tech and fintech

develop monthly it ‘flash’ reports

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illustration of bandwidth usedisk usage, support calls and more must be tracked.

by roman h. kepczyk
quantum of paperless

most firms have a line partner or firm administrator overseeing the firm’s information technology department. these people may have an interest in information technology, but their primary responsibility lies in other production areas. they need a way to efficiently oversee the firm’s it initiatives.

more on tech spending: digital report delivery includes owners | streamlining audits by breaking old habits | why accounts payable should go digital | field auditors need right equipment, connections | get ahead of your software updates

that tool is a monthly it flash report, which is a one-page summary that monitors progress on the firm’s core it performance indicators. this form, usually done on a spreadsheet, should
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have an independent security review

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illustration of computer security threatsnot just once, either.

by roman h. kepczyk
quantum of paperless

going “paperless” means that all firm files and client data will be digitally stored on the firm’s network, which is almost always accessible to firm personnel via internal workstations and remotely via the internet. the firm has a fiduciary responsibility to protect this data from anyone not specifically authorized to view it.

more on tech spending: portals, encryption boost client security | remote deposit is a no-brainer | who decides what to keep? | unified messaging boosts security | ready for a revolution? your phone is | remote access boosts productivity, requires planning | get ahead of your software updates

proper security is very difficult for any internal network administrator to guarantee as few have the experience and ongoing training to implement security settings optimally the first time. therefore, all “one-shot” implementations of firewalls, wifi routers, virtual private networks and other security settings should be outsourced to an organization that has experienced personnel dedicated to security. in many cases, these providers can also
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top tech advice: mandate training and accountability

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office workers training on computersdon’t know what training is needed? ask your personnel.

by roman h. kepczyk
quantum of paperless

for many firms, the ability to identify, standardize and implement best practices is the last remaining competitive advantage in business today as communications tools and access to technology have become available to everyone.

more on tech spending: standardize quickbooks support | digital report delivery includes owners | 3 steps for firm procedures manuals | how smart accounting firms use intranets to get smarter | remote access boosts productivity, requires planning | get ahead of your software updates | cloud computing can cost less | laptop-only workers more common

to take advantage of the continuous stream of innovation and opportunities, firms must adopt a “learning culture.” this requires a formal process to capture and standardize best practices in every department within the firm so that every person can take advantage of them.

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why more firms are using their t&b apps for crm

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woman entering information on computernew information must be shared.

by roman h. kepczyk
quantum of paperless

many firms today maintain contact information within multiple applications such as practice management, outlook, tax systems, and other marketing and crm (customer relationship management) programs.

more on smarter tech spending: standardize quickbooks support | digital report delivery includes owners | portals, encryption boost client security | daily billing cuts month-end load, creates audit trail | streamlining audits by breaking old habits | why accounts payable should go digital | remote deposit is a no-brainer | field auditors need right equipment, connections | 3 steps for firm procedures manuals | stop paper at the source: the client | how and why to set optimal scanning practices

too often, a significant amount of time is wasted in firms pulling contact information together, reconciling and verifying lists for mailings, invitations and even organizers. it is critical that firms centralize the updating of contact information for consistency.

for example, tax personnel, who are often the first to be made aware of a change, may make the change within their tax program and not pass the change to others. all changes, from every source, need to be sent to administration where one person can update all databases for consistency.
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standardize quickbooks support

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"update" key on computer keyboardminimize the number of software versions you support.

by roman h. kepczyk
quantum of paperless

in the united states, quickbooks is the most dominant small business accounting product on the market and will be the application that the majority of the firm’s clients use. therefore, it is obvious that the firm must become proficient with supporting quickbooks.

more on tech spending: digital report delivery includes owners | portals, encryption boost client security | how smart accounting firms use intranets to get smarter | ready for a revolution? your phone is | remote access boosts productivity, requires planning | get ahead of your software updates | blame accounting vendors: accountants stuck with outdated versions of microsoft office | cloud computing can cost less

unfortunately, one of the biggest wastes of time is when firms support too many older versions of the software, which often leads to incompatibilities that can corrupt the database and make it unusable for clients. fixing these errors creates lost time that is seldom charged to clients and instead impacts the profitability on these jobs.
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