Top 10 Features of CRM Software for Accounting Firms

Top 10 Features of CRM Software for Accounting Firms

CRM Software for Accounting Firms

Customer Relationship Management (CRM) relates to the principles, procedures, and actions that a business follows when coordinating with its clients. From the organization’s perspective, this entire relationship covers direct interactions with customers, for instance, sales and service-related processes, prediction about sales or losses, and the evaluation of customer developments and assessment of the pattern of their behavior. In the long run, CRM helps to improve the customer’s overall experience.

With the purpose of enhancing productivity and minimizing the workload, many accounting firms choose software products like CRMs (Customer Relationship Management systems) that will assist them to get more clients, streamline procedures, and improve relationships with clients. The professional life of a CPA and an accountant in an accounting firm is extremely agitated. An accounting firm offers a great diversity of services to their clients, like tax planning, budgetary planning, payroll management, bookkeeping services, supervise financial audits, and may even take into account finance management.

This piece of the article gives you a comprehensive look at features of Customer Relationship Management (CRM) and how a CRM can be advantageous for CPAs and Accountants in an accounting firm.

Top 10 Features of CRM for Accounting Firms

  • CRM Data Storage: In order to make the most of the value of data, it has to be properly stored. One of Customer Relationship Management (CRM) principal features is a copyrighted method of data storage so users can draw out the data efficiently. CRMs also provide assurances of data protection and also backup data to avoid losses and safety violations.
  • Synchronization and Sharing of Files: CRM for CPAs functions as the synchronization stage for many of your external programs. Through this feature, accounting firm employees can easily upload emails from Outlook, sync with Google Drive, import spreadsheets, and more. Because of the Synchronization and Sharing feature of CRM, they can view all of their feature sets from one platform.
  • Concentrated List of Contacts and Client History: The best feature of a CRM for CPAs and accountants is that it can store all of their client’s information and makes it approachable to everyone in their team. As long as you continue to use the CRM, it also offers a distinct history of every client, so anyone from their team can easily review the work that has already been done and previous conversations and catch up where work their team member just left.
  • Team Cooperation and Document Sharing: Most CRM tools for accountants provide a feature for your firm’s team to add notes and assign tasks. Some tools also provide additional collaboration features like document sharing, email templates, etc.
  • Sales Pipeline: A fundamental characteristic of CRM tools is having a way to track the life-cycle of your clients, so you can have a greater understanding of the efforts needed to change a client from a potential client to a lifelong client. An accounting firm should be able to determine where any of its clients are on that life-cycle at a particular moment.
  • Automated Workflows: Another prime feature of CRM is the capability to initiate and run customized, automated workflows. Turning monotonous manual processes into an automatic one so it saves tremendous time. Automated workflow features generate an effective tool to motivate the team of your accounting firm and your clients to take significant measures at the right moment to keep work moving without any difficulty.
  • Lead Management for Determining High-Quality Leads: It is not possible to complete the Customer Relationship Management feature list without the lead management feature. This high-tech feature allows a CPA or An Accountant of an accounting firm to find out the best clients to follow up with them, according to population and psychographic factors. This feature helps to focus on the right leads at the right time.
  • Streamlined Client Onboarding and Management: A CRM tool specifically built for accounting firms, it offers the ability to set up and organize your client onboarding process. Through using CRM tools you can spend time and effort into customizing your client onboarding process, this will decrease the management burden on your team. With extra features like self-service client portals, document signing, and document sharing, accountants can also oversee a lot of your client administrative functions without a lot of additional burden on your crew.
  • Integrations with other Software: While it’s not a vital feature, look for CRM software that can integrate with other accounting software that you use, like Xero or QuickBooks. It can also integrate with your calendar for scheduling meetings. Getting all of your tools to integrate with one another will keep you in sync.
  • Reporting and Analytics: Data reporting is another important feature of CRM tools. Whether it’s tracking email clicks, your team’s average email response times, or other beneficial sales pipeline data, it’s important to be able to assess key performance indicators. By measuring out what is important, you can easily pinpoint ways to improve the way a firm delivers client service.

7 Best CRM Software for Accounting Firms

When choosing the appropriate Customer Relationship Management (CRM) software for your accounting firms, you should consider your budget, expandability, and ease of use. MY CPA Dashboard is the best solution for those who want to work more effectively and keep up to date on all business methods.