Doesn't DRS tell you what? It's a Formula 1 term. And it stands for Drag Reduction System.
DRS is a tool that increases the top speed of the car and makes overtaking easier. What’s more, a driver can only use it to overtake another driver. The person being overtaken, according to the regulations, is not allowed to use it at that moment. Fascinating! What will become your tool in these challenging times?
"What a year it's been this week?"
-That’s how I started my last LinkedIn post on Friday.
All economic laws were adjusted immediately. I recently bought the book “Economics” from good friend Johan Lambrecht. Johan writes about economics without formulas. I often thought about Johan this week. I normally see him every week. He whispered to me when he published his book: “After reading it, you understand and speak the political-economic language yourself and you can follow the economic policy measures critically.” -Will his book remain a manual or will it promptly become a reference book? I’m looking forward to our next Monday Johan, we need to talk!
But it wasn’t just the economy that went all the way. Suddenly, digitization was no longer discussed but actually implemented. Let me be careful, another respected Prof. Stijn Viaene posted this week: Be careful! Don’t reduce digital transformation to improvisation and teleworking. Seems very ‘agile’ – and it often is, but there is more work to be done. #remainmindful #futureproof
He’s right. And yet. Agile ladies and gentlemen. Agility I’ve seen more than ever. And that’s a first move. If you search for agility on Google, you promptly end up with this statement: ability to think and understand quickly. Stijn keeps it up; responsiveness to change. (In his must-read book: Digital Transformation Know How)
Be careful! Don’t reduce digital transformation to improvisation and teleworking. Seems very ‘agile’ – and it often is, but there is more work to be done. #remainmindful #futureproof
The word is out
Agile. It reminds me of my daughter who didn’t make her first runs until she was 19 months old (!). No matter how much we encouraged her, she didn’t do it until she found the right balance. That balance came suddenly. And most of all, without her even noticing it.
This week I saw many accountants taking steps. They have been agile in drawing up the balance for some time now. But still, this was completely different.
Let’s not go around the subject, we have to talk about it. Digitalization. In the accounting industry quite a few steps have already been taken towards digitization. And that means that the accountant probably already has more time for providing services other than just accounting, such as advice. But the digitisation as we know it today for accountants is effectively only there for the accountant.
It seems as if the accountant’s most important asset, his customers, have been forgotten in the entire process. Virtually all the tools available today make the process easier for the accountant and not necessarily that of the entrepreneur. It is therefore a special challenge for the accountant to persuade the entrepreneur to take advantage of a process from which he does not derive any direct benefit.
Well, these laws were also promptly amended this week.
The accountant, who provided advice. Check. I also consulted myself with my accountant. About the latest developments and how I should anticipate them.
Three cheers! Advice was given as never before. More than that, they asked for advice like never before. The entrepreneur found his way to his accountant, faster than ever.
Accountant, activate your DRS now!
Here’s a chance! The entrepreneur is a bit happy that the accountant is here. And that he can be reached.
Now it’s the accountant’s turn. Activate your DRS, Drag Reduction System.
I’ll explain myself.
As an accountant, you’re in the cockpit now, ready to make a difference. Onboard your clients in a digital world. Convince them to work online. And choose the right tools for your clients. It will reduce a lot of drag in your processes.
Everyone has been shouting it from the rooftops for years: “My new business plan as an accountant? -I’m going to give advice and sell. Accounting tasks will be the basis from which everything starts.”
The advice you gave this week, dear accountant. Numerous, tight and correct. But was accounting effectively up to date? We’re approaching the end of quarter, could you actually give your client a direct insight into his situation?
“My new business plan as an accountant? -I’m going to give advice and sell. Accounting tasks will be the basis from which everything starts.”
Give them what they need
Within TOCO I developed a mantra: Give them what they need, and you’ll get what you want. Freely translated: give your clients everything they need and you’ll get what you want as an accountant. Customer centric.
Accounting apps are becoming more prominent. With regard to pre-accounting, I’m not talking about the technical side of the business, but anything that makes the entrepreneur deliver his documents to you, the accountant, faster: the input needs to be faster in order to arrive at proper output and advice. It is clear that accounting apps with added value for the entrepreneur are now crucial.
“Great customer experience emerges from the way you solve your customers’ problems.” Stijn Viaene, Vlerick
Involve your client, give him those tools.
And speaking of TOCO, our brand promise is literally Together Connected…
Activate your DRS. Give your client what he needs to make his process smooth. And you’ll speed up your own process right away. Away with the drag. Get documents daily. Not in a box or in a folder on your PC or server. No, right in your process, where it’s supposed to be.
The customer wants it himself
Perhaps the most underestimated – technological – factor of all! “The customer will take care of the change himself! In the future, the youngest generation will take the lead in many ways… of almost everything.” -I wrote this a month ago in an article.
Today is more immediate than ever. Many business owners see it differently. Paperless and automated accounting is the exact reflection of what the customer wants to see now. Just like proactivity, improved operational transparency, and a personalized approach. These are just a few of tomorrow’s minimum requirements.
With TOCO, we bring a new indispensable application for entrepreneurs. It allows the customer to keep a close eye on his financial administration. His different bank accounts are brought together in one portal, where all his documents, invoices, transactions and accounting data can also be found. It is also the place where you communicate together. Right next to the figures.
“We remove the complexity of accounting by offering the financial management of your company in one convenient application.”