key components and how to optimize them.
by jackie meyer
we have discussed how solid systems and processes can streamline your operations and boost efficiency. now, it’s time to delve into the specific technologies and software that can truly transform your advisory practice and propel your growth. we’re going to talk about building your tech stack – the collection of tools that work together to support and automate your workflows.
more by jackie meyer
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embracing the right technology can elevate your one-person or small firm into a powerhouse that feels much larger. when done right, tech removes drudgery, reduces errors and creates a client experience that’s smooth and modern. on the flip side, ignoring tech or using outdated tools can hold you back, limit your growth and eat away at your time. let’s make sure that doesn’t happen!
why tech stack mastery matters
imagine two firms. advisor alice runs her practice with spreadsheets, email and a fax machine. advisor bob has a modern setup: a cloud-based client portal, automated bookkeeping workflows and an ai assistant for research. alice spends her evenings manually entering data and digging through email threads for attachments; bob, meanwhile, has much of that handled by software and spends his time talking strategy with clients. whose practice grows faster? who’s less stressed? the answer is obvious.
in today’s digital age, technology is no longer optional; it’s essential. mastering your tech stack allows you to:
- increase efficiency: automate repetitive tasks and streamline workflows so you get more done with less effort. (goodbye, double data entry!)
- enhance client experience: provide seamless, convenient ways for clients to interact with you (think e-signatures, online portals) that show you’re running a 21st-century firm.
- scale your practice: with the right systems, one person can manage many more clients (and a small team can handle hundreds) without service quality slipping. tech can be like adding extra arms and brains to your operation.
- improve collaboration: the right tools make communication and teamwork easier within your firm, especially if you have remote staff or collaborators. everyone stays on the same page.
- gain a competitive edge: a modern, tech-savvy service offering will attract clients (especially younger, entrepreneurial ones) and set you apart from old-school competitors. it signals that you’re efficient, up to date and investing in the client experience.
put simply, technology, when used wisely, gives you leverage – you can accomplish exponentially more than you could manually.
building your tech stack: key components
a well-rounded tech stack for an advisory practice typically includes several core categories of tools. let’s break down the key components and some options for each:
1. client management / crm systems
- purpose: these help you manage client information, track all interactions, and ensure no client or prospect falls through the cracks. a good crm (customer relationship management) system is like an organized digital rolodex on steroids. it can remind you when to follow up, keep notes of conversations, and sometimes even automate client communications.
- popular options: hubspot, zoho crm (general crms with wide capabilities), or accounting-specific ones like karbon, qount, canopy or taxdome that combine crm with practice management features.
- key features to look for: contact management (all client info in one place), task reminders and to-dos, email integration (save those email threads!), and reporting/analytics on your pipeline or workload. some crms also include marketing automation (like sending newsletters), which can be a bonus.
tech tip: make a list of non-negotiables you must have in a solution. for example, it has to two-way sync with gmail for client emails. it can be one thing or a list of things, then create a google sheet and test each app. you’ll quickly see which ones get disqualified based on your unique needs.
2. tax planning software
- purpose: as a tax advisor, you need specialized tools to analyze scenarios, identify savings and create plans. and no, i’m not talking about a basic tax projection, which most tax preparation softwares do fine at. tax planning software allows you to model different strategies and show clients the impact in real dollars. it’s essential for providing proactive, value-add advisory services rather than just after-the-fact tax prep.
- taxplaniq – my “baby” and your game-changer: i’m incredibly passionate about taxplaniq because it’s not just another “what-if” calculator; it’s a comprehensive ecosystem designed specifically for tax advisory practices. (full disclosure: i’m the founder – hence “my baby.”) here’s what sets it apart, other than the less-than-three-minute tax plan it autocreates (and value prices) from a pdf of a 1040:
- proposals and presentations: you can create professional, visually appealing proposals for your services that clearly articulate the value you’ll deliver. no more cobbling together word docs at midnight.
- full tax plan reports: generate detailed, client-friendly tax plan reports at the click of a button. these reports show clients the strategies you recommend, how much each saves, and totals up the projected roi of your advice. instant wow factor.
- strategy library: it comes loaded with a library of 100+ high-impact tax strategies (and it’s constantly updated). this is huge – instead of trying to remember every possible strategy or comb through research, you have a ready reference of ideas to consider for your client, from s-corp election to r&d credits to cost segregation, all at your fingertips.
