Improving mutual understanding for effective client-accountant relationships: Practical insights and strategies

How can accountants become effective advisors? This research examines how advice to entrepreneurs can be made clear and actionable, using tools like a skills matrix, training, and insights into clients' willingness to pay.

In short

The role of accountants is rapidly evolving due to digitalization and the reduction of manual bookkeeping tasks. This study focuses on strengthening the advisory role of accountants, emphasizing the improvement of “mutual understanding” (MU) between accountants and their entrepreneur clients. Through interviews, observations, and practice-oriented tools such as a skills matrix and training, this research provides accountants with actionable strategies to deliver clear and practical advice.

Need and relevance

Digital transformation is reshaping traditional accounting roles, pushing accountants toward advisory positions. However, many accountants lack preparation for this transition, complicating client relationships. This research addresses these challenges by exploring how accountants can enhance the perceived value of their advice and better meet client expectations.

From approach to impact

The study answers three critical questions:

What skills do accountants currently use to make their advice understandable and actionable?
How can training further develop these skills?
What factors influence clients’ willingness to pay for advisory services?

The research combines interviews and observations of advisory conversations to assess the clarity and usability of financial advice. It develops a skills matrix outlining essential competencies and tests it through tailored training. Additionally, it investigates parameters affecting clients’ willingness to pay for advisory services. The findings offer actionable guidelines and tools to help accounting firms improve their advisory practices and adapt to their changing roles.