Client experience now a top growth priority for UK accountancy firms, Moneypenny research finds
UK accountancy firms are putting client experience at the heart of their growth plans, according to a new Censuswide Survey commissioned by Moneypenny.
The Accountancy Client Journey Survey, which polled senior decision-makers across practices of all sizes, shows a sector balancing client acquisition and retention while embracing new technology to sharpen service delivery.
Almost four in ten firms (39%) say attracting new clients is their main strategic focus over the next 12 months, while 61% are working to balance gaining new clients with loyalty. Encouragingly, more than eight in ten firms (81%) have an actionable plan to improve client service.
Technology and AI are playing an increasing role. Over half of firms (52%) plan to deploy AI-powered tools to enhance client experience, and nearly as many (46%) already use AI to collect and analyse client feedback. Yet challenges remain. One in four cites technology limitations as a barrier, and almost the same proportion points to client resistance to change.
When it comes to communication, email remains dominant, relied upon by 77% of practices. However, 24% admit that slow internal responses are their biggest pain point, and almost half (44%) are investing in ways to speed up handling client queries. 61% now reply to new enquiries within four hours, but 13% still take a day or two.
The financial cost of poor service is becoming clearer. Among firms that have estimated the impact, 65% put annual revenue loss at up to £100,000. Retention is relatively strong with 44% reporting clients stay an average of four to six years, and only a small proportion leave within the first year. Departures are most often linked to changing client needs, price sensitivity and lack of proactive communication.
Moneypenny, the world’s leading customer conversations company, says the findings underline the profession’s shift toward service excellence.
“Accountancy is no longer just about technical expertise. Clients expect fast responses, personalised support and proactive advice,” said Louise Walpole Head of Finance Sector at Moneypenny. “It is encouraging to see firms investing in AI, technology and training to deliver a great client journey, but the research also shows how crucial it is to remove bottlenecks in responsiveness and to keep communication personal, relevant and contextually right.
The study also highlights clear differences by firm size and region. Large practices are far ahead in AI adoption with two-thirds already using it to answer client queries. Sole traders stand out for speed, with every respondent saying they reply to new enquiries within an hour. Regionally, the North East faces the highest challenge in retaining staff and in losing clients due to lack of proactive communication, whereas Northern Ireland leads the way on rapid response times.
The Accountancy Client Journey Survey demonstrates a profession in transition. Firms are embracing technology, investing in people and focusing on client experience as a competitive advantage.