- community and cpe: taxplaniq isn’t just software; it’s access to a community of like-minded advisors and weekly cpe (continuing professional education) sessions to stay sharp on the latest tax law changes and strategy nuances. imagine software that not only helps you work but helps you learn and grow.
- integration: it doesn’t live in a silo. taxplaniq makes tax advisory easy no matter what tax prep or practice management software you use, which means less duplicate data entry for you and a more cohesive workflow.
in short, taxplaniq was built to support an advisory practice from start to finish – from pitching a prospect, to delivering the plan, to staying current yourself. (if you can’t tell, i think it’s a game-changer!)
- other options: there are other tax planning tools out there. not many, but a few. the key is to use something beyond excel to systematize and add rigor to your tax planning. (of course, i firmly believe taxplaniq gives you an edge, but choose what fits your needs and budget.)
3. communication tools
- purpose: these tools facilitate seamless communication both with clients and within your team. given how critical timely communication is in our field, you’ll likely need a few different tools here (one for email, one for meetings, etc.).
- components and options:
- email and calendar: gmail (google workspace, my preference) or outlook (microsoft 365) are the dominant choices. both can integrate with scheduling apps and crms. they also offer features like email templates and scheduling emails to send later, which are handy.
- secure messaging/portal: regular email is not secure for sensitive documents. a client portal (offered by tools like liscio, canopy or clientwhys) often includes secure messaging that’s encrypted. this is great for sending ssns, tax returns, etc., in a way that stays protected and all in one place.
- video conferencing: zoom and google meet are go-tos for virtual meetings. by now, clients are very used to zoom. a nice tip: integrate your zoom with your calendar scheduling tool so clients automatically get a zoom link for meetings. add on a beautiful ai transcription and summary service like read.ai for complete clarity (and action items) from every meeting.
- team communication: if you have a team (even one other person), consider using slack or microsoft teams for your internal chatter instead of email. it keeps communication organized by topic, reduces internal emails and can be faster for quick questions. plus, you can integrate many other apps with slack/teams (like task updates, calendar reminders, etc., showing up in channels).
4. document management and e-signature
- purpose: drowning in pdfs and paper? document management tools store, organize and share files securely. they often include version control (so you don’t mix up draft v3 and v4) and sometimes e-signature capability, which is essential for engagement letters, e-file forms, etc.
- popular options: google drive or dropbox for general cloud storage (with careful permissions set for client data), or more accounting-specific solutions like sharefile. many client portals (again, liscio, canopy) double as document management systems. for e-signature, which is an absolute must, there’s docusign, adobe sign or built-in features in products like sharefile or practice management software.
- key features: bank-level security (encryption), easy sharing with clients (preferably via a secure link or portal rather than attachments), folder structures that make sense (perhaps a folder per client, with subfolders for each year or type of service), and the ability for clients to upload documents to you securely. also, the ability to request signatures on documents and have them automatically filed when signed is a huge time-saver.
5. accounting software
- purpose: this is the bread and butter for bookkeeping and accounting work. even if you personally don’t do bookkeeping, your clients likely use these, and having access allows you to pull financials for tax planning or coordinate with their bookkeeper. if you do offer bookkeeping, this software is your production tool.
- the big two: quickbooks online (qbo) and xero are the leading cloud accounting platforms for small businesses, whether you like it or not. (there’s also quickbooks desktop, but that’s legacy and doesn’t fit into a cloud-based tech stack as neatly without hosting.) qbo has the market share and a vast app ecosystem; xero has a loyal following for its clean design and automation features. newer ai systems like digits are coming out but not validated well enough yet. pick one, go all in and make it a guideline for your clients to consistently use it as well (i remember a decade ago when we were trying to install various quickbooks desktop versions; it was a nightmare).
- key features: bank feeds (linking bank accounts for automatic transaction import), invoicing, bill payment or ap management, financial reporting, and multi-user access (so you and the client can both get in there). also look at what accountant-specific tools they have (qbo accountant, for example, gives you a nice dashboard for all clients and tools to make adjusting journal entries, etc.).
6. project management and workflow tools
- purpose: these help you keep track of all the moving pieces – client work and internal projects – so nothing falls through the cracks. it’s especially important as you juggle more clients or have team members. a good project management tool will let you create task lists, assign responsibilities, set deadlines and track progress status.
- popular options: general tools like asana, trello, monday.com or clickup can all work for an accounting firm. there are also accounting-specific workflow tools like jetpack workflow or karbon (mentioned under crm) that combine client info with workflow. even a spreadsheet or checklist can work when starting out, but a dedicated tool is better as you grow.
