CHOOSING ACCOUNTING FIRMS: IS BIGGER BETTER?

Effects of Firm Size on Accounting Services

As your financial activity increases over time, dealing with these matters alone becomes increasingly difficult, thus rendering the necessity to hire a business consulting entity. When considering which accounting firm to hire, you may initially go with a big-name firm because of their popularity and uncontested marketing. What you may not realize, are the trade-offs that come with choosing a larger one, as there are many uncontested qualities displayed by a mid-sized firm such as Watkins & Company. Here are 3 advantages of hiring a smaller firm ingrained in its community rather than a large “prestigious” firm.

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  1. Communication and Availability

Imagine your computer malfunctions containing many important files, leaving you to call tech support. Tech support then continuously puts you on hold, transferring you between representatives, ultimately leaving you where you started. Now imagine the same scenario occurring… but with your finances.

Clients commonly undergo initial interviews at larger firms under the impression that they will work together personally. The client follows through with high hopes before being handed off to a lower level employee. At a smaller firm, a client typically reaches their accountant by phone or email throughout the day, especially important during emergencies. Clients can also expect to communicate with the same individual throughout an entire business consulting matter.

  1. Prioritizing the Client

The vast number of clients handled in day-to-day operations is an obvious indication of prestige for larger firms. This makes it easy to feel like just another number in the system. You may not even know the name of the accountant primarily working for you! However, Watkins & Company demonstrates prestige with the ability to build a lasting relationship with clients. This relationship gives the client more assurance in the firm’s motivation to improve their financial position. This calls for more one on one time, giving the peace of mind that comes with knowing a professional makes your financial performance a priority.

  1. Consistency

Dealing with several different accountants and representatives when working with a larger firm is a norm because of shifts in client priority. In addition, there is a much larger employee turnover rate. Many clients will experience a full change in personnel because of accountants leaving/joining the firm. This creates a problem of consistency that is not commonly seen in smaller accounting firms with lower turnover rates. Smaller firms can ensure that once the client is comfortable with the way his or her finances are being handled, the same can be expected from there on.

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In summary, many smaller firms have advantages dealing with clients on a personal level. They specialize in making their experience and relationship one built on trust through proper communication and consistent service. Obviously, larger firms are successful in accomplishing a great amount of work for huge corporations. But mid-sized firms such as Watkins & Company are unrivaled in our approach to building lasting relationships with clients.

By

Ricky M. Hackler

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