Client management software is a unified way to manage and track all your sensitive client information in one place. Simplifying it even further, it’s the centralized folder of your client information, which can be accessed from anywhere at any time.
It helps you strengthen your client relationships and nurture business prospects with easy-to-use, comprehensive CPA practice management software. Client Management Software reasonably organizes and stores all client communications in a single, customizable location — enabling you to record, access, and monitor every detail of client activity in your office. Whether you are an accountant, CPA, bookkeeper, tax professional or any other professional service firm – you can utilize it to manage and track client’s information at your fingertip.
Since there are few different types of client management platforms available in the market, let’s explore the differences between the two major ones, Client Relationship Management (CRM) vs Client Management Software.
CRM’s is typically used to focus on sales funnel, such as sales forecasting reports, communicating to your new prospects, and deep integrations with marketing and lead platforms. Additionally, it can be used to store a lot of client data.
They are not considered ideal for accounting firms because the feature set is typically very limited for client-driven firms.
Client management software is less about sales and more about the ongoing management of the client relationship. In the market, it is referred by many names, such as client contact software or customer management software. However, they all are work for the same goal: one source of record and a single place to manage and track your client work.
Now that we have an understanding of what client management software is and what benefits you can receive from it, let’s dive into - How Client Management Software Can Help Accounting Firms?
As an accountant, you might choose the accounting practice management software that includes the client management software module as an integrated part, it will allow you to enter new client or transaction information automatically sync to the other modules.
With everything from transaction history to past interactions compiled in one place, you’ll have a single system that covers every aspect of your relationship with each client. No more trying to backtrack and double-check figures or dates, which is time-consuming and tedious. Taking advantage of this integration makes your entire workflow more efficient.
Whenever your accounting firm brings on a new client, they should go through an onboarding process. CMS ensures your client is aware of the tasks and timelines they are responsible for while you’re providing accounting services. Everyone is on the same page, saving you time and your client money.
Features such as document storage, email templates, and scheduled reminders help you ensure that every new client receives the same information on the same timeline. The more you can automate the process, the better the experience will be for you and your clients.
When you set up a CMS, it will store all of your client information, and it’s important to make sure that everyone on your team can access and update this information easily.
Your efficient use of CMS will bring you more clients organically. Managing client information in a CMS helps you improve relationships through more personalized service. As a result, your satisfied clients are willing to provide you with free marketing through word-of-mouth and referrals. This also increases the ROI of investing in a CRM system.
Do you have a way to keep track of your client communication? If not, implementing CMS gives you this valuable tool for customer service.
By maintaining a detailed history of communications in your CMS, you can refer back to this information at any time. Every communication with the client would be stored and everyone will also be able to use this history as a reference. This way, your team can seamlessly take care of clients without having to backtrack for information. Your clients will appreciate this attention to detail, which will put them at ease. As a result, your clients will end each exchange with your accounting firm satisfied.
CMS Includes tools for building self-sufficiency among your clients. A great example of this is a CMS that offers built-in self-serve portals, which give your clients greater access to their dealings with your firm.
With self-serve portals, your clients can view their transaction history and their invoices, which results in fewer calls and emails to you. Some CMS also enable clients to make payments directly through these portals, which reduces the administrative burden on your team.
You may spend your days crunching numbers, but your focus is ultimately on customer service. With all how you could assess the right client management software for your business, it's important to start with your ultimate goal and work your way backwards from there.
Try CA Office Automation’s Accounting practice management software – it provides different modules including CMS that might help your end your search.