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Tech Insights 4 min read

5 reasons for implementing an accounting CRM

Accounting CRM is a clear testament to how this type of management software is useful for more than just your marketing and sales departments (contrary to what some may think).

In fact, a properly implemented CRM (Customer Relationship Management)centralizes all your information and brings together all your organization’s stakeholders (clients, external collaborators, vendors, suppliers, etc.). The result? Your relationships and interactions become so much easier to manage.

Here are 5 good reasons why you should implement an accounting CRM to help your business grow.

1. Accounting CRM is highly compatible and user-friendly

You don’t need to be a savvy digital and tech expert to benefit from the features of CRM. Indeed, once properly implemented, an accounting CRM will make your life so much easier. Firstly, you will be able to integrate accounting software that you use internally in no time. In particular, we’re referring to tools such as:

  • QuickBooks
  • FreshBooks
  • Sage
  • Wave
  • Xero

Regardless of which accounting tools you use, it’s usually very easy to add them to your management software to create budgets, track invoicing, send quotes or perform calculations within a few seconds or less. You will then automate and centralize a number of accounting tasks within your management system.

Additionally, by adding artificial intelligence tools (French-only link) to your CRM, it will be even easier for you to process information and make decisions.

What’s more, accounting CRMs (and CRMs in general) stand out due to their highly ergonomic design and simplified interface. The more you use them, the more they adapt to meet your needs, offering you customized options.

2. It simplifies your client data processing

“Data collection” often implies a huge flow of information. It’s sometimes difficult to know where to start, even for a seasoned accounting expert! This is where an accounting CRM becomes useful. It saves you a significant amount of time so your team doesn’t have to dig through a huge pile of documents or a multitude of Excel spreadsheet columns to find the information that you need.

Accounting CRM implements an automated workflow so CPAs (certified professional accountants) can work much more efficiently, in a number of ways:

  • By letting you view all client information
  • By automatically deleting duplicated information
  • By standardizing some processes with low added value for clients
  • By letting you avoid any repetitive tasks
  • By implementing automated reminders
  • By automatically filling in information that’s already known in the customer file

With these automation and data centralization procedures, you will be able to use your data much more efficiently to learn about your clientele, improve your strategies, follow up with clients and maintain an overview of all your activities. These are all valuable features for accounting experts !

3. It’s an incredible communication and collaboration tool

A CPA equipped with the right tools in their accounting CRM can avoid working in silo mode, off in a corner by themselves. This constitutes a huge advantage, as it gives them access to all important information about your clients, sales, purchases, taxation or financial partners. Everything is collected, organized and shared instantly, without you even having to think about it.

Often, accountants need fully secure communication with some clients; thanks to CRM, all communications are continually saved. You can therefore access a detailed history of all discussions that have occurred between your collaborators and your accountant. It’s a great way to minimize communication errors. Furthermore, with an effective CRM, accountants can generate automated workflows, for example, to send reminders or follow-ups to clients.

Additionally, by integrating collaboration tools such as Microsoft Teams into your virtual workspace, accountants can then participate in your meetings and discussions, as well as give presentations quickly and easily.

Basically, by integrating your accounting department into your CRM, you will streamline and synergize your communications and collaboration. Hence, accounting experts gain more independence, enjoy a constant 360-degree view of their clients and work more efficiently.

4. Accounting CRM improves a number of your marketing activities

That’s right: marketing and accounting sometimes need the same information to work more efficiently. By implementing an accounting CRM, these two departments can easily perform multiple sales, marketing and management actions, among other tasks. We know just how tightly all these business functions are interconnected.

Here are a few examples of marketing activities that are made more efficient with solid, easily mined accounting data:

  • Targeting and segmenting your clients
  • Integrating your clients into the CRM
  • Analyzing your advertising campaigns and generating reports on them
  • Automating marketing follow ups

You can also share your availability, schedule meetings and remind each other of upcoming deadlines you must meet to achieve your growth objectives.

With all the required accounting information at their fingertips, marketing experts are equipped to more effectively evaluate the efficiency of implemented strategies. They can use better key performance indicators (KPI), create daily dashboards and improve the return on investment of your online marketing. After all, it’s always easier when the right numbers are only a few clicks away!

Furthermore, with a CRM, accounting experts who work for multiple clients can offer better service and increase customer loyalty, notably by automatically sending newsletters or responses. Accountants also need to promote their services and improve the client experience of the businesses that hire them.

5. It gives you access to your files from anywhere, any time

We all know that teleworking is more popular than ever (we don’t need to remind you why!). As such, more and more businesses need easily implementable solutions for improving teleworking.

With an accounting CRM, CPAs can easily access your business files at any time to perform any type of task remotely.

Even without access to their desktop, your accountant can still make progress by accessing your files via their tablet or smartphone. Therefore, telework or unexpected issues won’t stall your growth or result in missed deadlines.

Additionally, if you have outsourced your business accounting, the external experts responsible for this task will never need to pay you a visit or email you for access to essential information. With a shared, secure CRM, everyone will save valuable time.

Profit from your investment in your accounting CRM

Every good accountant likes to make the most of expenses, whether their own or those of your business. Why not do the same for your accounting CRM tools? By relying on experts who can properly assist you, you can count on higher profitability from your management software.

A CRM is a significant investment, so you shouldn’t let just anyone implement yours !

With 20 years of expertise in CRM solutions, we help businesses of all sizes implement the best management software that will grow with them and allow them to achieve their objectives. Benefit from the best advice regarding your accounting CRM.

Contact us to learn more about our CRM solutions.

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January 06, 2021 by Frédéric Charest VP of Marketing

Data-driven Growth Marketer with a Passion for SEO - Driving Results through Analytics and Optimization