cpas in top 100 accounting firms get an “a” for adoption of cloud, portable document scanners and workflow management technologies

study by bay street group finds significant opportunities for performance improvement in client service and staff productivity

via businesswire

sunnyvale, calif. & laguna hills, calif. & braintree, mass. — cpas in the nation’s largest firms agree that adopting software-as-a-service (saas), portable document scanners and workflow management technologies provides a competitive edge over low-performing firms. however, the top firms also agree they need to adapt to these solutions at a faster rate to provide even greater client service and maintain a more productive staff.

“highly focused on client needs and expectations.”

these and other findings on profit margins, competition between firms and getting up-to-date with technology are the result of a new study conducted by bay street group, and sponsored by the cloudsolutions alliance. managing partners, partners, senior executives and senior staff from top 100 accounting firms participated in the survey, which shows that the best-managed, most successful firms are aggressively adopting cloud, saas and document management solutions. the survey results show that firms are adopting these technologies in order to become more competitive, provider better client service, and improve client retention.

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do you have the “it” factor for leadership?

and nine more principles for leadership communication

great management begins with effective communication and setting the right tone at the top. but more than that, true professionals need a signature point of view. robert p. gandossy, north america practice leader for hewitt’s leadership consulting practice, calls it the “it” factor.

robert gandossy

“it’s much easier to have consistent communication when you have a clear brand or market-facing value proposition and core values — whatever you want to call it,” gandossy says.

“but whatever you call ‘it’, you better have it. just be sure ‘it’ is clear, easy to remember, makes sense for the business, has an element of inspiration, differentiates you, will hold up for at least ten years, and is everyone’s job to live ‘it’ — and that means you.”

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congress and the next market meltdown

today’s federal budget proposals make another financial disaster inevitable — and utterly predictable. no wonder investors are fleeing u.s. markets.

lynn turner
lynn turner

in “why isn’t wall street in jail?,” matt taibbi writes in rolling stone: the systematic lack of regulation has left even the country’s top regulators frustrated. lynn turner, a former chief accountant for the sec, laughs darkly at the idea that the criminal justice system is broken when it comes to wall street. “i think you’ve got a wrong assumption — that we even have a law-enforcement agency when it comes to wall street,” he says.

here, turner lays out the case. when the next meltdown happens, you’ll know whom to blame.

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where are the new clients?

and, is that the right question?

the top challenge for firms is getting new clients, according to a new survey of sage accountants network members.

next most frequently mentioned were tax law complexity and changes, followed by time management, keeping up with technology, and the effect of new regulations and standards.

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david pollak to head sales at cpa2biz

creative solutions veteran takes charge of topline growth.

“david has a long successful career selling technology solutions to cpa firms,” said erik asgeirsson, ceo of cpa2biz.

always an astute analyst of the business, the last time we caught up with dave he told us that with marginal clients falling by the wayside, it may be time for accountants to rethink how they do business. at the time, he was leading sales for accountantsworld. “the people who are proactive and seizing new opportunities are flourishing,” he says in this interview at annual the illinois cpa society trade show.

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four more years: clients delay retirement

“boomers have been scarred.”

half of baby boomer clients who have postponed retirement due to the economic downturn expect to work at least four years longer than they originally planned, according to cpa financial planners.

fifty-two percent of cpa financial planners said their clients – who typically have between $500,000 and $5 million in assets – are at least somewhat confident in the stock market now — a turnaround from a year ago when 54 percent said their clients were not very confident.

more highlights:

  • 48 percent of cpa financial planners said their typical client is somewhat or very pessimistic about the u.s. economy amid gaping budget deficits and high unemployment.
  • 51 percent of cpa financial planners said at least one client was turned down for a mortgage or refinance in the past year. the most common reasons: lower home values and higher underwriting standards.
  • 44 percent of cpa financial planners said their average client emerged from the recession with increased net worth and 17 percent saw their net worth stay the same.

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are refund anticipation loans dead?

“last nail in the coffin.”

via consumeraffairs.com

the federal deposit insurance corporation has notified republic bank & trust of kentucky that the bank’s high cost refund anticipation loans are “unsafe and unsound,” effectively cutting off jackson hewitt and liberty tax, the second and third largest tax preparation chains in the country.

the fdic’s action follows a similar action by the office of comptroller of currency, which issued a regulatory directive on christmas eve against hsbc (h&r block’s ral partner bank) prohibiting that bank from making rals.

“this may be the last nail in the coffin for rals,” said adam rust, research director for community reinvestment association of north carolina. “if so, we will be glad to see the death of these high cost, high risk loans.”

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is your cell phone a security disaster waiting to happen?

in annual aicpa survey, cpas advise companies to manage risk of mobile devices.

via aicpa

smartphones, tablets, laptops and flash drives in the workplace emerged for the first time as the top business technology concern for cpas and financial executives in the aicpa’s annual top technology initiatives survey.

the 22nd annual aicpa top technology initiative survey shows control and use of mobile devices was the no. 1 challenge for it professionals. the finding was based on responses from nearly 1,400 cpas nationwide specializing in information technology. in addition to mobile devices, the survey signaled future it issues will revolve around implementation of touch-screen technology, deployment of faster networks and voice recognition technology.

top tech 2011 ranking:

  1. control and use of mobile devices
  2. information security
  3. data retention policies and structure
  4. remote access
  5. staff and management training
  6. process documentation and improvements
  7. saving and making money with technology
  8. technology cost controls
  9. budget processes
  10. project management & deployment of new technology

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attitudes are contagious

are yours dazzling or deadly? by arnold sanow www.arnoldsanow.com your attitude reflects your thoughts and feelings and is revealed in your voice, your words, and your facial expressions. your attitude has a direct impact on the quality of your relationships … continued

cpa tech advisor’s top 25 thought leaders

symposium honors achievement via cpa technology advisor the public accounting industry’s most diverse and influential individuals will come together on february 20-22 at the gaylord texan resort to participate in the cpa technology advisor’s top 25 thought leader symposium. this … continued