Teamwork: The process of working collaboratively with a group of people to achieve a goal. So, what’s the goal? Creating a healthy and thriving client accounting and advisory services (CAAS) practice.
A strong CAAS practice includes three elements: people, processes, and technology. Hopefully, you’ve established a strong internal team with efficient training and processes already. The third and equally critical element to the success of a thriving CAAS practice is the foundational technology upon which it is built.
In today’s competitive market, you cannot afford to entrust the critical elements of your daily client offerings to unreliable technology partners (think automation and scaling). It’s best to build technology vendor/supplier relationships on solid communication, trust, and an unwavering commitment to the success of the mutual client. A critical first step is researching and vetting any potential technology partners to ensure they are the right fit for you and your clients.
Ok, you’ve done your research and selected your technology partners, so how do you ensure the partner relationships you’ve decided upon are successful? Let’s explore some best practices to keep in mind as you work to establish your partnerships and take them to the next level.
Nothing is more important than open communication and ensuring you and your partners align on the expectations for delivering exceptional client experiences. Remember to:
DTR: Define the relationship
DTW: Do the work
DIT: Do it together
When you work as a team to find solutions, there is much to be gained for both you and your partners, and especially your mutual clients. Every partner you select might not turn out to be the right one, but by implementing the best practices above, you have the best chance at success. Be willing to devote the time to research, develop, and nurture your partnerships, and you’ll find teamwork truly does make the CAAS dream work.