Rethinking the accounting relationship, an indispensable dimension

The accountant is part of the environment close to a business manager, accompanying him throughout his life as an entrepreneur. Indeed, the accountant advises in terms of investments and financial situation, and is a privileged partner. A relationship that, with COVID-19, has evolved considerably. Containment and shutdown of many businesses has had a significant impact on their cash flow and decisions. A delicate period of questioning, where the support of the accountant allows to find viable solutions for the recovery and the future of the company.

A close relationship in a period of confinement

Mandatory confinement for businesses and employees has changed habits that are well-entrenched in everyone’s daily lives. Accounting firms have also had to adapt, and propose partial unemployment or the use of telework. This is the choice made by extencia, based in Bordeaux. During this unprecedented period, companies and their executives needed the support and advice of their accountants more than ever. Practical advice on finding the most appropriate solutions for their business to bounce back after the end of containment. Thus, a real close relationship has been established, allowing to support entrepreneurs.

The “phygital” solution, You by Extencia, allows us to maintain closeness with our customers, without breaking social distance, using digital tools. The evolution of these allows to evolve the relationship between the client and his accountant, to help him in all circumstances. It also allows new entrepreneurs to launch safely, with a complete analysis of the market and the project. An indispensable solution to launch serenely, without rushing, with the support of a network made available. At the same time, existing corporate clients can benefit from the setback and the information held by their accountant in real time. Useful to have all the information about aid paid by the State or the Region, offered to companies during COVID-19.

A relationship of trust, a symbol of market expertise

The accountant is important to business leaders. According to a joint study by OpinionWay and Cegid in February 2020, 91% have total confidence in their accountant. This is easily demonstrated by analysing the frequency of contacts: 76% have monthly contacts. This proves that the role of the accountant with the executive is paramount. It influences final decision-making. In SMEs, this role is highlighted: 98% of entrepreneurs surveyed consider the accountant as the preferred interlocutor for exchanges. The questions of business leaders are mainly about their strategy, which is decisive for the future of their company.

That’s why their accountant has such a central role to play in the entrepreneur’s ecosystem. He is able to bring an overview of the evolution of the company, and to correlate it with its market. More than a contact, he positions himself as a true ally for the sustainable development of the company. Thus, large groups such as In Extenso or Fidaquitaine are positioning themselves in Bordeaux as close as possible to business leaders. Accountants therefore provide them with their expertise, advice and give them the keys to move forward serenely.

The accountant thus allows the entrepreneur to anticipate all the obstacles that may occur during the life of the company. Although in the majority of cases, companies use lawyers, accountants once the problem has happened. This is a difficult situation, and the solution takes a long time to operate. That’s why accounting firms have continued to operate, to continue to help and support their clients.

Prospects for expansion in a changing market

The number of companies created increased by 18% between 2018 and 2019, according to a study by INSEE. This finding shows the entrepreneurial potential of the French. In New Aquitaine, the number of companies created between 2018 and 2019 has increased by 15.7%, which also proves that the region is particularly dynamic for the creation of new companies. Job-creating companies that contribute to regional dynamism and develop the entrepreneurial fabric. For accounting firms, the potential generated by these new companies is to be seized. Indeed, starting a business is a key step, where the manager must be surrounded and well advised. The Extencia firm has therefore chosen to get closer to Hemeria, in order to be physically present with new entrepreneurs. This allows us to establish a close relationship, more than ever listening and present.

The profession of accountant has evolved well, but above all retains its status as a privileged interlocutor with companies. At the beginning of the activity, and even after several years, the manager can rely on the advice of his accountant. Allied on the financial management of the company, but also good advice on strategy, it allows the entrepreneur to make the right decisions. It also allows him to have a longer-term vision, essential to evolve serenely.

Sources:

Business start-ups in 2019 – INSEE 2020

You by Extencia

According to a Cegid/Opinion Way study in collaboration with Entrepreneurship Network, entrepreneurs are calling for more support in their decision-making

Entrepreneur Barometer 2020 by Cegid and Opinion Way

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