Over 70% of accountants agree to the fact that they are more comfortable communicating with clients than with in-house people. This indicates to us that internal communication needs critical attention to drive operational success in accounting firms. Since accountants like CPAs, CAs, and CMAs work is more connected with papers and analysis, communication becomes the utmost imperative. So let’s try and explore some deep insights that can bridge the challenge to improve both the internal and external communications of accounting firms.
Attrition Spikes
A fundamental problem CPA and CMA face is the Clientele response rate which is far higher than coworkers. Over 70% of accountants with global CPA/CMA eligibility feel this concern. This gap stresses the CPAs and CMAs as senior accountants to invest extra time and effort to communicate business goals with coworkers and over 40% of them either resign or join competitive companies.
Crossroads
Around 37% of accounting firms have an idea of how to go about finding effective technological platforms and solutions to improve the communication system within the organization. We understand not all firms are of the same size and management, however, there are some widely accepted technological capabilities used in improving communication efficiency and putting conversation into context. By thinking of cloud architecture, global accounting professionals like CPAs and CMAs can help the team not only get requirements faster but also enable the execution of goals in real-time.
Accountant’s Angle
Over 60% of accountants in public accounting firms feel that their meetings with the in-house team can be done via online calls or zoom meetings using Slack. Group conversations improved 55% of clientele expectations and have driven 50% of productivity among employees.
Accessibility
More than external clients, internal coworkers share proximal relationships with auditors. Unlike clients who have few technological platforms to get connected with auditors, coworkers have greater access as they can stand by the table, leave a message on a sticker, email, WhatsApp, ping, or even set an internal meeting via zoom call. All these auditors can record to prioritize goals and engagements, and this practice has greatly improved operational efficiency and maximized end results in companies.
IT-Integrated Accountant
The hiring strategy in companies has shifted as 80% of companies are looking for accountants with IT skills to effectively communicate with fellow employees and clients to drive results in a fast-driven environment. With accounting going beyond bookkeeping and financial statements to business partnerships and predictive/ descriptive analytics & reporting, the volume of accounting tasks is huge. Agreeing this fact, over 92% of accountants agree that they are confronted with communication challenges.
