This report has been modified for different regions, click here to access the AU version or the UK version.
With unrecovered out of scope work costing accounting and bookkeeping professionals over $76k per year on average, US firms are leaving money on the table.
Hear from our expert panel about Ignition’s latest research insights on the cost of avoiding awkward situations, and the tools and strategies your firm can use to put an end to these.
If you work in the professional services industry, awkward client situations will invariably occur. Our report shows that delaying or avoiding these has considerable financial costs for firms – with 41% of accountants and bookkeepers experiencing a loss of potential income for the business by putting off an awkward client conversation. What’s more, unrecovered out of scope work is costing accounting and bookkeeping firms in the US over $76k on average each per year.
The more we highlight the issue, the more we can share solutions that help overcome these situations and improve client relationships.
There is a significant human cost to avoiding or delaying awkward client conversations. Accountants and bookkeepers tell us that in some cases, delaying or avoiding these situations has led to staff overworking, taking more time away from work or going as far as to resign. Thirty percent of accountants and bookkeepers who have avoided or delayed an awkward client conversation said staff have quit as a consequence.
Accounting and bookkeeping firms can no longer afford to put off these conversations. Read the report and #shareyourawkward client conversations with us.
Awkward client conversations are adding to the pressures on accounting and bookkeeping firms in the post COVID-19 world as they also face workplace trends such as ‘quiet quitting’ and ‘the great resignation’. We look at some of the issues confronting companies while psychologist Clare Mann offers advice on how firms can act to make life better for themselves and their clients.
Awkward client conversations are the norm in the professional services industry. Our report uncovers the effects that delaying or avoiding these has on accounting firms and their employees. Find out why:
✔️ 80% find chasing clients for late payments awkward.
✔️ 67% said delaying or avoiding awkward conversations has impacted their client relationships.
✔️ 67% said errors in proposals sent manually have led to awkward client conversations with clients in the past.
Read full report
At Ignition, we believe that while life can be awkward sometimes, your client relationships don’t have to be. With the right tools, accountants and bookkeepers can get on the same page as their clients right from the start and face these awkward client situations head-on, to spark lasting client relationships.
Unfortunately, Ignition doesn't support payments in South Africa, but it's something we're working on in the future.
You'll still be able to engage clients seamlessly with online proposals and automated engagement letters, and run your business on autopilot by connecting apps to Ignition.
