting software are regularly updated with information on the best new accounting practices and the guidelines for their adoption, which is surely a valuable resource useful for all types of businesses.

Cloud accounting solutions typically support more than one user so the client can have lay personnel or team member operate the accounting software smoothly.

This brings us to the traditional client’s employees, who must also be included in the discussion as it is important to listen to what they need and what they want.

More often than not, these employees will be the most likely ones to wish to adopt cloud accounting services as it is guaranteed that such a solution will be able to solve their problems. 


CONCLUSION

Eventually, the traditional client must understand how truly beneficial the practices and technologies of modern accounting can turn out to be for his/her business.

In the business world, it is necessary to continually modernize your business and stay ahead by making use of technology. This process can be helped by taking a close look at the power of modern accounting and the practical examples that continue to speak volumes about its successes.

Modern accounting similarly offers great success for accounting practices as instant access to client accounting allows for spotting problems and opportunities earlier for them to become trusted advisers, establishing strong reputations.

It is, however, essential to know through and through what exactly you are getting into with cloud accounting. Switching to cloud accounting comes with the understanding that the user is willing to invest the resources needed to keep the system running optimally.

Syncoria is a digital transformation firm based in Canada and is an official Odoo Ready partner.

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