Whether you still accept shoe boxes full of receipts or prefer newer methods, it’s time to give your clients an expenses health check to ensure you’re offering the best solution, and not just the solution that suits your practice.
What happens when your client tells you that they want to use the latest and greatest solution that they have found? Do you embrace it, or tell them very politely that it’s your way or the highway?
In a recent customer success call, a customer was told that they could only use the solution that their accounting practice supported, and wouldn’t consider any others. The client had done his own research and found one that best suited his needs, one that prevented his employees from having out of pocket expenses and gave him a much greater visibility of company spending.
Carefully crafted partnerships
Understandably, our customer couldn’t understand their accountant’s rationale and chose our solution anyway. Finding the balance between a walled garden of carefully crafted partnerships that you recommend and opening the floodgates to whatever clients want to use is difficult, but it is important to keep an open mind.
Few who entered the industry probably expected that they would also have to become a technology expert but with just a brief look at the Accountex exhibition and conference list, that’s exactly what many have had to become. Accountex really shows the amount of choice now on offer, and it’s the perfect setting to create new partnerships to ensure you can continue to offer the best solutions to your clients.
In a recent case study with Sacred Spirits, Expend learnt that while head office expenses admin had dramatically reduced from nearly a day a month to 20 mins. They estimated that they had saved even more money by using Expend’s connected payment card to pay for the their expenses abroad due to its zero fee foreign exchange rates.
These extra savings are crucial to fast growing SMEs with global ambitions, and is a prime example of value added extras that help to differentiate potential solutions.
Seamless real-time view
So with global business travel spending worldwide forecasted to rise from about $1.3 trillion in 2016 to $1.6 trillion by 2020, it’s not just time and efficiency gains that can be made or clients.
It’s also crucial to ensure that these added solutions don’t increase the workload further. This is especially true In this interconnected digital accountancy world, one that increasingly demands a seamless real-time view of company finances. Simply being the fastest and greatest expenses solution isn’t enough. The quality of integrations with the likes of Xero and Quickbooks matter just as much.
It’s important to pick the right solutions that are not only flexible to your needs, but provide the insight you need to make and advise on crucial business decisions.
So it’s time to give your clients an expenses a health check and explore what else your practice needs in its toolkit.
Expend will be on Stand 951 at Accountex.