By Rhys Madoc, CEO, UHY International

November 2022

According to the World Economic Forum1, innovation is ‘the process of turning new ideas into value, in the form of products, services, business models, and other new ways of doing things’. Digital education specialists Wiley2 define it as ‘applied creativity that achieves business value’.

I like these definitions because they are relatable – we are all in business to create value. Innovation flourishes in times of adversity, like the common wisdom – ‘necessity is the mother of invention.’ The pandemic saw plenty of it in our profession, as firms and clients redesigned processes and adopted new technologies to enable better offsite working. Some businesses reimagined entire cultural practices to accommodate the ‘new normal’.

But we do not innovate just because we have to. Often innovation provides a competitive advantage. It may enable a business to be first to market with a new product or service.

However, there are barriers. Typically, these include: lack of money, lack of cultural buy-in, rigid adherence to the way we have always done things, aversion to risk, fear of lack of control. Perhaps predictably, all of these are amplified in times of crisis. So what can we do to overcome them?


Innovation relates to people, products and processes. Research published in the Harvard Business Review3 found that innovative organisations exhibit common behaviours:

  • They always assume there is a better way to do things
  • They focus on deeply understanding customers’ stated and unstated needs and aspirations
  • They collaborate across and beyond the organisation
  • They recognise that success requires experimentation, rapid iteration and frequent failure
  • They empower people to take considered risks, voice dissenting opinions and seek needed resources.

Some of these characteristics are familiar to many of us. The UHY network, for example, places collaboration and working together for the benefit of clients at the heart of its culture across the world. Our member firms’ passionate focus on client needs is a key driver of success for our business.

But what about some of the other things on the list? Does your company behave in these ways? Have you adapted to adversity and emerged stronger, or enabled competitive new products and services by taking risks?

In the short term I believe there are a few organisational imperatives to support successful innovation:


It is worth remembering that before Henry Ford came up with the idea, nobody had thought of a moving assembly line (or, if they had, they never told anyone). The innovation is believed to have reduced the time taken on each vehicle from 12 hours to 90 minutes. Ford did not invent the automobile as he is often credited with doing; he simply thought of a better way to make it.


New technology can be terrifying, especially if what you have always done is working okay, so why change? Nobody wants to think of machines replacing humans. But in our profession for example, data analytics, artificial intelligence and machine learning can do all the painstaking number crunching, which gives us more time to add value to clients with advice and insight. ‘Working okay’ is no longer enough.


Recruiting someone into your business with different experience or background is one way of embracing innovation, bringing a completely different perspective to a set of challenges. While this can be daunting for you and your staff, it can be a great way to energise a culture that might otherwise become set in its ways.

People can be most innovative given the opportunity. Fostering innovative thinking is good leadership. Acknowledging new ideas and perspectives is key, as is creating a culture of listening and ensuring colleagues feel free to challenge the status quo. The old-fashioned ‘suggestion box’ can be more useful than you think!


1World Economic Forum, Global issue: Innovation
2Wiley, The Art and Practice of Leading Sustainable Innovation in Your Organization
3Harvard Business Review, Breaking Down the Barriers to Innovation

Homeworker photo by Surface on Unsplash
Model T Ford: iStock.com/TennesseePhotographer
Idea Wall: Photo by FORTYTWO on Unsplash






By Rhys Madoc, CEO, UHY International

November 2022

If there is one thing we have learned over the last few years it is the value of embracing change. Nobody could have predicted the global disruptions but it is true to say that those whose businesses have survived, or even prospered, have been those who have been better at dealing with change.

There have been dramatic changes not just in the workplace and in ways of working, but also in the adoption of technology: how we work with clients in the cloud, manage teams remotely and use AI-based data analytics software for improving efficiency and accuracy.

Rather than accept change, or rush headlong into it, many of us have had change thrust upon us. As a result, some businesses have pivoted entirely, organisational models have adapted and we have seen long-term thinking change drastically. The idea of the Great Resignation (the observed mass exodus of workers after/during the pandemic) tells us a lot about how we might need to approach work from now on.



But what does embracing change really mean? It is about looking for opportunities and advantages, but it also means being optimistic if a perceived change does not at first look like one for the better. For us at UHY it also means being open to innovation and not necessarily accepting ‘business as normal’.

But it is not always easy. Research published in the Harvard Business Review* asserts: “A root cause of resistance to change is that employees identify with and care for their organisations. People fear that after the change, the organisation will no longer be the organisation they value and identify with.”

