The Trusted Advisor

As business owners, we are constantly evaluating our relationships with those companies that supply us with goods and services. For every different product or service we purchase there is one attribute or characteristic of our supplier that we consider to be the most important. When we conclude whether a particular supplier is good, bad or otherwise, we typically rely on one specific measure of their performance. For example, in the case of a fuel supplier the criteria may simply be price. For a supplier of steel it may be consistency of quality. For seed, yield rules. While the other measures of performance will influence our level of satisfaction with a supplier, a good or substandard result in this one critical factor will make or break the relationship.

At a recent conference hosted by the Canadian Institute of Chartered Accountants we were asked to choose the attribute of a chartered accountant that was most important to our clients. We were given a list of possibilities, each of which could have been the correct answer. There is one trait, however, that clients value most when evaluating their relationship with their accountant.

Let's see if you agree. The choices are:

(a) My accountant delivers on time
(b) My accountant is a person/firm of high integrity
(c) My accountant responds quickly
(d) My accountant provides excellent value for money
(e) My accountant understands my business/industry

As you can see, each of these is a desirable characteristic in an accountant. But there is one trait, according to a survey of business owners, which sets an excellent accountant apart from the rest:

My accountant responds quickly!

For the most part, the other traits on the list are a given. To even be in the running for excellence an accountant must have (a), (b), (d) and (e). But to be truly excellent, to be indispensable, to be bragged about and to be worthy of referral to other business owners, an accountant MUST be responsive.

And rightly so. Many business issues require quick action. By the time a business owner calls his accountant he has already spent considerable time plotting his strategy. He looks to his accountant for more information, for alternative solutions, for consequences or barriers, for counseling or simply for a reasoned, informed opinion. To be a valuable resource the accountant must either be immediately available, or respond at his or her earliest opportunity. If more information is required, the accountant must produce that information quickly to enable the client to solve his problem without delay.

In the Partner Performance section of our Client Feedback questionnaire we ask you to rate your engagement partner's responsiveness. To date we have received an average rating of 4.7 out of a possible 5, or 94%. While we consider this to be a very positive result, we are not necessarily satisfied. If this truly is the critical factor in our relationships with our clients, then we will do all we can to push this rating towards 100%.

A quick response demonstrates that we care; that we recognize you rely upon us for our advice and that you need our assistance now. A quick response says we know your time is valuable. It shows that we want to play an important role in your business, and we are truly interested in your success. A quick response means we value your business and we are striving to earn the most coveted status in the realm of client-professional relationships, that of the Trusted Advisor.

Brent VanParys

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