As a tax advisory firm managing over 200 clients, we discovered that one size doesn’t fit all when it comes to engagement letters. Our journey from manual processes to a streamlined digital system transformed how we handle multiple service tiers. Here’s our story of implementing FigsFlow’s engagement letter software for tax advisers and the lessons we learnt along the way.
The Challenge: Growing Complexity
Three years ago, our firm offered just two service levels: basic tax preparation and comprehensive advisory services. As we expanded into specialised areas like international taxation and estate planning, we found ourselves juggling five distinct service tiers, each requiring different terms, conditions, and pricing structures. Our Word templates couldn’t keep up, leading to inconsistencies and occasional scope confusion.
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The Digital Transformation
The turning point came when we implemented specialised engagement letter software. The impact was immediate and significant.
Template Standardisation
We created master templates for each service tier, ensuring consistent language while maintaining flexibility for customisation. Each template included:
- Clear scope definitions
- Specific deliverables
- Response timelines
- Fee structures
- Client responsibilities
- Automated Customisation
The software allowed us to build decision trees that automatically adjusted engagement letter content based on selected services. When a client opts for multiple services, the system intelligently combines relevant sections while eliminating redundancies.
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Version Control and Updates
Gone are the days of hunting through email threads for the latest version. Our digital system maintains a clear history of all engagement letters, making updates and renewals significantly more efficient.
Real Results
The implementation of engagement letter software has delivered measurable improvements:
- Reduced preparation time from 45 minutes to 8 minutes per engagement
- Decreased scope-related disputes by 78%
- Improved client understanding of service boundaries
- Streamlined upselling process for additional services
Key Lessons Learned
Start Simple
Begin with your most common service combinations and gradually add complexity. We initially tried to digitise everything at once, which proved overwhelming.
Invest in Training
Proper staff training is crucial. We dedicated two full days to training, which paid off in reduced errors and faster adoption.
Client Communication
Clear communication about the new digital process was essential. We created a simple guide for clients, explaining how to review and sign documents electronically.
Regular Reviews
We now review and update our templates quarterly, ensuring they reflect current services and regulatory requirements.
Moving Forward
The flexibility of our digital system has positioned us well for growth. We can now easily introduce new service tiers or modify existing ones without creating administrative bottlenecks.
Managing multiple service tiers no longer feels like juggling chainsaws. Our digital engagement letter system has transformed a once-dreaded administrative task into a streamlined process that adds value for both our firm and our clients.