Of course, change for some people is easier than for others. For those who find it more challenging, it is sometimes the case that being an employee of an established business means not having to deal with the disruptions and pivots usually associated, for example, with startups and entrepreneurial businesses. Some people thrive in an organisation with set processes and procedures, and so do their managers.


However, when change is inevitable, how can you embrace it and encourage your employees to also do so without fear?

One way is to create a culture of dialogue and continuous improvement. Staff and management feedback is essential. By seeking input from your employees, by showing that you are open to their ideas, and by demonstrating a willingness to embrace new things, you can encourage your people to do the same. Similarly, by setting expectations of continuous improvement, incremental change becomes the norm.

Leading by example and having a positive response to change at management level, whether technological or in terms of process, is also likely to foster a more open-minded approach across the rest of the workforce.

In order to help people cope with change, it is useful to understand how they might react to it. For example, some people will respond quickly while others may respond well but with a longer transition time. Understanding this and adapting your expectations and processes will make embracing change easier. Addressing reactions and dealing with them diplomatically and sensibly will help, so strong employee-employer relationships are important.

The UHY network has an ambitious, collaborative and innovative culture. We are open to embracing new methods of working when they yield positive outcomes and the same applies to more ‘traditional’ models. It is an approach to change that I hope has served our member firms and their clients well. While nobody would say that the events of the last few years have been anything but difficult, the transformations they have enabled for many of us have been phenomenal and this is something we should all embrace.


*Harvard business review research: To Get People to Embrace Change, Emphasise What Will Stay the Same

Image acknowledgements: Microsoft 365 subscriber content







By Rhys Madoc, CEO, UHY International

June 2022

In the post pandemic world of work, robust cybersecurity defences are more crucial than ever.

That is not saying anything that most of us don’t know, but it is worth repeating. The pandemic has accelerated digital transformation, making us all much more reliant on online tools and services than we were just two years ago.

In our profession, we have seen a significant shift to using cloud-based bookkeeping software; and our clients expect to be able to contact us over Zoom, Teams or chat, as well as in person. We store more critical data in digital strongrooms, either in the cloud or on in-house servers.

Across the corporate world, reputations, revenue and even the futures of businesses rely on being able to keep that information safe. That is not an easy task. Cybercriminals are a determined foe.



However, as determined as the criminals are, the reputation of cybercrime can sometimes exceed its reality. Cybercrime is rarely rocket science. The things you need to do to foil most attackers are actually quite simple – you just need to do them again, and again, and again.

That means not just investing in an enterprise grade firewall, but making sure it is always updated to the latest version. It means backing up data on a daily basis. It means buying and applying Virtual Private Network (VPN) licences for employees connecting to your network remotely and making sure they use them.

And perhaps most of all, it means making caution routine. Deleting an email that contains a link you don’t recognise once is not enough. You have to avoid clicking suspicious links every time you encounter them, from now until forever.

That is a tough ask, because it requires constant vigilance. Drop your guard on just one occasion and the hackers might be in.



That stark truth is confirmed by statistics. A recent report found that 85% of data breaches have a human aspect (source: Verizon, Data Breach Investigations Report 2022). The average cost of a data breach, meanwhile, is an eye watering USD 4.24 million according to IBM (source: IBM.com/security).

How do you avoid the calamity of a major cybersecurity incident? It takes a holistic approach, which certainly includes technology, and might require third party support.

Many UHY member firms around the world now offer cybersecurity as a professional service. Our US firm, for example, operates a rapid response unit, which has a formidable reputation for forensically investigating security breaches and containing threats before significant damage can be done.



But whatever else you do, your cybersecurity strategy absolutely must include employee education. In one telling study, 61% of employees failed a cybersecurity quiz, and 60% of those that failed said they felt safe from online threats (source: talentlms.com cybersecurity survey).

In my opinion, that sort of misplaced confidence is as big a threat to your organisation as an unpatched server. Cybersecurity training should now be compulsory for all employees, as part of a process of continuing learning. Annual refresher courses should cover at least the basics, from recognising phishing attacks and securing mobile devices to connecting securely to your network from outside the office.

Or to put it another way, cybersecurity needs to become a habit. Your resilience to cyber attacks depends on the continuous vigilance of every member of your organisation.

So put the tools in place, from firewalls and antivirus software to intrusion detection and prevention systems. But remember that cyber resilience is as much about instilling a culture of caution as it is investing in the latest technology. As an organisation, you are only as strong as your weakest link.


