To sell your MSP services successfully you need to understand the pain points of your prospects. In this blog, we address the key IT challenges faced by Accounting firms so that you can include them in your messaging and pitch your services more effectively.
IT Challenges Faced by Accounting Firms
System maintenance
For accounting firms in general, opting for an MSP makes sense because it is seen that most accounting firms spend 70% of their IT budget on system maintenance and only about 30% on new technology. Though many CPAs think having an in-house IT team offers more control, they are fazed when it comes to IT management hassles and increasing IT costs. Opting for a MSP takes the onus of system maintenance off their shoulders.
Accessibility to Older Data and Documents
Service sector businesses that include accounting firms often have a need to refer older files and documents such as older tax returns, payment histories, invoices, etc. There are government as well as professional governing bodies that regulate document retention so access to data storage becomes critical. As a result, a large amount of space is needed.
Software upgrades
Software upgrades are vital for accounting firms—especially from government regulations perspective. However, software upgrades interfere with work and updating work stations individually takes time…an area where you can help with a cloud-based system
Speed, Transparency, and Collaboration
The staff structure of accounting firms is different. They have seasonal staff, multiple offices, and even staff working from home. With a varied workforce, accounting firms also follow odd working hours and hence need 24/7 IT support. Add various offices and multiple teams to that and you will find that your leads from the accounting vertical often struggle to maintain transparency among their workforce. Multiple teams working on the same input simultaneously may cause systems to slow or break down, resulting in lost time.
Data Back up & Security
Data security is of utmost importance where accounting firms are concerned. To keep up with the latest security requirements, firms invest in numerous control systems such as CCTV cameras, biometric access controls, encryption, etc. Merging all of these together and managing them from a single point of contact is a technological challenge.
Communication between Multiple Offices
Data from multiple offices need to be stored and made accessible at a central level as their business depends on the unobstructed transfer of knowledge between their different locations.
Confused about what Software Application/Anti-Virus to Invest in
Accounting firms generally fail to estimate IT expenditures in advance and are not generally knowledgeable about necessary software packages. They also don’t have the time to research software upgrades and Zero-day alerts.
Additional tip:
Accounting firms/CPAs are more inclined towards ASPs—application service providers who are well-versed with accounting software programs. Examples include Taxprosystem, Engagement prosystem, Scanprosystem, Engagement CS, Practice CS, UltraTaxCS, Caseware, Microsoft Dynamics, QuickBooks, Peachtree, SAGE ACT, Lacerte, SAGE50 accounting, etc.
So, the next time you pitch to an accounting firm, talk about these pain points. Once you demonstrate that you really understand their challenges, selling your MSP service to them becomes easy.