When our accounting firm had decided to implement engagement letter software for accountants a year ago, we had believed that the greatest hurdle would be the technical integration. The lessons then came from unexpected places that changed not only our documentation process but also changed the entire way we interact with our clients.
What started as a simple digitisation assignment turned out to be a disruptive exercise in client engagement. After some forays with different solutions, finally, the realisation of Figsflow engagement letter software generated some key learnings for us.
The first lesson was the client psyche. We found that the use of digital engagement letters enhanced client trust. Being professionally prepared and readily accessible, our firm appeared to clients more organised and high-tech, which in turn raised their confidence in our offerings.
The second surprise was presented to us through tracking analytics. These monitoring functionalities of the app showed us that clients dwelled long on the fee structures and scopes of services. Hence, we made some redesigning of these sections, increasing clarity, which led to a 40% decrease in further queries from clients.
Third, we learned that template flexibility is the priority over quantity. Initially, we generated numerous templates for several scenarios. However, what worked out better was to have fewer, more versatile templates with intelligent logic than to retain a vast template library.
Fourthly, the lesson on acceptance among the staff had its ups and downs. For younger team members, the shift was embraced almost instantly, whereas more experienced partners needed more convincing. Once they experienced how much time they were saving in client follow-ups and modifications of their templates, it was hard to turn back.
Finally, there arose the observation that digital engagement letters served as a successful marketing tool. The professional presentation coupled with easy accessibility improved the perception of our firm among prospective clients, especially in technology-driven sectors.
These lessons allowed us to achieve some major improvements: 65% faster client acceptance rate, 45% reduction in admin time, and zero missing engagement letters in our last audit reviews.
