What’s the Best CRM for Accountants? Everything You Need to Know

Accountants are constantly juggling clients, deadlines, and mountains of financial data. If you don’t use the right tools, important details can easily get lost, leading to missed opportunities, unhappy clients, and a struggling accounting business.

A customer relationship management (CRM) system can help. In fact, there are a range of CRM software tools designed to support the needs of accounting firms, with the capacity to simplify work and help practices grow.

In this guide, we cover everything you need to know about choosing the best CRM for accountants.

Key Takeaways

• A CRM built for accountants can drastically change how you manage your clients and daily workflow.
• Implementing a CRM can help you work more efficiently, keep your clients happy, and grow your business.
• Great features to look for are contact management, task automation, and seamless integration with your accounting software.
• Prices differ based on the features of the CRM, so there are options for firms of all sizes.

Finding the Perfect CRM for Your Accounting Firm

Let’s look at why a CRM is ideal for accountants and how the right one can benefit your practice.

What Is a CRM for Accountants?

A CRM, or customer relationship management system, is a software tool designed to help businesses manage their interaction with current and potential clients. For accountants, in particular, a CRM helps streamline and automate a lot of your client management tasks, like keeping track of contact information, communication history, tasks, and financial data.

A CRM designed specifically for accountants goes beyond the basics by integrating with accounting software like QuickBooks or Xero. This means data flows smoothly between systems, reducing manual data entry and minimizing mistakes.

CRMs for accountants also often include tax deadline tracking, document management, and secure client portals for easy file sharing and collaboration.

Why should accountants use a CRM?

CRMs offer several benefits to accountants and accounting firms:

Manage your clients effectively

With a CRM, you gain a centralized hub to securely store comprehensive client data, including contact information, notes on client interactions, communication logs, and financial transactions. You can easily access and update client records so you always have the most accurate information at your fingertips. With better client management, you can provide more personalized and efficient customer service.

Get more done with less effort

A CRM can automate repetitive tasks like sending reminder emails or generating invoices. This frees up your time so you can focus on more important things like providing advice and attracting new clients. Streamlined workflows also help minimize mistakes and make sure important tasks don’t slip through the cracks.

Work together seamlessly

A CRM makes it easy for everyone on your team to work together. It provides a shared platform for client data and communication so everyone has the same, up-to-date information. It’s easy to share notes, tasks, and files related to each client. You get stronger teamwork, faster problem-solving, and better client service.

Unlock valuable insights

A CRM gives you insights into your clients’ behavior, preferences, and needs. You can look at client communication patterns, service usage, and financial trends to identify growth opportunities and anticipate client needs. Then, you can use this information to create targeted marketing strategies, optimize your service offerings, and stay ahead of the competition.

What key features should you look for in an accountant CRM?

With hundreds of CRMs on the market, how do you choose which is best for your accounting firm? Well, here are some of the most useful features of a CRM for an accountant.

Contact management: keep your contacts organized

At the heart of any good CRM is a strong contact management system. You get a central database where you store all your client information, including contact details, communication history, and financial data.

A great CRM lets you easily search, filter, and group your contacts based on things like industry, location, or the accounting services they use. This helps you quickly find the information you need and tailor your communication and services to each client’s needs.

For example, you might create a group for all clients who need quarterly tax filings, making it easy to send batch reminders or updates. You can also track important details like preferred communication methods or key people within a client’s organization, ensuring a personalized and efficient service.

Task management: stay on top of deadlines and workload

Accountants have to manage a lot of deadlines and tasks for each client, like tax filings, financial reports, and compliance requirements. A CRM with built-in task management features can help you stay organized and on top of everything.

This typically includes a calendar view, allowing you to visualize your workload and deadlines at a glance. Advanced CRMs might offer Gantt charts for project planning or the ability to set recurring tasks for regular client work, such as monthly bookkeeping or yearly audits.

Look for a CRM that lets you create, assign, and track tasks, set reminders, and monitor progress. Some CRMs even automatically track deadlines for common accounting tasks, like quarterly taxes or annual reports.

Document management: efficiently handle client files and paperwork

Accounting firms also deal with mountains of documents, like financial statements, tax returns, and client contracts. A CRM with integrated document management capabilities can help you store, organize, and share these files securely.

Choose a CRM with features like drag-and-drop file uploading, version control, and permission-based access to keep your client data safe and confidential. Some CRMs have e-signature functionality, which streamlines getting client approvals and signatures on important documents.