Image acknowledgements: Microsoft 365 subscriber content


Corporate tax rates worldwide hit new low of just 25.1% – but new trend of rising rates has already begun...



Corporate tax rates in leading economies worldwide have fallen to an average of just 25.1%* shows a new study by UHY, the international accounting and consulting network.

However, with the Covid-19 pandemic leaving a gaping hole in the public finances of countries around the world, UHY says that the trend of declining corporate tax rates worldwide is likely to be over for the foreseeable future.

The UK government already announced its intention to raise corporation tax rates to 25% from April 2023, more than two percentage points higher than the European average.  Argentina already increased its headline corporate tax rate from 30% to 35% in 2021. US President Joe Biden has also pledged to raise federal corporate income tax to 28%, after it was cut to just 21% by his predecessor Donald Trump in 2017.

Global corporate tax rates have been steadily decreasing over recent years, with the G7 average for a business recording profits of 1 million USD falling from 32% in 2014/15 to just 26% in 2020/21. Many countries sought to incentivise businesses to invest in their economies with attractive tax rates. France, often seen as a higher tax European economy, has lowered its headline rate from 31% to 26.5% in just the past three years. 

Subarna Banerjee, Chairman of UHY, comments: “Countries around the world have wanted to remain competitive by keeping the tax burden on companies as low as possible in recent years. The cash strapped governments of 2022 will likely now be considering increasing taxes on corporates.”

“Public finances will have to be shored up somehow and corporates can be an easier target politically than individuals. Businesses worldwide should be prepared for their tax costs to begin to rise in the coming years.”


Lower rates for SMEs remain vital, says UHY

UHY says that governments worldwide should ensure that any move to raise corporate tax rates does not affect the lower rates used to encourage the growth of SMEs. The Netherlands has recently reduced its corporation tax rate to just 16.5% for companies with taxable income under $450,000, while Croatia now offers a rate of just 10% for companies with a turnover of less than $1,125,000.

UHY explains that SMEs form the foundation of economies worldwide, employing millions of people and a path to sustainable economic growth. Encouraging SME development with tax incentives will be crucial to the post-covid recovery of both developed and developing nations.

Subarna Banerjee continues: “SMEs are a crucial component of international economies. In light of many countries’ post-covid recovery plans, it is encouraging to see so many continuing to support these smaller enterprises which form sustainable foundations of their economies.”


OECD’s global minimum tax rate may prevent further tax rate cuts

The OECD announced in October that 136 countries have signed up to a deal to enforce a minimum corporate tax rate of 15% from 2023. The deal will also allow countries to tax multinationals that make sales within their jurisdictions even if they do not have a physical presence there.

As a result of growing political pressure, some lower-tax jurisdictions will likely now have to increase their corporate tax rates for multinationals. Countries such as the Republic of Ireland have come under fire for their low corporate tax rate of just 12.5%.

These corporations are a key target for government clampdowns worldwide, with some multinationals choosing to operate from lower-tax countries, resulting in them recording lower profits in higher-tax countries.  

Alan Farrelly of UHY Farrelly Dawe White Ltd says: “In the last two decades there has been global competition amongst countries such as the Republic of Ireland offering the lowest corporation tax rates. The new OECD initiative will change this trend for countries utilising low corporation tax rates to attract foreign investment.”


Could more corporate tax hikes be possible?

Developing nations surveyed by UHY typically already had higher corporate tax rates than their more economically developed counterparts. India’s tax rates hit 34% for the largest corporations, with Nigeria implementing a headline rate of 32%, and Argentina charging its resident companies 35% on their profits.

Experts question whether there is scope for some countries to raise taxes further. Japan already charges its companies up to 38.2%, and Malta has similarly high rates at 35%. 

Lomme van Dam of Govers Accountants in the Netherlands says: “Governments should carefully balance their tax deficits with their economic recovery. Businesses paying punitively-high tax rates could lead to slower growth in employment, revenues and ultimately tax receipts.”

Global corporate tax rates fall to an average of just 25.1%

* According to the average tax rates of 33 UHY international firms, assuming companies have a profit of $1 million


Notes for Editors

UHY global press contact:

Leigh Lyons on +44 20 7767 2624

Email: l.lyons@uhy.com – www.uhy.com

Nick Mattison or Richard Crossan

Mattison Public Relations

+44 20 7645 3631

+44 74 4637 5555

Email: richard.crossan@mattison.co.uk







By Rhys Madoc, CEO, UHY International

May 2022

Are leaders born or made? It’s an important question, because if you believe that leadership is a genetic predisposition, you had better make sure your talent acquisition strategy is first class.

