The accounting industry suffers globally from a few major pain points. Growth goals often are stifled due to the difficulty of creating a systemized workflow. Cross-training is dependent on documented tasks; documented tasks are dependent on a complex understanding of the process.
To have a vast knowledge of various accounting firm processes requires a high level of accounting and ERP (accounting software) knowledge.
Documenting workflow is time-consuming. Since most accounting firms struggle to complete the current workload, it is daunting to demand another tedious task.
It is no secret that one of the industry pain points is onboarding new clients. Every year there is a surge of small businesses seeking help with accounting services. Firms must have a straightforward and effective onboarding workflow process to successfully and painlessly accept this responsibility. If an accounting firm does not have transparent processes, loss of leads and poor client experiences can be expected due to lack of communication and task effectiveness.
So, where do we begin to fix this problem?
In this series of articles, we will dive into each of these focus areas to bring you insights into creating an effective onboarding workflow for your firm and how to use technology to document and track tasks.
Process Evaluation
As you begin to think about the various pieces associated with your work and try to puzzle together a process map, ask yourself these questions:
- What is the primary purpose of your business?
- What essential tasks must be performed to fulfill the primary business purpose?
- What work needs to be accomplished to support the business's primary purpose?
- Who are the team members?
- What critical tasks do these team members need to accomplish to fulfill the business purpose?
Once determined, start documenting how these bullets are performed and by whom. Next, begin outlining the tasks needed.
Research
Researching the available resources can help you piece together your most effective workflow process. Here is a list of different apps and resources that can help streamline your onboarding process:
- Organizational tasks diagraming
- Intake proposal options
- Scheduling solutions
- Workflow management
- File storage options
- Security
- Troubleshooting/testing
Before implementing this new workflow into your firm, it is best to test with a few real time leads and prospects. There most likely will be holes in your process, which is entirely normal when developing new strategies.
Implementation
The final stage is implementation. There are several things to consider when implementing a new workflow. By utilizing effective change management techniques, this can be a breeze. Your team must know and understand their part to keep the ball rolling in any workflow.
Stay tuned for article two as we dive into different methods of process evaluation and examples to get you started. This can be beneficial for any process/workflow you are trying to develop.
Liz Scott is a multi-business entrepreneur working to bring together technology and accountants through her business, Liz Scott Consulting. A member of Intuit Trainer/Writer Network, she authored and taught Master level courses, including Advisory Guides and Consulting Tools for Accountants. In addition to Liz Scott Consulting, she also owns Accounting Lifeline, a firm to serve small businesses with their financial needs. Liz is a co-host of the "Appy Hour," which helps other accountants learn about the different tools and apps for small business needs. Holding a high passion for real estate investment, she owns properties throughout Oklahoma.