While a certain amount of number crunching is indeed involved with accounting, creativity also comes into play, particularly when trying to solve complex financial problems, and make strategic decisions for the betterment of clients.
No longer an industry of tradition that has stagnated over the years, the role of accountants has changed as drastically as the times we live in, and those who don’t move with those times, get left behind. Whether you use tax outsourcing services, or take care of everything in-house, adopting a creative approach to accounting and fostering this among your workforce, can help your CPA firm grow.
How can creativity help a CPA firm grow?
Whatever profession or industry a person is involved in, and at whatever stage of their career they happen to be at, growth is desirable, and creativity can help them achieve that by enabling them to:
Solve problems more effectively
From balancing the books to spotting reconciliation faults and optimizing financial procedures, creativity enables an accountant to approach each new challenge from a flexible, fresh perspective. By thinking outside of the box and using their imagination to come up with solutions that other CPA firms might overlook, they can tackle crucial financial conundrums with ease.
Think more strategically
Creativity helps to foster thinking of a more strategic nature among accounting professionals, and with enough foresight and open-mindedness, CPAs can anticipate trends, spot opportunities, and come up with financial strategies to help their firm grow. Whether they’re maximizing budgets, meticulously planning a clients taxes, or exploring new streams of potential revenue, a creative mind can be a valuable tool for both clients, and leaders.
Inculcate communication and collaboration
Effective communication is essential for CPAs and accounting professionals, but it doesn’t always come naturally, and is often overlooked. An accountant who strives to develop their creative side will often be better equipped to communicate their ideas in an effective manner, to help them achieve the best results. With the use of engaging narratives, informative imagery, and striking presentations, creative accountants can deliver their message in a powerful, concise, and compelling way. From putting together financial reports to collaborating with other professionals, a creative accountant is able to bridge the often wide gap between the numbers, and the narrative.
Be innovative
The accounting landscape is always changing, and accountants who are stuck in the old, traditional mindsets and ways, will simply never be able to compete with accountants who embrace innovation, technology, and ultimately: change. An accountant who thinks and acts creatively, can help their firm stay relevant, and in many instances, get ahead of its competitors.
Creative thinking lays the foundation for spotting inefficiencies, identifying potential opportunities, and putting new, innovative approaches into place. From AI automation to make processes more streamlined, to developing a new product or financial solution for clients, by embracing innovation, CPA firms can take traditional business models to dizzying new heights.
Grow personally and professionally
CPA firms not afraid to explore their creative sides will often achieve both personal and professional growth, and at a rate far quicker than others. Such a mindset allows for self-challenging behavior, broadened perspectives, and growth within the role.
By continually learning and forcing themselves to adapt to new situations in a continually changing financial and regulatory environment, creative CPA firms have it in themselves to push for the top, for the betterment of themselves as individuals, and for their firm.
A creative approach to accounting often involves a willingness to explore other avenues, too, such as when they outsource bookkeeping services to India to cut down on costs while still being able to satisfy their existing clients, and attract new ones. As an outsider, you might perceive accounting to be a staid profession in which little has changed for decades, but the reality is that so much has changed (and continues to do so), and by embracing creativity and thinking beyond the norms, CPA firms can truly excel in an everchanging industry.