On the other hand, if you think leadership can be taught and developed in people, you need to have the processes and resources in place to give talented candidates the hard and soft skills they need.

In my experience, most businesses will mix and match. They will recruit new leaders and also promote from within. But the prevailing wisdom favours an educational route to leadership in business. Some people arrive in your organisation fully formed, with the talent, drive and charisma to be leaders, but arguably they are likely to be a minority. Many more will have a potential that needs to be nurtured.

Doing so is critical to moving our firms forward, and maintaining stability of knowledge – the foundations to grow. More than anything else, good leadership candidates can future-proof your business, and help set tomorrow’s agenda. But what does that nurture process entail? Here are a few ideas.


Identify the best candidates

How do you identify the next generation of leaders? In professional services, excellent technical skills are a given, but you are also looking for evidence of strategic thinking.

  • Do they come to meetings with ideas?
  • Do they proactively suggest new ways of doing things?
  • Do they have a grasp of the bigger picture?

Good candidates may naturally take the lead on projects, but not by being the loudest or most forthright voice in the room. Persuasion is often the natural result of good ideas and clear thinking.


Train them for leadership

Potential leaders will be keen to learn, and you should give them the resources that allow them to explore their natural curiosity. Management development programmes will target ‘hard’ leadership skills like commercial awareness and business development, but soft skills are just as important. Leaders don’t shout or snap orders anymore. They persuade and motivate. They know how to manage remote teams as well as in-house. They are the number one reason other talented people come to work for your business – and stay.


Give them reason to stay

You need a retention strategy targeted towards your very best people. One study found that the top 25% of employees are four times more productive than average – and up to eight times more productive in specialist areas (such as tax, for example). Good people tend to know their worth. If you undervalue them, they will leave.

This is not necessarily a question of money. According to recent Gartner research, people want ‘radical flexibility’, which means a degree of autonomy. They want to feel cared for, so you need a wellbeing strategy. They want to have a sense of purpose and shared values. Perhaps more than anything, they want opportunities for personal growth. In terms of your leadership candidates, this could be the clincher.


Give them a path to success

In short, your best people could leave if they do not see a path to progression. The end of that path cannot be in some distant fairytale future. Top talent needs to know that good work, commitment and the acquisition of new skills and knowledge will be rewarded with promotion. They need to know with certainty the steps they have to take to make the next rung of the ladder, and when – all being well – they can expect to achieve it.

Larger organisations may implement formal leadership identification and development processes. Smaller ones may follow more informal paths, but the result should be the same. Employees with leadership potential should know how that potential is to be developed and when it will lead to concrete progress.

At UHY a development priority is to encourage our leaders of the future, from formal and informal webinar and conference learning around succession planning, to providing an annual leadership forum in Spain. The UHY Forum has run since 2002 and forum alumni have gone on to achieve remarkable success in member firms throughout the UHY network. UHY’s current international chairman and the managing partner of UHY Hacker Young (London & Nottingham) in the UK, Subarna Banerjee (pictured) is an alumnus of the UHY Forum and there are many other alumni members who are now in significant leadership roles across our network.


Nurture first

Why is any of this important? Can you simply go out to the market and recruit the leadership talent you need? The answer is that often you cannot find the ‘right fit’ person – whatever the ‘right fit’ is! Variety of experience brings its own rewards to an organisation in the form of new ideas and developing culture. Fully formed talent is in short supply and highly valued (which makes it expensive).

In the era of post-pandemic working, where great employees and potential recruits have a new-found sense of self – and arguably more bargaining power – I believe that nurturing your next generation of leaders from within is more necessary than ever.

The good news is that your next management candidate is probably in your organisation already. You just have to let their promise flourish.


Image acknowledgements:
Best candidate: Photo by Kona Studios on Unsplash
Meeting, and Subarna Banerjee: © UHY International






By Rhys Madoc, CEO, UHY International

February 2022

Naturally, clients expect the best possible service from providers like UHY member firms. An important way we meet that expectation is through seamless and instinctive collaboration, within our teams, offices and the network as a whole.

It is no surprise, then, that working together is one of the four pillars of our network strategy. We know that when we collaborate we bring together a wide pool of knowledge and experience for the benefit of our clients.

