tax & accounting firms beef up wages and headcounts
growth seen across the board.
by beth bellor
surveys & research
survey: only 19% of firms host email
the percentage keeps shrinking.
the accounting firm operations and technology survey
52% of firms look outside for it support
“i’ll just handle it myself” is the answer for 28 percent.
the accounting firm operations and technology survey
more than half of accounting firms look outside their walls to solve information technology issues, but that doesn’t mean they all do it the same way.
more: pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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an external consultant is an answer 30.9 percent of the time, for projects or as needed, with a managed service provider taking on the rest. of respondents who handle things on their own, 80 percent are solo practitioners, while full-time it staff or an it department are 60 percent likely at extra-large firms. read more →
firms battle disruptions in communications and workflows
next up? scheduling and paper.
the accounting firm operations and technology survey
covid-19 and its variants forced a number of challenges upon the accounting profession. accountants are telling us that tops on that list were communication and workflow, at 49.4 and 49.1 percent respectively. even solos felt the burn, at 40.6%, so it wasn’t all internal communication to blame, although large firms of 51-100 felt it most sharply, at 60%.
survey results
more: pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
some responses that didn’t hit the top six still were notable. postal mail was called out by 21.9 percent, including 40 percent of solos and 33.3 percent of large firms. solos also reported phone calls and lost income at 24.6 percent. despite most groups saying lost income was a challenge, relatively few put that figure anywhere near the one for paying bills, except extra-large firms noting 11.8 percent difficulty with lost income and 5.9 percent with paying bills.
details by firm size read more →
the big money in cas for small firms
you should see more investment and more referrals.
by hitendra patil
client accounting services: the definitive success guide
the cloud makes it possible – no, it makes it inevitable – for smart business owners to focus on their core business and let professional accountants take care of accounting, including transactional work (to be done accurately).
more: what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
this new possibility gives rise to cas opportunities for accountants to work in collaboration with business owners in real-time.
cas is one of the fastest-growing new revenue segments of many top 100 firms, but perhaps the even bigger cas opportunity is more relevant and more available to smaller accounting firms.