Top 6 Pain Points in Client Services Accounting Firms Must Solve

Today, accounting firms can’t get away with only doing accounting well. They have to offer a competitive customer service experience to ensure customers are satisfied. This way, their customer retention increases or is at least maintained, allowing the business to thrive.

The problem is many accounting firms don’t put enough emphasis on the needs of a customer beyond getting results through a job well done. These days, customers value transparency above a lot of other factors that were once relevant. Research shows that 9 out of 10 customers will stop purchasing from a business if they feel they lack transparency.

9 out of 10 customers will stop purchasing from a business if they feel they lack transparency. Share on X

Customers want to stay updated on the progress of their accounts, and it’s become easier than ever to switch service providers if they don’t get those updates.

It’s because of the abundance of choice, or even do-it-yourself software, that accounting firms need to take customer service seriously. To help you through the process, here are six customer service pain points worth addressing in your client services.

6 Critical Issues Accountants Can't Afford to Ignore

1. Access to real-time account information

Today, software makes it easy for you to keep your customers in the loop so they know what’s going on with their accounts. They no longer have to wait days and weeks or rely on phone calls to know the status of the service they’ve paid for.

Tools like customer-facing portals and client collaboration software can make it easy for accounting firms to clearly communicate with customers at all times. Customers can log in securely and check out their numbers. If they have any questions, they can easily reach you without having to make a call or see you in person.

For instance, with Mango Practice Management (formerly ImagineTime), you can have peace of mind when sending sensitive information through email because of the added security its plugin provides its users. Once installed, customers can safely access email information without worrying about identity theft.

One of the biggest perks of client portals? Not only does using them elevate the customer experience, it also reduces the time your accounting team has to spend chasing down customers for sign-offs, forms, or changes to their personal information.

2. Customer education

Sometimes the customer experience suffers because customers aren’t educated enough on the subject to know what to expect or even what to ask. Whether they lack the time (after all, they are outsourcing their accounting needs to you) or aren’t informed for other reasons, educating your customers on expectations, timelines, and the cadence of your accounting services can go a long way.

This begs the question: “How can you solve the customer education pain point without having it use up all your time and resources?” A great solution worth considering is to revamp your client onboarding process.

Instead of just making it about gathering the appropriate signatures and forms, it can be worth it to add some informational content as part of the initial onboarding steps. That way, customers can engage with you from a more informed standpoint, instead of being left to their own devices.

It can be a useful idea to have clients sign off on a frequently asked questions form online. Either way, you’ll need software to streamline your onboarding process and refine it as part of your overall customer service experience. A tool like Mango can help you through any tax law changes you might need to be aware of for your onboarding.

3. Tracking billable hours

Tracking billable hours is yet another way to ramp up your client services and gain customer trust, but unfortunately, it’s not something every accounting firm considers. Granted, every accounting team prices their projects according to their needs. But the idea here is that taking the time to track key data and showing it to customers is a crucial part of customer service.

It can be easy to think of customer service as an afterthought—something that only happens when you pick up the phone to make a call or when clients walk into your firm for appointments. But customer service, which starts the minute you connect with your customer and ends when you part ways, is a pervasive part of any business.

Tracking key billing data with reliable time and billing software, for example, can be a way to establish trust with customers who are new to working with you. If you need to recall anything, you’ll have a reliable record of key data to refer to.

4. Automating accounts receivables 

Accounts receivable management (ARM) is a systematic approach to managing incoming payments, making it essential for avoiding cash flow bottlenecks and securing profitability. Effective ARM practices involve monitoring outstanding invoices, following up on overdue accounts, and applying consistent credit policies.

To master the AR process, there must be a thorough understanding of the lifecycle of customer accounts. It begins with client onboarding, where credit terms are established and communicated. As services are rendered, invoices are generated and sent to clients. Timely follow-ups are essential to remind clients of the schedule of accounts receivables and address any disputes or queries promptly.

At this stage, integrated payment solutions like Mango Payments come into play. These payment systems allow clients to settle their accounts seamlessly, directly from the invoices. They can also choose from various payment options, such as credit cards, ACH transfers, and digital wallets. 

Thus, integrated payments enable clients to pay their bills conveniently and promptly and reduces the administrative burden on your team. With such integrations, businesses can better manage and automate their accounts receivables, reducing Days Sales Outstanding (DSO), lowering bad debt risk, and improving working capital. 

While integrated payments offer numerous benefits, be mindful of surcharge fees, additional charges applied to credit card transactions to cover processing costs. Surcharge regulations and guidelines vary by state; some states impose caps on the chargeable amount that can be charged, while others prohibit surcharging altogether. Make sure to review these regulations to ensure your firm adheres to them. This will help you avoid legal issues and maintain trust and transparency with your clients.

5. Customer trust and security

Many of your customers might be wary about how safe it is to exchange sensitive financial information online. This is where security becomes an issue. As the provider of client services in accounting, it’s on you to ensure the systems you use are well-equipped to weather security threats.

For instance, take file-sharing for accountants. How can your customers be sure they won’t be subject to stolen data or hacked emails? When you use a software system that can help you bolster the security of your client services, it helps ensure a smoother customer experience for everyone involved.

Specifically, Mango’s suite of tools includes MangoShare, a safe file-sharing feature that guides you on how to send your tax documents securely and handle other sensitive information. You and your customers can use this feature to share files and collect eSignatures with peace of mind. The process can be made easier for customers who aren’t savvy with usernames and passwords too. As you probably already know, ease of use is another piece of the puzzle that factors into the customer service experience.

6. Regular communication

A big pain point accounting firms can fail to address is more consistent communication. While this doesn’t have to look like being stuck to your phone with your customer around the clock, it can mean sending automated email messages when things have been finalized or when there are deadlines approaching.

The beauty of keeping ongoing and open communication with your customers today is that it doesn’t have to be a big time suck for you. With the right software, you’re able to set up systems that allow you to keep a finger on your customer service strategy and have the time to execute all your accounting tasks without the extra hassle.

Accounting firms must focus on customer service

Companies with a focus on customer experience tend to drive 4 - 8% higher revenue than their counterparts. This stat alone is enough to give you a glimpse into the transformative effect of overhauling your customer experience if it isn’t garnering the results you’re expecting.

A great place to start is automation. With the right software, accounting firms can streamline their customer management workflow, reducing bottlenecks and automating time-consuming processes.

Mango equips you with the tools to take your client services in accounting to the next level. As a tool created by accountants for accountants, it comes with everything you need to create a powerful customer experience you can count on.

Time tracking and billing, due date management, secure file sharing, electronic signatures, and even payments can all be processed in one centralized system. And yes, Mango also comes with a Client Portal feature, which allows you to keep all your customers informed and engaged throughout the accounting process.

If you’re ready to try Mango Practice Management, request a demo today.