Working together makes us better auditors, tax experts and business advisors. It means we can look at a client’s problem from multiple angles and bring in additional expertise to offer a second opinion or confirm a conclusion. When clients want cross-border services, working together means collaborating to give them the best local knowledge and on-the-ground expertise, helping them achieve their international ambitions.

It is known that collaboration is central to a successful business. Studies, such as that by Forbes have shown that teams which work together are more productive and innovative than teams which do not. But for a global professional services network like UHY, collaboration takes several forms, which in turn come together to form one seamless and joined up service.


Internal network collaboration

We collaborate as a network to share best practice, the latest research and new knowledge garnered from unique or complex client projects. 

We do that through our internal publications, a calendar of regional and global meetings and our network intranet, which is a comprehensive repository of articles, case studies, best-practice templates and training resources.

We encourage all our member firm offices to engage in continued discussion about our strategic direction and how it can better serve clients. 

This ongoing conversation feeds into an annual calendar of training and development opportunities.  


Collaboration on client projects

Clients expect us to collaborate internally and with their own teams – and sometimes with third parties too – for the best possible outcome. We want clients to see us as an extension of their own team.

Internally, collaboration happens when UHY individual experts and functional teams across different disciplines work together to provide a holistic service. These specialists might be in the same office, in cross-functional client service teams, or they might be on the other side of the world. In UHY we quickly know who to call in any one of our offices and any member firm can tap into the wider knowledge of the network to help them better meet client challenges.

Client stories in our bi-annual UHY Global magazine detail the ways in which our member firms come together to help clients, often on cross-border projects. Clients regularly ask for our help when auditing or opening overseas offices and subsidiaries, and acquiring foreign businesses. We offer a breadth of knowledge and experience across industries and sectors by harnessing the collective power of our network and tailoring it to each client’s needs.



While collaboration often happens naturally, we also put processes in place to identify the opportunities to serve clients better. To that end, every UHY member firm has an International Contact Partner whose role it is to answer queries from international colleagues and clients alike, and oversee the progress of collaborative cross-border projects. Our Referrals Partners endeavour to ensure that cross-border work and enquiries received from – and outsourced to – other member firms, are effectively managed.

In other words, collaboration is built into our systems and processes. The result we strive to achieve, for clients, is a comprehensive and seamless service and solution, whether their project involves one UHY member firm or ten.


Image acknowledgements:

Map graphic and client story collage ©UHY International

Collaborative working Microsoft 365 subscriber content






By Rhys Madoc, CEO, UHY International

December 2021

In accountancy, quality – at one level – is about making sure everything we do meets regulatory standards or legal requirements. Meeting these is the very minimum our clients expect. For example, international accountancy networks including UHY help to provide this assurance through membership of IFAC’s* Forum of Firms, conditional on meeting stringent quality standards.

But we know that quality goes beyond compliance. To help clients meet their objectives, we need to do more. Quality is also about service levels – for example, how reliable and responsive we are; how well we communicate; and how far we tailor our products to meet clients’ particular requirements.


A culture of quality

How do accountants nurture a culture of quality? We start with the basics. At its core, quality is about offering a consistently professional service, regardless of client size or spend.

Quality is caring about the total client experience, from first phone call to project handover – through prompt responses to queries, well-articulated proposals, a thoroughness in everything we do, and a determination to meet our deadlines and keep our promises. This is not a legal or statutory requirement. It is a commitment to our clients, delivered through our people.

Forging relationships is also about driving quality. When we get to know clients well, we are better able to understand their motivations and help them realise their ambitions. They turn to us for advice, and we become trusted advisors, a real mark of quality.


It is also what we do when nobody is watching

So what else does quality mean? To answer that, we need to understand that most professional services providers are now so much more than technicians.

Not only do we need to be experts in audit and assurance, tax, accounting and a host of business advisory disciplines, we also need to be highly knowledgeable about the wider globally-connected business world, and the challenges and opportunities our clients face every day.

That is why, for accountancy, the old adage is true. ‘Quality is what we do when nobody is watching’. That is what sets firms and networks apart.

For example, it is the insight we accumulate that does not just help businesses stay compliant, it helps them move forwards. It is the experience we bank through working in a variety of industry sectors. But above all, it is the client-centred cultures we work in that help us deliver value on top of expected technical expertise.


The UHY way

Our own client-centred culture has been the driving force behind the UHY global network since its foundation 35 years ago so it is not a fad or fashion, but a decades-old fundamental philosophy of how we do business together as a network across more than 100 countries.

