5 Ways to Engage Your Clients in Their Finances

#ClientEngagement

Yoseph WestMarketing Leader, Hubdoc

Madeline ReevesDirector of Business Development, Fathom

#ClientEngagement

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

#ClientEngagement

1.  Review data accuracy and timeliness

2. Understand client’s full remit of data & supplement

3.  Increasing data accessibility through education & software

4. Critical questions to determine Metrics That Matter

5.  Producing valuable & accurate reporting to engage clients

#ClientEngagement

Agenda

Data Accuracy & Timeliness

#ClientEngagement

•  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

accurate?

Risks of Inaccurate Data

#ClientEngagement

•  Weekly v Monthly v Quarterly v Annual

•  Understanding how this fits with clients’ business

•  Goal of becoming a forward-looking advisor

Reconciliation Cadence

#ClientEngagement

•  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

#ClientEngagement

Understanding Available Client Data & Its Gaps

#ClientEngagement

•  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 client’s data remit

#ClientEngagement

1.  Bank feed

2.  Bank statements

3.  Receipts & invoices (digital and paper)

Potential Data Sources

#ClientEngagement

•  Length of historical data pull

•  Reliability of transactions

•  Solving for these challenges

Bank feed

#ClientEngagement

•  Monthly reconciliation

•  Method of retrieval

•  Cheques, deposit slips, etc.

Bank Statements

#ClientEngagement

•  Paper vs. Digital

•  Building systems for retrieval

•  Reduction of dependence on the client

Receipts & Invoices

#ClientEngagement

•  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

#ClientEngagement

Hubdoc Demonstration

#ClientEngagement

Increasing Data Accessibility

#ClientEngagement

•  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

#ClientEngagement

•  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

#ClientEngagement

•  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 client’s

industry

Measuring What Matters

#ClientEngagement

Producing Reports to Drive Client Engagement

#ClientEngagement

•  Identifying reporting templates for client’s industry

•  Determining the reporting cadence for your clients

•  Be creative about how you deliver reporting insights

Developing Valuable Reporting

#ClientEngagement

•  The days of the static spreadsheet are over

•  Clients want to see and interact with their data

•  Don’t waste time manually preparing client reporting

•  Interactive platforms can help facilitate engaging and

valuable conversations with clients do

Static Data to Dynamic Visuals

#ClientEngagement

Demonstration

#ClientEngagement

Thank You + Q & A

Madeline Reeves madeline.reeves@fathomhq.com

@madelinekreeves

Yoseph West yoseph@hubdoc.com

@ycwest

#ClientEngagement