Document management features often include the ability to create standardized templates for common documents, saving time and ensuring consistency. Look for CRMs that offer a strong search functionality within documents so your team can easily find specific information across all your client files.

Client portal: provide secure self-service access

A secure client portal is a must-have for any accounting CRM. This portal is like a central hub where your clients can access their financial documents, communicate with your team, and even pay invoices online. By giving your clients a self-service option, you can reduce the number of routine inquiries and improve client communication.

Client portals can often be branded with your firm’s logo and colors, providing a professional and cohesive experience. Some advanced portals offer features like real-time chat support or the ability for clients to schedule appointments directly through the portal.

When you’re evaluating CRMs, look for one that offers a user-friendly, customizable client portal with strong security features, like encrypted data transmission and two-factor authentication.

Software integration: streamline your workflow across platforms

To make things as efficient and accurate as possible, your CRM should work seamlessly with your existing accounting software. When client information is updated in your accounting software, it should automatically sync with your CRM, and vice versa.

Integration capabilities might also extend to other tools commonly used by accountants, such as tax preparation software or practice management systems. Some CRMs offer API access, allowing for custom CRM integrations with specialized tools used in your practice.

Automation tools: reduce manual work and increase consistency

Automating repetitive tasks is one of the benefits of using a CRM. For accountants, this could include automating client onboarding, invoice generation, and email reminders. Thanks to automation, you can make sure important tasks are completed consistently and on time, without you having to do it manually.

Examples of automation in accounting CRMs include sending automatic follow-up emails after client meetings, creating task chains for tax preparation processes, or triggering alerts when clients’ financial data indicates potential issues or opportunities. Look for CRMs that offer a visual workflow builder, simplifying the creation process.

Analytics and reporting: gain insights for better decision-making

Your CRM should have detailed reports and analytics. Look for a CRM that offers customizable dashboards and reports so that you can track key metrics like client engagement, revenue growth, and team performance and improve your sales process.

You’ll also want to find a CRM that can create custom reports tailored to your firm’s KPIs and offer data visualization tools to help you present insights to your team or clients effectively.

Valuable insights might include identifying which services are most profitable, tracking client retention rates, or analyzing the effectiveness of marketing campaigns.

How much does an accountant CRM cost?

The cost of a CRM can vary depending on the features, number of users, and amount of customization you want. Some popular CRMs, like Salesforce and HubSpot, offer different pricing plans. Their basic plans start at around $25 per user per month, while their more advanced plans can range from $75 to $300 per user per month.

Some accounting CRMs have a single plan, keeping things relatively straightforward. TaxDome offers one plan that’s the equivalent of $66 per user per month, with further discounts for paying for several years in advance. This includes all features like workflow automation, client portals, and e-signatures.

Other CRMs use a more piecemeal pricing structure that allows you to pick and choose only the features you need. Canopy’s pricing starts at $45 per user per month for its Starter plan, which includes features for managing clients, sending proposals, and collecting e-signatures. It’s designed for firms with four or fewer staff. For larger firms, the company offers plans for unlimited users starting at $150 per month. However, there are additional costs for having over 2,500 clients and features like document management, workflow, and time & billing.

It’s important to think about the long-term value a CRM can bring to your accounting firm when you’re considering the cost. While the initial investment might seem like a lot, the efficiency gains, improved client satisfaction, and potential for business growth can more than justify the expense.

Top Accountant CRM Platforms to Consider

Here are a few top CRM platforms specifically designed for accountants:

TaxDome: TaxDome is an all-in-one practice management solution that includes a powerful CRM, client portal, workflow automation, and document management. Its user-friendly interface and comprehensive features make it a popular choice among accounting firms.

Canopy: Canopy offers a cloud-based CRM that helps accountants streamline client management, automate workflows, and collaborate seamlessly with their team. It also includes a client portal and integrates with accounting software like QuickBooks and Xero.

Karbon: Karbon is a practice management platform that combines CRM, workflow automation, and team collaboration features. Its CRM includes contact management, email integration, and a centralized client database, making it easy to manage client relationships and communication.

Salesforce for Accounting: Salesforce, a leading CRM provider, offers a customized solution for accounting firms. It includes features like client management, workflow automation, and analytics, as well as integrations with popular accounting software and third-party apps.