Picture this: you're knee-deep in a client's file, and the deadline for VAT submission is looming. You've sent three email reminders for a missing document, and the client's silence is deafening. Sound familiar? This is the reality for many UK accountants, where inefficient document chasing eats up valuable time and energy that could be better spent on billable work.
Manual document chasing is inefficient. Accountants often rely on email, phone calls, and even snail mail to chase clients for necessary documents. This approach is fraught with delays and human error. According to HMRC, missed deadlines can result in hefty fines, not to mention the damage to client relationships. The key issue is the reliance on outdated methods that require constant follow-up and lack visibility on client responsiveness.
A significant pain point is the manual nature of tracking these interactions. Without a streamlined process, it's easy for accountants to lose track of which documents have been received and which are still outstanding. This often results in missed deadlines and frustrated clients. The manual method also fails to prioritise tasks, meaning urgent documents might not get the attention they deserve. This inefficiency leads to a loss of time, which could be better spent on billable tasks.
Improving document chasing starts with setting clear expectations with clients. When onboarding new clients, clearly define the timeline for document submission. Use engagement letters to outline these deadlines. This sets the stage for a proactive rather than reactive approach.
Next, adopt a centralised system for tracking document status. This could be as simple as a shared spreadsheet or as sophisticated as a practice management software like [ilmove Accountancy](/blog/accountancy-250k-revenue-systems-scaling-with-efficiency). Such systems provide visibility into which documents are pending, which are complete, and which are overdue. Automated reminders can be set to go out at predefined intervals, reducing the need for manual follow-ups.
Another best practice is to categorise documents by urgency and importance. This helps prioritise tasks and ensures that critical documents are chased first. By creating a prioritisation matrix, accountants can streamline their chasing process, focusing on high-impact tasks.
Automation is a game-changer in document chasing. It reduces the need for manual intervention and minimises errors. For instance, ilmove Accountancy automates reminders for document submission, ensuring clients are kept in the loop without constant manual effort.
Automated systems can also track client interactions, providing insights into responsiveness and flagging clients who require additional follow-up. This data-driven approach allows accountants to tailor their communication strategy, improving client engagement and satisfaction.
Automation doesn't just stop at reminders. It can also integrate with email systems to send out documents for e-signature, reducing turnaround time. This is particularly useful for compliance documents that require quick approval.
ilmove Accountancy streamlines the entire document chasing process, cutting the typical chasing time from weeks to mere days. With its built-in deadline tracking feature, you can stay ahead of VAT, corporation tax, self-assessment, and payroll deadlines without breaking a sweat.
One of the standout features is the automated client communication system. It sends reminders and requests automatically, so you don't have to chase clients manually. This feature alone can save hours each week, allowing accountants to focus on more strategic tasks.
The platform also includes a robust tracking system for outstanding balances, ensuring that unpaid invoices are chased promptly. This means no more lost revenue due to missed payments. By automating these processes, ilmove Accountancy helps firms reclaim up to 15% of billable hours typically lost to unbilled work.
To implement efficient document chasing in your practice, start by assessing your current process. Identify bottlenecks where delays frequently occur and determine if these can be automated.
Consider integrating a practice management software like ilmove Accountancy to centralise and automate your document chasing. Such platforms provide a comprehensive solution, from onboarding to invoicing, ensuring that no step is overlooked.
Finally, train your team on these new systems and processes. The transition to automation requires a change in mindset, and staff need to be comfortable with the technology. Regular training sessions can help ease this transition and ensure everyone is on the same page.
Streamlined document chasing isn't just about reducing time spent on follow-ups; it's about improving client satisfaction and increasing your firm's efficiency. With the right tools and strategies, you can transform this traditionally laborious task into a seamless part of your practice workflow.
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