.webp)
Justine Marshall (Pinpoint Bookkeeping), Penelope Allard (Wild Bookkeeping) and Kayleigh Graham (Telleroo) sit down to discuss how bookkeepers can navigate 2024's challenges for maximum reward.
Many clients are feeling the squeeze, with increased costs and tighter margins. Some will be tempted to cut expenses, which could include their bookkeeper if they don't appreciate their value to the company. Conversations amongst accountants and bookkeepers have revealed that clients are increasingly price-sensitive.
Leveraging technology and streamlining processes can assist in keeping services affordable for clients. Yet, one of the most pressing challenges remains: effectively conveying value and convincing clients of the necessity of a competent bookkeeper.
For clients, a firm grasp of their financials is non-negotiable for their financial health and overall success. It's crucial that bookkeepers, as financial professionals, communicate this value effectively to clients. It's the absolute foundation to any other service that can be offered. If that's not right, then none of the rest of it is going to be right.
Watch Penelope demonstrate how to communicate value to clients:
Further reading: A Change in Approach: The Value & Price of Bookkeeping Services
There is a whole ecosystem of apps available to support bookkeepers in their work. But with ever-changing advancements, it can be a challenge to keep up. However, it's important to keep educated, making sure that clients are on the right software for them, and bookkeepers are using the right software for their own needs.
There are a lot of clients that still send paper envelopes. Sometimes it can be quite difficult to move their mindset because they don't really understand how things have moved on and how much easier their life can be. Communicating that benefit is a really important task.
Plus, there are certain software adverts, that give the impression that you just press a button and the software does it all for you. All without expressing that you need to put the right information in first before you press the button.
Simplifying in this way can lead to clients trying (and often failing) to do aspects themselves. But this does depend on the client. Some will do a lot of work themselves, but under their bookkeeper's guidance. Those clients have been given the training to start with, and are then able to pick up certain areas. Other clients either can't do it, or don't want to do it, and then there's a full service option. It's just so important to communicate to business owners for them to get advice from somebody right at the beginning, to avoid major issues.
Kayleigh @ Telleroo's take: I think this is really important from a transparency perspective. Most software companies, us included, have two main channels. One which is directly to businesses and one which is partnering with bookkeepers. Often the messaging of those two things are not married up. It's really interesting watching when there's sometimes disparity between them. And that actually there needs to be a piece that says you could probably do this on your own, but make sure you're considering this, this and this. Or come over here to our bookkeepers and have a different conversation.
Further reading: How to charge: Navigating Software Costs in Bookkeeping & Accounting Services
Keep your momentum going đ with:
%20(1).webp)
.webp)
.webp)