It’s hard to ignore technology’s growing presence and impact in the office, especially if you work in the professional services industry. Accounting, law and consulting firms are anticipating major technical, behavioral and cultural shifts in the next few years thanks to technology. How will these shifts benefit—or hinder—business relationship management efforts at your firm?
For one, software and automation technologies are reducing time spent on mundane tasks that have plagued accounting, law and consulting firms for decades. Just take a look around your office. How many professionals do you see stuffing envelopes with invoices, or entering data into spreadsheets?
By 2020, robots will handle 40 percent of all basic accounting work. While some accountants might see this as a sign of losing their jobs, others might see a positive opportunity—a chance to focus on the relationships that drive business.
Technology is great with mundane tasks, like data entry and invoicing. But there’s one thing technology can’t do: establish and strengthen relationships with people. In the midst of a digital revolution, our relationship-building skills are actually more critical to business success than ever.
And the right technology can help you identify and foster those relationships. Introhive, for example, uses automated relationship mapping to arm you with valuable business intelligence that can help you seal the deal when you meet prospects and clients face to face.
Read on to learn more about why human relationships are still king in the digital age, how your business can leverage technology to make the most of them.
1. Empathy is in demand
Empathy is one area where humans have the market cornered (so far). And it plays a big role in business success, especially when it comes to building and nurturing relationships with clients and customers. Score one for the humans.
Plus, when they spend less time on mundane tasks (because the robots have that dull work covered) your team can spend more time where they’re passionate: proactively tending to business relationships.
As digital economy expert Dr. Irving Wladawsky-Berger put it in Forbes, “automating parts of a job will often increase the productivity and quality of workers by complementing their skills with machines and computers, as well as enabling them to focus on those aspects of the job that most need their attention.”
Technology can actually free your team up to become the empathetic, go-to consultants that clients turn to for help—from explaining new tax laws to navigating investment decisions.
2. Humans are storytellers
And data helps us spin compelling narratives. While computers and software provide tons of data, they lack the finesse and imagination required to turn that information into easy-to-understand stories that inspire clients and propel businesses forward.
That’s a honed, solely human skill that takes an experienced professional to analyze data and explain complex topics, like tax consulting, mergers and acquisitions and anti-money laundering.
3. Relationship intelligence automation reveals connections, opportunities
RIA tools, like Introhive, automatically collect, analyze, score and map all of your firm’s relationships to arm you with easy-to-decipher relationship assessments across all of your team members, suppliers, clients and prospects.
How? From transactional data to customer service inquiries to social media profiles and other online activities, RIA passively collects any information it can from inside and outside company walls. This gives you a more complete picture of who your customers and prospects are. (Request a demo from Introhive to see this in action).
Discovering “who knows who” and “who knows who best” through relationship mapping and scoring leads to stronger relationships—and can help you seal the deal when you meet prospects and clients face to face.
Get technology on your team that builds stronger relationships faster
While impressive robotics and artificial intelligence solutions are taking over mundane, time-consuming professional services work—like data entry and invoicing—human accountants, lawyers and consultants don’t need to fear this disruptive technology wave.
In fact, our human abilities to establish and foster relationships with people remain our biggest business strength. And trading spreadsheets in for calls and face time actually makes it easier for service professionals to better understand and serve clients.
Plus, with cutting-edge tools like relationship intelligence automation software from Introhive on your side, your team can a 360-degree view of your total network—and a major leg up on building and maintaining business relationships.