Sponsored content from our business partner, Receipt Bank.
has transformed the way we travel, offering speed, visibility and control.
Download one app and within minutes, a car arrives at your door. What’s more,
you have full visibility of when and where it will arrive. You have complete
control over your destination, can split the fare with other co-riders, and
know when you will arrive - give or take a few minutes.
expectation of convenience is spreading through everything, from Netflix and
entertainment to Deliveroo and eating.
authorities are also responding to changing client expectations. Clients now
expect to manage their businesses from their phones and work on the go. 84% of Australian SMBS have a smartphone, and
they expect their data to go with them. If your firm does not adapt, you risk
getting left behind.
do you evolve your service for the Uber-generation and bring it into the now?
You need three things in place to build a stand-out service from offering
real-time, or close to real time, insights.
1. FAST EXPENSE PROCESSING
Data comes first. Are your numbers up-to-date and correct? You need to get data from
clients quickly, while it’s still useful, and avoid lost paperwork. Use a tool
like Receipt Bank to get data instantly from your clients. When they receive a
receipt, they can snap a photo using the mobile app. This sends the data you
your clients, having accurate data and perhaps most importantly, visibility of
that data can help with everything from securing funding and budgeting more effectively
to better decision-making. Receipt Bank gives you visibility into your clients’ financial data at anytime, from anywhere.
2. STAYING IN CONTROL OF YOUR FIRM
Adopt scalable processes and solutions. You can’t have every client adding hours to
your workload each week. You need to find automation opportunities that enhance
your client experience, and improve your efficiency.
enter a discovery phase where you list the services you offer to clients. From
here, examine what client pain-point each service solves, and what your clients
value. Seek out technology that addresses these pain-points. Also keep in mind
what your clients value, such as timeliness, transparency, or accuracy
redesign your workflow accordingly with technology. Implement your technology
stack, test internally then roll out to clients. You can then use your tech
stack to differentiate your firm from others, attract the clients you want to
work with, and provide a fantastic stand-out experience.
already use technology, run an audit on how you use each solution. Look to set
goals within your team to encourage increased efficiency, and to increase that all-important client to staff ratio.
3. ACCESS INFORMATION FROM ANYWHERE
Shoeboxes of bank statements and bags of receipts carry a hidden cost. They cost time
when organising and filing documents, and human resources when your team spends
too much time managing and searching for documents. This means wasted time,
space and often, lost or misfiled documents.
good news is you can manage your data securely online, so you can move
information faster and more efficiently. By moving to cloud technology
solutions, you can finally drop the paper and have everything in one place.
Everything is under your control.
all, once you have the above in place, you can establish key performance
metrics to track it all. Here are some metrics that you can use in your firm,
and incentivise your team to meet them:
attach rate: the more of
your clients who use your service and follow you recommendations, the
submissions: how are your
clients submitting paperwork? The more often they do, the better.
engagement: Are they
interacting with you often? Hopefully that means they’ll see value when
you send them the next invoice.
- Stickiness: another word for retention. How
loyal are your clients?
speed and visibility is no longer a nice-to-have. It’s a must. Ultimately, by
spending time on insights rather than inputting data, you’ll truly be creating
a stand-out service that meets your client expectations.
out more about how Receipt Bank can help you maximise time on insights and
minimise time time getting data. Visit receipt-bank.com/gift100 to find out