Senior accounting managers do not need an explanation of the basics of addition: the more that gets added, the bigger things become.
This core principle leads accountancy firms to seek new clients and winning them over can feel like an incredible victory, especially when client fees start hitting the balance sheet.
Something else that grows at a commensurate rate is the amount of work to do, something that often takes the shine off success.
Is there a limit on how quickly accountancy firms can grow, or are there ways of unlocking your team’s full potential?
Why does winning more client work overwhelm accountancy firms?
For accountancy firms looking to grow, drawing the line between what your team can handle and what is needed to meet financial goals can feel challenging.
If client work is available to win, then it seems illogical to leave it sitting on the table.
However, being too hungry to onboard new clients can result in team members feeling as though they have too much work to do and the standard begins to decline.
Smaller accountancy firms often find that their systems were not as robust as they initially seemed, as something that might work for 100 clients proves clunky and inefficient for 300.
In the wake of sudden growth, many senior managers are faced with a sobering realisation that the firm can no longer support the full client base.
At this point, the options are to hire more staff, let the quality of work slide or terminate contracts with clients.
None of these options are ideal, as even bringing on more staff can end up eating most, if not all, of the additional revenue brought in by the new clients.
At that point, senior managers may wonder why they bothered going after new clients at all.
This manifests as a fear of growth, leading to accountancy firms stagnating as they are unable to take risks and unleash their full potential.
How can more client work become a positive for accountancy firms?
While it would be excellent to live in a world where more money came in without increasing the amount of work done, this is not currently how things work.
The closest thing that a senior manager can get to this is by utilising technological solutions effectively to limit the amount of additional work each client brings.
There is a high volume of tedious tasks that need to be completed for every client, as well as a continuous stream of chaser emails that are the only hope of securing vital information before deadlines.
When teams are devoting their time to this kind of work, they are not applying themselves to the work they actually trained for and it is clear that the firm will become overwhelmed by any major growth.
Offloading tedium and chasing technology can give accounting professionals more time, allowing them to enjoy taking on new clients and doing higher-quality work for the full client base.
Glasscubes is accounting software designed to support accounting firms in delivering the high-value work they have always dreamed of doing.
Its simple design allows team members to become comfortable with the system while the workflow visibility ensures that senior managers can keep an eye on how implementation is going.
Tedious tasks and client chasers can be automated, with dedicated reminders set at the cadence you choose, allowing you to tailor it to specific clients.
If you know one client always needs ten reminders for every return, you can set this up for them without other clients feeling pressured by the same level of chasing.
When new clients need extra attention to get them onboarded, this can be automated with Glasscubes.
Giving your accounting team the time to deliver the personal touch when needed can improve client satisfaction and turn new clients into regulars who may then refer you to other businesses.
Give your accounting firm the space it needs to grow by booking a demo today.
