April 4, 2024

Episode 103: Vangelis Kyriazis, CEO of Syft

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The Story

How do you take a customer’s viewpoint of your accounting firm’s service offering from a 'would-like' to a 'must-have' perspective? If you can get to 'must-have', those customers will likely buy more and pay more because the perceived value is potentially higher.

We welcome on this podcast discussion Vangelis Kyriazis, the co-founder and CEO of Syft, builders of a KPI reporting product, now with 150,000 business customers worldwide and working through 3,000 accountancy firms.

Vangelis is a chartered accountant who's unpacked what it takes to hold essentially two conversations – the conversation about the operations of your client's business and the financial services conversation. Not operations OR finance, but both, because these two conversations will help to build a deeper relationship. Build a deeper relationship and your clients stay loyal for longer, they buy more from you, they recommend you more and are probably more open to higher prices as well.

Please join me on this podcast discussion and see how Vangelis can influence your thinking in the way he's influenced mine when it comes to the profound operational and financial conversations that build those deeper relationships.

Scroll down this episode page for the contact information for Vangelis and for the additional, downloadable resource mentioned in this podcast.

The Solution:

What I care about is the customers signing up, where they're signing up from, how many accountants in the UK are coming on and which plans are they buying.

Are they buying our essential or professional plan and which customers are cancelling?

All of that data sits in Stripe, which is our billing provider and that's what we use to do analytics on those numbers.

Syft does analytics on Stripe data and we use that to know who's signing up, where they're signing up from and which conversation we should be having with them.

It’s more on the operational side and that's what we care about as a business, but also as a team. We're quite high touch when it comes to customers. We have lots of conversations. We're having hundreds of video calls a week with our customers around the globe and it's important to know where they are, what they need, and what problems we can solve for them, so we continue to build features and functionality that solve accountants' challenges.





Connect with Vangelis

Connect with Paul

Resources relating to this podcast:

During the podcast, Paul and Vangelis discuss the importance of KPIs and the importance of measuring the right things, and not getting bogged down in measuring too many numbers.

Vangelis talks about keeping it simple for the clients – having perhaps 5 key KPIs on one page with a simple sentence explaining each one.

He also recognises that the bigger the business, the more complicated the KPIs sometimes need to be. You should still ensure, however, that you are measuring the right things.

He also talks about how enjoyment can come from measuring and discussing the numbers relating to the operational side of the business – the customers and the products. He believes discussing these numbers with your client helps you to understand the drivers of the business and builds a better relationship with the client in the long term.

Most accountancy firm owners and managing partners measure what they think is right rather than measure what matters most.

We know accountants love to track and measure – let’s make sure you track and measure the right things in your firm and for your clients. Click here to read this Business Breakthrough report – Healthy Heartfelt KPIs – and discover how to use them as key PREDICTIVE indicators.

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