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A process approach to accounting increases efficiency and improves the client experience, provided processes are monitored and modified as client needs, laws and technology change. Discover what you can gain from your accounting firm’s process approach.
What is a process approach?
A process is a logically ordered sequence of activities producing a result, such as a product or service, used by a client. Every company comprises interwoven processes whose identification improves operations and efficiency.
A process approach in accounting focuses on analysing and managing business processes. It contrasts with the traditional transactional approach treating each operation separately: it sees accounting as integral to business processes and provides complete service from placing an order through payment and recording the transaction.
It delivers comprehensive accounting services, including invoice processing, payroll, financial statements and business cost management. All accounting processes are then analysed for efficiency, completeness and legal compliance. The approach may also include technology, such as automation or IT systems supporting accounting.
How does a process approach work in an accounting firm?
It derives from Deming’s 14 principles, specifically breaking down barriers between departments. Departments should together form a smoothly operating organism, requiring information exchange and process monitoring.
Precise process planning requires every department’s involvement and ongoing efficiency control. In a firm offering broad services, including accounting and finance, HR and payroll, tax advice and more, processes must give clients security and continuous information access.
At TaxCoach, every client has a dedicated account manager handling communication by email, phone or chat and responding quickly to requests and needs. We also provide an encrypted client portal with 24/7 access to private documentation. Our process approach improves internal control, but above all speeds up use of services and enables personalised delivery.
Features of a process approach
Some distinguishing features are:
● focus on processes – analysing, designing, managing and improving business processes,
● an end-to-end approach – holistic management from start to finish,
● focus on results – achieving expected outcomes through effective process management,
● identifying client needs – understanding needs and reducing elements harming satisfaction,
● better interdepartmental cooperation – treating the company as one organism whose departments work together,
● openness to change – dynamic processes undergo continuous monitoring and improvement.
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A process approach and client benefits
A process approach in an accounting firm benefits clients in many ways. It calls for holistic company management, from identifying client needs and providing resources for processes to improving the system to maintain satisfaction.
The main client benefits are:
● Higher service quality – analysing business processes identifies areas needing improvement through removing errors, eliminating unnecessary activities or increasing consistency.
● Faster services – identifying delays and downtime in client service allows high-quality accounting services to be delivered faster and more efficiently, improving satisfaction.
● Personalised service – understanding client needs and expectations better allows processes to be adapted to individual requirements.
● Greater transparency – transparent, open processes let clients know what to expect at each stage, increasing trust and building long-term cooperation.
● Faster problem resolution – understanding and locating problems arising during service makes resolution faster and significantly improves quality.
● Better information access – IT systems supporting accounting provide real-time information and documents, around the clock from anywhere with internet access.
The main aim is higher accounting service quality. Client benefits significantly improve satisfaction and encourage continuing cooperation.
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