What does it mean for accounting firms to add value for their clients? And how does your accounting firm find the right people to support your company's mission?
The following is an excerpt from our webinar, “Automating Accounts Payable (AP): How Ignite Spot Accounting Services Automates AP, Removes Human Error, and Improves Client Services.”
How Ignite Spot Adds Value for Clients
Ignite Spot’s goal is to be able to provide financial information as fast as possible to clients. Of course, that depends on what level of service the client has. By making sure they have the information available at their fingertips for making sound business decisions, clients are able to progress and make decisions faster, sometimes as often as daily or weekly.
Ignite Spot looks at how they get information from clients and works through that process. Sometimes, from a financial standpoint, that means working with clients and discussing outsourced CFO or controller services.
Ultimately, clients should expect to have the ability to make decisions with their finances quite a bit faster than if they’re doing their accounting themselves or if they have someone coming into their office. Ignite Spot uses both automation and expertise to provide timely information.
Recently at an accounting conference, a discussion came up about the primary reasons why people switch their accounting firms. The number one reason was that the accountants do not give proactive advice, only reactive advice. This need to be proactive resonates very well with Ignite Spot’s mission and experience.
Proactive vs. Reactive Advice
Proactive advice is essential. Imagine getting your paycheck and not knowing how much money you have in your bank account.
You wouldn’t be able to see your balance again until your next paycheck. In the meantime, you're spending, functioning, doing, keeping, and maintaining. But you have no idea how much money you have left. This is very similar to what business owners go through. However, they also have their customers and their employees to worry about, not just themselves.
When bringing on new clients, often their books are months behind. Many times, new clients don't see what's going on in their businesses. It’s very rare to find a new client whose books are completely current, with everything nice and organized as if an expert accountant was taking care of things.
Finding the Right People
Part of the solution is technology, and part of the solution is people. You need both. But how do you find the right people that are aligned with your company’s mission?
Initially, Ignite Spot focused only on looking for employees in the state of Utah where they are located. It advertised as much as possible to college students in Utah. And they tried to find people with vast amounts of experience. As a virtual company for its customers, Ignite Spot decided to be a virtual company for its employees as well.
Now, Ignite Spot advertises across the United States looking for new employees. They’re not focusing on the local market. Instead, they are connecting and launching in a further space which has helped quite a bit. They’re not just gathering people who are local, but instead finding people who have the same goals in mind.
On Glassdoor, one review says that Ignite Spot is always staying on top of the latest technology and software on the market. And Ignite Spot is an accounting firm that is always looking into the future with a constant goal of becoming even better than it is today.
Do you find it challenging to recruit the talent you need to grow your accounting firm? Tell us your thoughts in the section for comments below.
To learn how Ignite Spot Accounting Services automates AP, removes human error, and improves client services, watch the webinar recording on “Automating Accounts Payable (AP).”