Use predictive analytics to target high-impact tax clients

Premier customer service is crucial in sustaining any sort of business during an economic downturn. Regularly providing valuable services to clients may not be good enough to forestall a drop in client retention. Today, many businesses need to go above and beyond to promote longstanding, committed relationships. Some clients may prefer to work with businesses that promote a sense of care and concern. Being “looked after” by an expert is a rare and valuable commodity.

But you’re just one person! How do you maintain regular client touch-points throughout the year when you have hundreds of clients under your care? How do you make the consumption choices that lead you to focus on one set of clients above another? These are tricky problems that you should not take lightly or ignore.

Level up your tax advisory workflow

In a tax advisory workflow, unearthing engagement opportunities may be the easiest step of the process. Even many people who aren’t well-versed in the tax and accounting world know something about PPP, TCJA and all the other acronyms we know and love. But they need your help to understand how specific aspects of these issues impact them.

Understanding the matters at hand is one thing; being able to contextualize current events to your clientele is an important next step. Analyzing not which but why certain clients are impacted by a tax legislation helps narrow your focus to those clients who need your help about a particular matter. This gives your relationship focus and purpose.

Let Predictive Analytics help

CCH Axcess iQ provides this focus by its use of predictive analytics – the ability to help you plan for the future based on a deep understanding of current tax return data. CCH Axcess iQ provides a list of current and relevant tax events, with in-depth analysis of every issue. Each event includes a list of clients potentially affected by the event.

But even this information may be insufficient when your list of affected clients is hundreds or thousands of lines deep. For productivity’s sake, you must decide which clients you need to engage first, and which ones are less important.

For example, when planning individual tax returns, you may want to offer advice for those engaged in charitable giving. CCH Axces iQ offers up-to-date guidance with content directly from CCH AnswerConnect, as well as a list of your clients that engaged in charitable giving this year and last. Next, consider additional factors by filtering this list by the dollar amount of charitable giving, itemized deductions, and adjusted gross income. Weighing your potential engagements using additional relevant reporting definitions results in more productive and valuable engagements.

Having more client-centered data at your disposal provides greater clarity and smarter workflows that benefit your business as well as your clients. To learn how to take advantage of next-generation tools like CCH Axcess iQ, contact a Solutions Consultant or register for a demonstration today.


Jonny Rector

Senior Technology Product Manager

All stories by: Jonny Rector