‘can’t get no satisfaction?’ cfos reveal what they want from cpa firms.
by rick telberg
for the finance executive
mick jagger isn’t the only one who can’t get no satisfaction. some finance managers can’t either.
we’re fortunate that most cpas in business and industry don’t get up on a stage and sing about the satisfaction they can’t get. but since they don’t, how are cpas in public accounting supposed to know what satisfies their clients and prospects?
concerned that corporate financial-types might start tuning their fenders and cranking up lethal sound systems, we’ve been canvassing cpas in business and industry (on the buy-side) about what the cpa firms (on the sell-side) could do to satisfy them more.had mick thought to do the same, he might have learned something interesting and saved himself a lot of trouble.
so what are cpas in business and industry looking for? here are a few tips:
1. keep us in the loop
“keep the client informed of their progress at all stages (planning to delivery),” said a cfo at a major educational institution. “this will help to ensure that clients do not feel that they have been lost in the shuffle of other work.”
we got a lot of comments from clients who were looking not just for friendly audits and timely tax returns but for attention, advice, returned phone calls and similar communicative contact.
2. get creative
“client contact throughout the year — let us know you care,” said bryan overcash, financial officer at global contact services in salisbury, n.c. “proactive tax advice. not just how to stay out of trouble but some actual creative suggestions!”
3. be useful
somebody at the vice-president level in a large company suggested, “listening to clients and responding as to how to keep costs down. come up with ways to keep costs down.”
we have a feeling those costs aren’t just fuel and overhead but the cost of audits and accounting. we heard many requests for reasonable fees.
4. communicate
who’d ever have thought that “communication” is what it takes to satisfy cpa clients? it was perhaps the most common suggestion. one respondent shouted it in upper-case letters. some used exclamation points. one ceo said it three times in a row.
“communicate,” said frederick mertes, cpa, currently a financial officer with newborn brothers, inc. in maryland. “provide tax planning advice — long-term advice. be more proactive in helping business grow and reduce costs. share industry information and cutting-edge tools.”
communication, of course, doesn’t happen much to people with closed eyes, plugged ears and shut doors.
5. respond
“listen and respond,” said stephen sage, financial officer at kickstart international in san francisco, a pretty big not-for-profit. “treat clients as important, even though fees may be low. once fee is set, quit whining to client about lack of profitability.”
monte grissom, chief financial officer at jamieson manufacturing in dallas, also suggested keeping the ears peeled.
6. go for the base hits
“listen to what the company is trying to accomplish then help develop real-world solutions,” grissom said. “stop trying to find ways to get inside the company for the purpose of generating fees. listen and bill fairly, the work will always be there — forget about hitting home runs; singles win a lot more games and make teams work.”
so there you have it. finance executives can get satisfaction. all it takes is an accounting firm that’s willing to stop, look, listen and call back. no need to get up on a stage and sing a song about it. now, get off of my cloud.
[first published by the aicpa]
3 responses to “what mick jagger can tell finance managers”
charles h. green
maybe mick can sing it better, but those finance managers were pretty clear.
you can’t always get what you want. i mean, they’d love to have fabulous results, done in a day, and basically for free. they know they’re not going to get it. but if you try, you just might find, you can give them what they need–straight up talk, communication, and some ideas that would be useful for their business.
it’s only rock ‘n roll–but they like it. why do accounting firms think that clients want to hear another spiel about “expertise?” what they’d really like is for someone to pay attention to them, and to listen. is that so hard?
gimme shelter. clients don’t want to be bombarded with cross-selling, next-selling, consultative selling, needs-based selling, or any other kind of selling. if you have a good idea, they’d love to hear it. and if you have an intelligent question, that shows some sincere interest in the client without being directly linked to a sale, why they’re probably willing to take some time to answer it. usually.
time is on my side. actually, it is. one of the top two reasons for failed trust conversations is a tendency of the seller (read cpa firm) to jump to conclusions, to give answers before having understood the client, to offer advice before the client perceives they have earned the right to do so. (the other one is poor listening). take some time. get to know the client, not just the issue, before teeing off. that doesn’t mean waste time–it means use it.
the last time. oddly enough, clients don’t want to hear about your last time–even if they say they do. people on blind dates don’t want to hear about your last date–frankly people in business don’t either. they’d much rather hear about themselves. make everything about the client, not yourself.
lance k. mertz, cpa
as the business manager of a small school district on an island in alaska, i can tell you that mick had it right. cpas do not communicate well as a group and mine are worse.
fees? during the first meeting we had, even before the field work started on the current audit, the partner brought up the low-ball fee they had quoted us.
creativity? you must be joking. they are continuously looking for ways to justify more fees and increase their revenues. we are looking for new auditors.
as an accountant, manager and person in charge of just about everything no one else wants to do, i find that communication is key. in fact, i think the real job of cfos and others at my level is communication, both within the organization and outside, to stakeholders, government officials and the public.
accounting is one of the tools used in that communication, not an end in itself. if information in your financial statements (other than the laundry list of requirements) is not useful to the users, get rid of it. if there is information people need, put it on your web page.
finally, the whole profession needs to look at itself, its structure and the way it is doing business, and wake up before we are irrelevant. the scandals of the last 5 or so years have tarnished us beyond recognition, but that is our own fault and that of those entrusted with that reputation.
most of us work hard in the trenches while the people in the ivory towers play games. the dissatisfaction held by finance mangers is no surprise to me.
lance k. mertz, cpa
business manager
ketchikan gateway borough school district
.
mary polt
the article on mick jagger was really good. your articles are always good. thanks
.