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Making the shift from

CLIENT SERVICE to

CLIENT EXPERIENCE

Making the shift from

CLIENTSERVICE to

CLIENTEXPERIENCE

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TABLE OF CONTENTSQuick Link

TABLE OF CONTENTS

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

The Evolution Of Technology In The Audit Profession . . . . . 5

Initiating A Ripple Effect Of Positive Change . . . . . . . . . . . . 7

Firm Success Story . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

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The evolving and necessary role of technology in providing a superior client experience every timeWithin the past few years, the profession has experienced a seismic shift—moving away from a focus on basic service (work performed) to client experience (the entirety of every client interaction throughout the work cycle).

This transition has been driven not by the profession itself, but rather by today’s highly tech-savvy consumers who expect service that is immediate, convenient, and on their terms. Clients today demand not only a superior product or service…they demand an experience.

response, consumers quickly began to expect a new level of “customer obsession.”

This shift in service demand is not limited to the broad consumer market, but has infiltrated markets of all sizes and across industries—including audit. In response, firms have adopted advanced cloud-based technologies that streamline internal workflows and elevate client interaction via collaborate work environments that deliver real-time results. Those firms that truly understand the value of client experience over basic service delivery are those that will prosper through the Age of the Client.

The shift from service to experience becomes even more clear when plotted on a timeline. Since the 1900s, we’ve witnessed the dawn of four significant Ages: Manufacturing, Distribution, Information, and currently, the Age of the Client.

The explosion of technology innovations in the ‘90s gave power to the the creators of those innovations. Internet giants such as Amazon and Google supplied and controlled the flow of information. Over time, these innovations opened the door to anytime-anywhere service, which by 2010 handed the power over to consumers. Immersed in real-time data sharing and on-demand

service experienceAge of ManufacturingRise of mass manufacturing fueled the industrial market

• FORD• BOEING

Age of DistributionStructured transportation systems supported global connections and made distribution key

• TOYOTA• UPS

Age of InformationTechnology connectivity and supply chains gave power to those that controlled information flow• COMCAST• GOOGLE

Age of the ClientEmpowered consumers demand a “client obsession” level of service

• AMAZON• EBAY

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The

EVOLUTION OF TECHNOLOGYin the Audit ProfessionThe profession as a whole has experienced mass change over the past decade—with technology lead-ing the charge. Professionals have witnessed the release of multiple technologies—each developed to help firms run at peak efficiency and better serve their clients. The same is true within the audit profes-sion with the release of newer, smarter technologies each year—always with a core objective to simplify and streamline audit operations.

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Specifically, the evolution of the audit confirmation process offers a sound example of the positive change taking place within audit firms. For years the audit confirmation process was plagued with multiple steps and volumes of paper—the average confirmation requiring a 4 to 6-week turnaround. The advent of integrated systems and internet-based applications helped remedy these issues.

Today’s advanced audit solutions support online confirmations, powerful validation functionality, and the highest level of security.

The transition from a manual, multi-tiered audit confirmation process to a highly efficient electronic workflow has fueled the audit profession to greater heights of productivity. And all of this has led to happier staff, a positive work culture, and ultimately, better served clients.

“Today’s advanced technology eliminates the need for manual

work altogether, including automating routine tasks such as processing confirmations.

The power of a true automated system delivers unprecedented

efficiency across audit work and allows auditors to provide

deeper insight and service value to their clients.”

Brian Fox, President & Founder,

Confirmation.com

Initiating a

RIPPLE EFFECT of

POSITIVE CHANGEContinued, dedicated change management within the audit profession has helped move firms out of the era of paper and inefficiency and into the far more productive digital age. And while improving internal operations has long been the objective, the transition into the Age of the Client has changed the focus from internal improvement to enhancing the client experience.

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Delivering a quality product in a timely manner is no longer enough.

Today’s on-demand-driven clients expect an experience of excellence. But what does this mean for firms? In the eyes of the client, this boils down to how your products and services will make their lives easier—that experience that leaves them feeling better and better off. When a business is designed to maximize service, clients receive deeper value and feel good about the brand serving them. This is now the focus of firms that understand the necessity of delivering an exceptional client experience.

FIRM SUCCESS STORY

Understanding that client experience is at the heart of client loyalty, it’s critical that firms operate in a way that maximizes service—and technology is at the center of it all.

The following firm success story best emphasizes how technology is the starting point to achieve:1. A streamlined internal audit workflow2. A positive work culture3. A rich client experience.

Wiss & Company (Wiss), a full-service accounting and audit firm head-quartered in New Jersey, has long enjoyed the benefits of operating within a digital environment. According to Craig Erickson, CPA and Audit Partner at Wiss, the firm’s dedication to staying ahead of the technology curve initiated a ripple effect of positive change—includ-ing department-wide efficiency, an improved staff culture, and a rich client experience.

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Over several years, the firm has consistently worked to enhance their technology infrastructure, including implementing a leading audit confirmation solution. Erick-son stated,

“The efficiency gains we experienced by moving to a digital audit process were significant... the system simplified the process for getting cash confir-mations and cut down on time spent tracking where they are in the process.”

Prior to implementing an advanced audit confirmation system, Wiss, like many firms, adhered to a primarily paper-based process. Several hours were often ap-plied to completing forms, mailing them out, and tracking responses.

Erickson explained the issues with the firm’s manual-driven processes: “Before the transition, we basically used the standard pre-printed forms that the AICPA provid-ed to banks. We would either hand write them or hand them over to our clients to complete. There were issues with contact information and routing to the right per-son. This could add up to several weeks of waiting.”

Once the new system was in place, weeks were reduced to days. Even better, ac-cording to Erickson, improved workflows led to far more satisfaction among staff: “Another major improvement was with our staff; they are very happy with the sim-plified process. No one wants to spend hours running after confirmations.”

Craig Erickson, CPAAudit Partner

Wiss & Company, LLP

He continued: “We have talented audit staff here. They shouldn’t be stuck running after confirmations; it’s not a good use of their time. Everyone enjoys working more efficiently. The move to a streamlined, electronic audit process significantly enhanced the work culture. And now our staff can spend time on meatier issues with an audit while also better serving our clients.”

Erickson attested that you have to build a positive culture if you are going to deliver top quality services to clients. When staff is happy, it’s much easier to make the clients happy as well, and offer them the experience they both expect and deserve.

Today, Wiss enjoys all the benefits of advanced technology. Having built an integrated, digital system to run their audit opera-tions, the firm is enjoying heightened internal efficiencies, which have lead to a positive work culture and the ability to offer a rich end-to-end client experience.

“The end goal is always to best serve our clients at all points in the process. Technology allows us to do that,” said Erickson.

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CONCLUSIONTechnology is at the core of a well-run practice, providing the platform to support end-to-end digital processes that fuel productivity across teams and departments. In the audit world, considering the level of complexity, advanced technology is a necessity in order to avoid bottlenecks and process inconsistencies, and move work seamlessly and efficiently through a firm.

When firms start with an advanced technology infrastructure, it can trigger a positive ripple effect that influences workflow, culture and clients. With proper planning and dedication to staying ahead of the technology curve, your firm can also experience a welcomed wave of change that leads to a rich experience for all clients.

Learn more about Confirmation.com today!Visit: CPA.com/Audit-Confirmations Call: 855.855.5CPA

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