5 ways to engage your clients in their finances

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Post on 11-Feb-2017




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  • 5 Ways to Engage Your Clients in Their Finances

  • #ClientEngagement

    Yoseph WestMarketing Leader, Hubdoc

  • Madeline ReevesDirector of Business Development, Fathom


  • Up-to-date financials are critical to driving client engagement.


  • 1. Review data accuracy and timeliness2.Understand clients full remit of data & supplement3. Increasing data accessibility through education & software4.Critical questions to determine Metrics That Matter5. Producing valuable & accurate reporting to engage clients



  • Data Accuracy & Timeliness


  • Garbage in equates to garbage out Manually data entry opens up the opportunity for error Bad data leads to bad decision making Ask yourself: What am I doing to guarantee this data is


    Risks of Inaccurate Data


  • Weekly v Monthly v Quarterly v Annual Understanding how this fits with clients business Goal of becoming a forward-looking advisor

    Reconciliation Cadence


  • Proactive vs. Reactive to client issue Recent data is more relevant than historical data More agility as an advisor to add value Better and more immediate visibility into business results

    Benefits of Real-Time Financials


  • Understanding Available Client Data & Its Gaps


  • Ask clients about their systems + data they track Develop an understanding of how that data that

    correlates to their critical business questions

    If key data is missing, step in to suggest solutions

    Understanding clients data remit


  • 1. Bank feed2. Bank statements3. Receipts & invoices (digital and paper)

    Potential Data Sources


  • Length of historical data pull Reliability of transactions

    Solving for these challenges

    Bank feed


  • Monthly reconciliation Method of retrieval

    Cheques, deposit slips, etc.

    Bank Statements


  • Paper vs. Digital Building systems for retrieval

    Reduction of dependence on the client

    Receipts & Invoices


  • Reduce the risk of manual error through automation Automation focuses you on analysis vs. collection Availability of the data enables you to engage with clients

    and give valuable business advice

    Automating data collection


  • Hubdoc Demonstration


  • Increasing Data Accessibility


  • Clients want leadership & guidance Spend as much time explaining the Why as the What Educating clients is a valuable opportunity to

    highlight your areas of expertise

    Client Education to Engagement


  • Data helps you *know* a clients business Being proactive through data creates value for clients Increases trust and positions you as an advisor

    Grow Relationships Through Data


  • Identify data that needs to be monitored and measured by asking your client open ended questions

    Develop Key Performance Indicators (KPIs) for each of their business areas and concerns

    Get to know appropriate KPIs for your clients industry

    Measuring What Matters


  • Producing Reports to Drive Client Engagement


  • Identifying reporting templates for clients industry Determining the reporting cadence for your clients Be creative about how you deliver reporting insights

    Developing Valuable Reporting


  • The days of the static spreadsheet are over Clients want to see and interact with their data Dont waste time manually preparing client reporting Interactive platforms can help facilitate engaging and

    valuable conversations with clients do

    Static Data to Dynamic Visuals


  • Demonstration


  • Thank You + Q & A

    Madeline Reeves madeline.reeves@fathomhq.com


    Yoseph West yoseph@hubdoc.com




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