4 Common Challenges Faced by Corporate Accounting Firm Owners Today

Posted by Jan Victor Valencia
Jul 29, 2020
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What are the challenges in the accounting industry today amid the global pandemic? What are the ways to avoid them? How do you overcome these challenges? Find them out in our latest infographic.


Attracting and Retaining Clients

The COVID-19 pandemic caused a massive freeze in operations, leading to loss, and even harder retention of clients.   One way to avoid this situation is to position your services as an important function to weather the crisis, and offer them to companies who are looking for value-adding services.


Acquiring New Talents

Talents are always a prevalent demand. Due to the ongoing crisis, acquiring top-notch talents became more sought-after to help businesses get back up. Though this is a challenge today, remote recruitment is one way to go if you need new people onboard. 


Dependence in Accounting Technology

Now more than ever, maximizing technology is an important part to stay afloat. Leveraging cloud accounting technology can greatly help in streamlining your processes and automating your manual tasks. 


Greater Client Expectations

Accounting firms are not only providing number-crunching and financial reporting, but are also a source of industry expertise. Clients expect to have a valuable word from your end to resolve their issues.

Align your firm with the type of clients that you can serve best and nurture relationships with these kinds of businesses. This way, you guarantee that building a successful engagement with your clients is possible.


Meeting your client’s needs can be overwhelming and a little too much to grasp for your team. But with the right accounting partner, you can surmount the challenges often faced by the accounting industry.

You can get our downloadable guide D&V Philippines' Solutions for Australian Accounting Firms to know how we can provide you with a reliable back-office accounting support so you can focus on growing your business.


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