We have listed several key reasons small-to-medium business (SMB) owners seek accounting services elsewhere.

1. Your business has outgrown your current accountant

Business growth necessitates better expertise and focused attention on planning, risk management, and strategy. It is vital that your accountant has the capability, knowledge, and resources to support your business growth. There are several reasons that might indicate that your current accountant no longer suits the increasing demands of your growing business. Namely, your accountant may lack expertise in a specific area.

2. Lack of communication from your accountant

Communication is the most important aspect of an advantageous business relationship. Communication is key to overcoming challenges, reaching goals, maximising efficiencies, meeting deadlines, minimising errors, seizing opportunities, and establishing trust. Ensure your current accountant maintains regular transparent communication, or this might inhibit your business’s operations and success and therefore should be an indication that you may need to switch to a new accounting provider.

3. Your accountant doesn’t optimise the latest technologies and efficiencies

Implementing and utilising the latest accounting technology is critical in maximising business efficiencies. Automation in accounting allows for better strategic planning, risk management, and overall productivity. By leveraging the most up-to-date available resources such as cloud computing and accounting software, you can improve business continuity planning, collaboration efficiency, flexibility and accessibility of data, accuracy, compliance, and timely decision-making capabilities. If your current accountant doesn’t utilise these resources, you should consider switching to an accountant that does so that you can reap these benefits.