The biggest secret behind client retention? Keeping the customer happy and satisfied. Unfortunately, too many small business owners don’t have enough time in their day to focus on strengthening client relationships because they’re too caught up in manual business processes that are time-consuming.
For business owners to get tasks done faster, they need to seek tools that help them increase speed, improve efficiency, and fine-tune workflows. This is where cloud accounting comes in.
According to predictions by Intuit, 78% of small businesses will adapt to the cloud by 2020.
Why? Companies are hungry for solutions that will make work both simpler and less prone to error. And that’s what cloud accounting offers.
Many traditional accountants may argue that cloud accounting involves the same processes; the only difference is that the data is stored in the cloud. While by definition, this is true, cloud accounting is so much more. Here are three reasons why cloud accounting improves the accounting process, leaving business owners with more time to build customer relationships and improve client retention:
Automate Manual Processes
Manual tasks that are tedious keep you away from focusing on nurturing client connections. Instead of focusing on your customers, you find yourself spending a large portion of your day maintaining, documenting, and organizing payments and receipts. You’re probably also doubling back to ensure no mistakes were made.
Cloud accounting software enables both accountants and business owners to automate high-volume tasks that are routine and are prone to human error. With automated data entry, you can focus more on business growth and client retention.
Give Customers Peace of Mind
Clients want to do business with companies where they know their information is secure. Because your data is all in the cloud, it is much safer than if it were held in traditional storage such as a filing cabinet. If your data is stored in-house and something were to happen to your hardware such as fire, flood, or theft, all your files would be lost.
Because your data lives in the cloud, there’s no need to keep stacks of paper documentation such as receipts or invoices. Once you’ve gone digital, you’ve taken the first steps to becoming an eco-friendly company. When customers know that you’ve gone paperless for the good of the environment, you will gain more loyalty from clients who prefer to do business with companies who have a sense of social responsibility.
What business doesn’t want to improve productivity and ultimately see an increase in profitability because of an increase in customer retention? Cloud accounting allows small companies to have effective processes in place that enable them to enjoy streamlined workflows and positive outputs.
When accounting tasks are made easier for you and your accountant or bookkeeper, you make more informed decisions because you have access to the data anytime and anywhere there’s a Wi-Fi connection.
As a result, clients are happy, and retention is improved. And with satisfied clients, you may even gain new business from referrals.
Until the next time,