- key features: the ability to create recurring task templates (for example, monthly bookkeeping checklist for client x repeats every month, or a tax return workflow repeats each year), assign tasks to people, set due dates and reminders, and get a high-level view of what’s done vs. what’s in progress vs. what’s overdue. bonus if it integrates with your email or calendar (so deadlines sync up or you get notifications).
7. workflow automation tools
- purpose: as mentioned earlier, these connect different software together or automate multistep processes. think of them as the glue and the engine that can streamline your tech stack into one cohesive system. you might not need to dive into these on day one, but as your tech stack matures, automation tools unlock a ton of efficiency.
- popular options: zapier is the big name – it’s user-friendly and connects thousands of apps. make.com (formerly integromat) is another automation tool that’s very powerful (with a bit more of a learning curve, but often worth it). microsoft power automate is great if you’re in the office 365 ecosystem.
- key features: look for the ability to trigger actions in one app when something happens in another (e.g., “when a new client is added in my crm, create a folder for them in google drive and a project template in asana”). these tools often have multistep workflow capability, branching (if this, then that logic), and scheduling (run this every night at 6 p.m). essentially, if you find yourself doing a manual data transfer or a routine digital task, these tools can likely automate it.
8. online scheduling and calendar management
- purpose: these tools help manage appointments, deadlines and availability. we have touched before on e-calendars for deadlines; here the focus is on scheduling client meetings and managing your time.
- popular options: calendly, hubspot scheduling or the built-in booking features of microsoft bookings (with 365) or google calendar (with some add-ons). these let clients self-schedule meetings based on rules you set. it’s a game changer in saving you back-and-forth time with someone.
- key features: syncs with your actual calendar (so it knows when you’re free or busy), allows you to set buffers (e.g., no meetings less than one hour apart, or only allow booking on tuesdays and thursdays for client calls), automatic time zone handling, and sends confirmation/reminder emails. many also integrate with zoom to autocreate meeting links. i have a vip option that allows times monday to friday, and then i have a meeting day only calendar for tuesdays and thursdays.
9. tax preparation
- purpose: if you want to be a full-service firm, and not just offer tax advisory (which many are doing succesfully now), then you need a good tax prep software. i’ve always been fond of proconnect tax online. it has its limits and is not for a high-volume firm, but it’s easy because it’s the only product that’s 100 percent online for practitioners.
- popular options: for higher volume firms, cch axcess is popular. drake customers have become quite cultlike fans. i’m just waiting for a new ai player to come in and wipe these ancient dinosaurs out.
- key features: provides easy tax projections and quarterly estimates for existing clients when their prior year data is input. have strong calculation engines to handle more complex scenarios like amt, loss limitations, carryovers, etc.
putting together your tech stack is a bit like selecting the instruments for an orchestra. individually, each tool should be excellent at its job. but the real magic is when they all play together in harmony. that’s what we’ll tackle next.
integrating and optimizing your tech stack
having a collection of great tools is wonderful, but if they don’t talk to each other, you could end up with information silos and duplicative work. the true power of a tech stack comes when your tools are integrated and workflows are optimized. here are strategies to ensure your tech stack functions as one unified system:
- choose tools that integrate: when evaluating new software, always consider integration. does your crm connect with your email and calendar? can your tax planning software export data to your reporting tool? prioritize tools that offer native integrations with the software you already use, or at least have open apis (which make it easier to connect via third-party services like zapier). this avoids having data stuck in one place.
- automate data transfer: use workflow automation (zapier/make, etc.) to eliminate manual data entry between systems. for example, when a prospect fills out a form on your website (or a typeform questionnaire), you can set up an automation to create a new contact in your crm and notify you on slack, without you typing a thing. or automatically create a task in asana when a client electronically signs an engagement letter in your e-signature tool. think about those multistep processes you do manually and try automating them.
- centralize your knowledge hub: make your knowledge base (or internal wiki) the go-to for how to use each tool. document key workflows, like “how to onboard a new client in (crm name)” or “steps to close out a project in (pm tool).” this way, whenever you add a new tech tool, you update the knowledge base with how and when to use it. it keeps everyone aligned on the tech processes.
- train your team (and yourself): tools are only as good as their user adoption. invest time in training. when you introduce a new app, hold a training session or have everyone take the vendor’s tutorials. ensure each team member is comfortable and actually using the tools as intended. also, designate a point person (even if it’s you) for each critical system to be the in-house expert who can troubleshoot or answer questions.