In this sense, quality is about striving for seamless collaboration. Our firms meet regularly, share best practice and – most importantly – understand that with cross-border work the quality of one member firm reflects the reputation of the entire network. This engagement between our offices ensures we know the right person to contact in each country to meet client needs and address those needs quickly and efficiently. We pride ourselves on being cohesive, with a joined up approach to supporting all clients and cross-border initiatives. You can learn more about what quality means to UHY in our Capability Statement, where clients share their experiences of working with our member firms.

In other words, quality is an operational imperative for UHY, but we never stand still. Regulators, clients and the wider business world move on, and we move with them. We are a top 20 global accountancy network for a reason. We work hard for our clients, even when nobody is watching.


*IFAC is the International Federation of Accountants. “We are the global voice for the accountancy profession. We serve the public interest through advocacy, development, and support for our member organisations and the more than 3 million accountants who are crucial to our global economy.”  Source: www.ifac.org






By Rhys Madoc, CEO, UHY International

November 2021

One of the signs that a relationship may be breaking down, is when dialogue stops and as a consequence regular communication and engagement is disrupted.

Both personal and professional relationships are similar, in that mutual trust and understanding are crucial, and both are prone to leach away over time unless the parties involved actively work to maintain them.

Cementing relationships

In accountancy, for example, there is always a risk that a relationship may drift. At the start of a contract, dialogue is regular and frequent, as the scope of work is agreed, benchmarks are set and timelines negotiated. In this honeymoon period, regular communication is a priority for everyone concerned.

As the relationship matures, that urgency can fade. The work becomes routine. As long as the tasks remain the same and are carried out satisfactorily, it is easy to believe that nobody feels the need for that random, off-diary chat. In client relationships spontaneity can start to feel like an unnecessary use of valuable time.

At UHY, I believe our member firms work hard to resist this tendency towards drift – indeed, I frequently hear how our longstanding clients value their ongoing relationships with our member firm professionals. If the last couple of years have taught us anything, it is that nothing cements relationships like regular dialogue. During the pandemic, UHY member firms around the world reported a range of positive outcomes for clients from unprompted, off-diary contact.

Talk is cheap – and valuable

To be clear, these are not sales calls or scheduled quarterly meetings. They might involve nothing more than a quick call to ask how the client is coping, or an unprompted email pointing them to a new source of Covid-related advice. Clients are appreciative of this attention, and often initiate these contacts themselves, if only because they are grateful for the opportunity to talk to someone who listens and understands.

What the pandemic shows us is the obvious – but sometimes underappreciated – value of honest and spontaneous dialogue. To me, this is too important to let disappear with the pandemic. When provider and client talk regularly, freely and without the time and subject matter constraints of a scheduled meeting, good things invariably happen.

At the very least, you build mutual trust. Talking through current challenges together reconfirms your relevance. Clients get to better understand your business and the value of service and expertise at their disposal. You show that you understand their world, and can keep them abreast of developments that might impact or benefit their business.

Dialogue is never wasted

Dialogue is a two-way street, and these occasions give both parties the opportunity to listen. Developing keen listening skills is important. By listening, we may each discover opportunities to add more value to the relationship.

Dialogue is never wasted. Open, honest conversations encourage clients, for example, to tell you what they need (beyond the basic stipulations of your contract), what they really value in your relationship, and the best way you can deliver your services.

Our member firms in the UHY network strive to achieve this kind of partnership in every engagement, to be the kind of professional provider a client can confide in, turn to for advice, solicit a recommendation from and look to when they want to be challenged or inspired. Ambitious businesses have always benefited from professional service experts who offer ideas and insight as well as competent technical skills. In short, they want trusted advisors.

Creating closeness

Both clients and advisors can make it easier for dialogue to flow. For example, swapping direct contact details, rather than generic ones. If you are located in the same city, it might mean meeting for a coffee every now and then. Or setting up a chat or instant message group, so either party can fire off a quick question by text when picking up the phone is not an option.

In my experience, clients also appreciate the sharing of relevant economic and industry news and the chance to discuss any implications for them specifically. And for accountants today, social media can be a great way to stay front and centre of your clients’ thoughts. Blogs, publications and newsletters all help.

Dialogue enables empathy and responsiveness to client needs. It provides a platform to offer value beyond tax or audit expertise. And it opens up the path to becoming a trusted advisor.

Umbrella photo by Redd on Unsplash

Calling photo by Magnet.me on Unsplash

Coffee shop photo by Toa Heftiba on Unsplash