In businesses, change is inevitable. Have you ever felt the need for change in your business? Maybe you have a team providing reliable accounting services in the Philippines that you have been working with for so long and you find it tough to let them go even when things do not work for you anymore. Because of your relationship, you sort of feel that it is a waste to bid goodbye to your old CPA firm. Indeed, changing to a new firm is a difficult decision to make.
Have you ever heard of the sunk-cost fallacy? If something is not going the way that you planned, you would want to go with what you are familiar with. Even if you know the risks and losses, you will always stick with it. In the long run, you will find out that it will cost you even more to stick with what or who you are comfortable and familiar with. So you better make that change if it’s for the best of your company.
This applies to your decision about whether or not you should change your CPA firm. No matter how tough the decision is, if you need to make changes, you have to do it for the betterment of your company. If the reason why you are changing firms is to improve your business, that is enough reason for you to look for greener pastures. Don’t be afraid of making radical changes to get where you want to be.
Always Prioritize the Welfare of Your Business
If you continue to work with inefficient tax and accounting services in the Philippines, this could affect your operations. When your operations are affected, your income and the income of your employees will also be affected. Your employees also depend on the accounting service and if the firm can no longer give what your business deserves, you have to make sure to prioritize your business. If you need to make that change, make it. There should be no hard feelings especially if you are working with outsourced professional accounting service providers.
Be Clear and Honest with your Previous CPA Firm
When you decide to change your accounting service provider, you have to honestly and clearly explain to your previous firm your reasons for switching. You have to do it in a way that will not end in bad terms. It’s important that you exit with grace in the world of business. You have to ensure you don’t burn bridges because there is a chance that you might encounter them again in the future.
Ask for Guidance and Gather Data For Easy Transition
Ask your previous firm politely to share your data. Usually, professional accounting and bookkeeping services in the Philippines won’t mind doing so as it is all part of business. It’s natural for clients to come and go. This is also one of the reasons why it’s important that you and your previous firm don’t end on bad terms. The change will be so much easier once the basic information is gathered. Your transition to another firm could have faster progress if your previous CPA firm shares client information with your new CPA firm. They will also be discrete enough not to reveal the information to other parties who are not involved.
Hold an Honest Discuss with your New CPA Firm
You have to hold an honest and open discussion regarding what you want for your business with your new team. Let your new CPA firm also realize what you are looking for in a firm so they know what to expect and give their best in providing the service that your business deserves.
Meet the New CPA Firm Team Members
It is important to meet the new team members you will be working with. This is a great way for you and your employees to have something to look forward to. You can find out how organized your new accounting service provider is and see if their auditor can clearly communicate and respond to your questions. You will be able to know your expectations and adjust them.
Switching your accounting service provider especially if your previous one is no longer efficient and effective for your business will definitely add to the value of your business. It won’t be an easy decision. It will be challenging to find a new firm that is professional, organized, and easy to communicate with. However, trust that it will all be worth it in the end especially if you already built a connection and strong relationship with the new team.
Ready to make the leap toward more efficient accounting services in Pasig and beyond? Contact our team today for a seamless transition and a brighter future for your business. Your success is our priority, and we’re here to provide the professional support your company deserves. Don’t hesitate—reach out now and let’s embark on this journey of positive change together!