Monday, October 2, 2023

How CRM Can Help Accountants Stay Competitive in the Digital Age

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In a world which is overburdened with data and personalization, a special touch of personal details makes clients feel valued and hence engaged. To achieve competitive advantage over your competitors and also to build business, an integration of accounting and sophisticated CRM or Customer Relationship Management tool becomes essential.

A CPA firm in today’s world has to understand the complexity of business needs and tax laws by accurately recording revenue sources, reducing errors associated with data entry and amalgamation of departmental insights in order to get paid.

Keeping a balance between the above mentioned task and strong customer relations is not easy to maintain without a proper technological tool. An integration of CRM software with accounting can help to reduce this problem as organizations can manage their workloads better and incorporate tools which improve professional operations without having to sacrifice, the personal touches which differentiates a firm from others. 

CRM software is a broad virtual assistant which helps accountants to keep a track of customer data and interactions, streamline various process like such as communication by integration with data services provided by a third party.

As more companies transit towards cloud technology and as businesses processes navigate new regulatory framework and hybrid work model, CRM software has become a critical addition to the CPA toolbox.

Lets see why your company should consider utilization of a cloud-based CRM system? We have compiled a gripping list of five factors below:

1. Effective Communication with Clients

Imagine you are able to respond to the queries put upon by clients belonging to different regions of earth from one single platform! Wouldn’t it be great. Same purpose is served by the CRM tool where it authorizes CPA to send automated responses to specific customers, segment clients using demographics, and send scheduled emails and newsletters without having to click outside the app.

Previously CPA had to manually keep client records which would make the market efforts, selling and customer support dull. A technological solution to this problem like a CRM tool can get them a 360 degree view of customers. This allows accountants and financial managers to have more effective communication with clients, offering a more personalized experience without creating more work.

ConvergeHub allows pin point targeting of customers through segmentation and automated email campaigns. This allows CPA to stay at the number one position for existing clients and new ones. Whether it’s about cross sale of new opportunities, sharing relevant tax updates, reminding them about deadlines, offering financial advice, better client communication increases the likelihood that they will remain loyal to you in the future. 

2. Improving Lead Relationship

Managing strong relationships with clients provides an upper hand over your competitors. A report says that 40% of accounting firms have still not installed a CRM tool in their system giving you an immense opportunity to color your firm differently. Managing these tasks through a CRM not only ensures organizations to communicate quickly with clients but also grows a personalized touchpoint.

CRM tool allows you to store important information about each lead and client along with data of previous interaction like communication, outreach, notes etc. This innovation allows CPA to mark essential client information like birthdays, anniversaries, client interests and builds an emotional connect with each interaction. Customers feel valued when CPAs remember details of their previous interaction. This helps meetings to be run more smoothly and CPAs can pitch with a new opportunity at the right time

3. Improve Tracking of Sales

After enhancing your communication with clients, it’s time to track the place where a particular customer is located in the sales cycle. One of the most important features of a CRM tool is the ability to track the movement of a client through the sales funnel. BY unifying important information about each client and the interaction held with them, you may identify trends showing leads turn into lifelong clients.

CRM software helps an organization to create a sales pipeline which could be customized with easy-to-consume business traction snapshots. A few clicks is enough to tell a CPA the location of each lead in the process so that proper targeting could be done.

Incorporation of stats, custom dashboards, tables, charts can help you identify your position in sales forecast and performance, clear information of your business operations and market adjustments in real time. 

4. Combine all the apps to streamline tasks

After an organization becomes expert with a CRM tool, it may begin to enhance its skill with a bunch of third party integration, some may be fee while some charge you monthly, to grease your machine even further. A few of such CRMs like Active Campaign and Zoho are configured with hundreds of different plug-ins and services to converge various business aspects together at one place.

One of the most useful summation for accountants is with QuickBooks as it instantly sync invoices, customer data and payments between CRM and the Intuit software. This offers accountants to have a complete view of a client’s account and easily input different types of data from other sources which can be integrated like Quickbooks. Integration of Quickbooks generates real time expense reports with receipts directly getting imported to CRM such that CPAs may smoothly combine personal and business expenses without those requiring to be input manually for various reasons like bill for client taxes. These combinations automate the accounting process by combining multiple data sources effortlessly.

5. Manifest your Marketing Power

What other can you do with a collection of lead, sales and client data all at one place? Enhance your marketing potential to build deeper relation with existing ones and attract new leads. Integration of CRM with different types of software allows organizations to send out different types of marketing campaigns such as automated text message, email newsletter and scheduled phone calls.    

CPAs can skillfully sell their services by setting various forms of process such as drip campaigns which are defined as a bundle of pre-written messages to be delivered to prospects and customers at specified dates and times.


As the world today has become highly competitive with customers left with numerous options to choose from, responding to customer queries is the most important parameter to sustain. Hence companies should start investing in CRM tool to take their business to the next step.

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