- regularly review and refine: the tech world evolves quickly. schedule a periodic review (say every six or 12 months) of your tech stack. are all tools still serving their purpose? are there new features you should adopt, or any overlapping tools you can consolidate? also, get feedback from your team: maybe they found a certain integration that could save time, or perhaps a tool isn’t being fully utilized. continuous improvement applies to tech too.
remember, the goal is ease. what makes our society great is its capitalism. if we had just a few softwares that dominated all of these tech markets and areas, none would be great. instead we have some silos but great products. it won’t ever be 100 percent seamless, but you want the best products at the end of the day, not just an all-in-one. when your tech stack is dialed in, a client can sign an agreement in one system, you get a task created automatically in another, their info is already populated everywhere it needs to be, and your team is notified without a flurry of emails. that’s when you know the stack is working for you, not the other way around.
action items:
to effectively build and optimize your tech stack (including leveraging ai), here are practical steps to take:
- assess your current tech stack: make a list of all the software and tools you are currently using in your practice. identify what each is used for and how well it’s serving you. also note subscriptions you’re paying for that you might not be fully utilizing.
- identify gaps and needs: based on pain points in your processes, determine where a new tool or an upgrade could help. are you missing a good crm? do you need a better way to track tasks? is document exchange with clients a hassle? make a “wish list” aligned to your most pressing operational challenges.
- research solutions: explore the recommendations in this post and ask peers what they use. sign up for free trials or demos. keep an open mind – there might be a tool you didn’t know existed that perfectly fits your need.
- select tools that fit your practice and budget: from your options, pick the ones that best align with your workflows and budget. it’s easy to get excited and oversubscribe, so be strategic. maybe prioritize one new major system at a time (e.g., implement a crm this quarter, a communication portal next quarter). ensure whatever you choose can integrate with your existing key tools (recall the importance of integration).
- implement and integrate: once you’ve chosen a tool, dedicate time to properly set it up. migrate relevant data (e.g., import contacts into the crm, set up templates in the client portal). connect it to other tools – for example, link your scheduling app with your calendar and zoom, integrate your crm with your email, etc. the onboarding phase is crucial; don’t rush it.
- train yourself and your team: as mentioned, take training seriously. do the tutorials, watch the webinars, read the docs. if you have staff, involve them and ensure everyone knows how to use the new system. for complex systems, consider assigning a team “champion” who becomes the go-to expert.
- calculate your baseline hourly value: (if you haven’t already done the earlier exercise.) note your current net income and estimate your hours worked. write down that true hourly value number. this is your starting point before reaping the efficiency of the new tech.
- schedule a quarterly tech stack review: set a recurring reminder (perhaps quarterly or semiannually) to review your tech stack’s performance. are all integrations working? is every tool being used fully? gather any feedback or frustrations you or the team have encountered and brainstorm solutions or improvements (maybe it’s an update, or maybe a different approach needed, or in rare cases a different tool).
- stay updated on tech trends: make it a habit to keep an ear out for new developments. subscribe to an accounting tech newsletter or follow a few influencers in the space. this doesn’t mean chase every shiny object, but you don’t want to miss out when something truly game-changing emerges.
- join tech communities: connect with other tech-forward professionals. online forums, linkedin groups or the aforementioned facebook community can be gold mines for tips. you might discover creative uses of a tool you never thought of, or get quick advice when you hit a snag. sharing experiences accelerates everyone’s learning.
- embrace continuous improvement: finally, view your tech stack as a living, evolving aspect of your business. it’s not “set and forget.” encourage a culture where you and your team suggest improvements and optimizations. perhaps make it a standing agenda item in team meetings: “any ideas to improve our processes or tech?”
by tackling these action items, you’ll build a robust, efficient and future-proof tech stack that leverages the power of automation and ai. this will not only free you from a lot of busywork, but it will also enhance the service you deliver to clients (who will definitely notice the added efficiency and modern touch).
in a year’s time, you could very well find that you’re managing more clients, delivering more value and yet working fewer hours – all thanks to the systems and tech foundation you laid down. that positions you perfectly to continue scaling up … perhaps even toward that seven-figure+ firm goal, while still working a sane schedule.
by implementing the right technology and continuously refining your approach, you’re setting the stage to scale your firm smartly. you’ve gone from being in the business (caught in the weeds) to working on the business, with tech as your trusty sidekick. this not only increases your profitability but also reduces stress and opens up time – time you can spend on strategy, on leadership, or outside of work altogether. and that is exactly what a balanced millionaire strives for: high impact, high income and the freedom to enjoy it.