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My daughter frequently inspires me with her Pippi Longstocking mentality. She approaches her surroundings with the idea that if she runs into a challenge, she will always overcome it. I wish that ‘us grownups’ could adopt that particular mentality. Believing that we can overcome challenges, moving more freely, embracing change and opt for new opportunities. Opportunities that pave the way for collaboration and sparring. As far as I know change doesn’t happen on its own. It takes guts and willpower to face innovation.
I would like to encourage everyone to find the guts and courage – companies as well as accountants. The sooner it happens - the faster we are able to build the basis for an essential collaboration for us to build stronger companies together. There is no way around a digital future. This calls for collaboration, which Brian Mikkelsen, CEO, The Danish Chamber of Commerce, stresses in the foreword of this whitepaper:
– If Denmark is to become more prosperous, we must ensure that we are ready to embrace the opportunities. We must be aware of the potential that lies within optimizing the collaboration between companies and their advisors. Through a closer collaboration we will obtain knowledge that prepares and enables us to make the right decisions.
Counseling is part of the solution
In our previous whitepaper an internal study showed that 89% wishes to share their data with their bank. The goodwill is present but it requires an effort from all parties if we want to limit the gap by getting closer to one another. This requires, among other things, that we break down the barriers that are currently keeping the collaboration from flowing unrestricted. But it means that we have to realize the great value behind a fixed focus on advising at a more individual level.
As with any other ecosystem each link influences the rest of the chain. If a company doesn’t manage to stay on top of their bookkeeping, the accountant can’t access the full and correct data overview. As a result the accountant is not able to advise the client to the best extent, and the company is not able to fully grasp their financial situation. If the bank advisor doesn’t have access to correct data on his/her customer, decisions that are not merely based on knowledge and facts will be made. And guesswork has never been the best business strategy.
Luckily, the help is already available through a sphere of digital solutions.
At Crediwire we have created a platform with a data structure based on a solid foundation that sets the terrain for collaboration between accountants, companies and banks. A platform that enables you to create customized experiences based on the customer’s needs and realtime data. This is one of the solutions that will help us become even better at what we are already doing. Whether we are a bookkeeper in a small town or a landscaper in the countryside.
When we succeed together
During my time at Crediwire, I’ve seen countless examples of successful partnerships. It makes me happy and showcases an example that our inner Pippi Longstocking has spoken. We are out in the deep, foreign and new, but without worrying about what might go wrong.
The Spar Nord and Kvist & Jensen case inspires us to see that we can stay on top of things if we believe in community. If we choose to spot the opportunities and wash away the limitations we can work together on optimizing the framework between accountant, company and bank.
We enfold new opportunities, solutions and perspectives because we are fully aware of the potential for value creation that awaits. And it only increases with a confidence in the potential of successful collaboration.
Now the accountant is able to see direct results of positive client feedback and increased turnover as he now targets his reports to the individual customer. Now the bank advisor understands the importance of knowing the client's needs: "We spot an opportunity for you to increase liquidity if you increase the amount of leased resources". To the company the present and proactive counseling will generate peace of mind and fewer sleepless nights. All in all, the mere feeling of a full financial overview is crucial for both company and advisor.
True harmony is created when each and everyone in the ecosystem gets value in return from what they invest in the collaboration. It seems that most of us need to clarify the question "What's in it for me?", before we can see the benefits of the collaboration.
It’s about building stronger companies. We must boost innovation, increase competitiveness and retain top talent. That’s the way to create a brighter future. A future that allows us to solve exciting and critical problems - that is how we create a stronger society one company at a time.
Be curious. Spot the opportunities. Embrace them and take a giant leap.