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soloists, small firms cite tech challenges

october 4, 2015

by accounting firm operations and technology survey

cost, keeping up with new software among reasons some balk at investing in better tools.

by randolph p. johnston, leslie garrett, and brian f. tankersley
the accounting firm operations and technology survey

the planning and execution of the firm’s technology strategy is one of the areas where solo practitioners and small firms struggle the most. thirty-two percent of solos and 24 percent of small firms were very concerned about “understanding the technology options and selecting the right ones for the practice.” additionally, 26 percent of solo practitioners and 16 percent of small firms reported “staying informed about current technology” was a major concern of theirs.

more: an it department of 1? soloists, small firms relate

unfortunately, most firms are not using basic management tools like preparing a budget so that resources can be conserved to replace the hardware and applications when necessary. while practitioners like to complain about the cost of their technology tools, compared to not having the tools, the return on investment in technology is significantly better than that of hiring additional employees.

3 steps for firm procedures manuals

september 29, 2015

by roman h. kepczyk

we document everything else, why not processes?

by roman h. kepczyk
quantum of paperless

every firm has accountants that are 10 percent, 20 percent or even 50 percent more productive in their departments than other personnel because they have simply “figured it out.” unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them.

more on tech spending:stop paper at the source: the client | how and why to set optimal scanning practices | digital workflow systems make tax season easier | who decides what to keep? | firms need document management standards | how smart accounting firms use intranets to get smarter | unified messaging boosts security | ready for a revolution? your phone is | when is the last time you renegotiated your internet rates? | remote access boosts productivity, requires planning | get ahead of your software updates | blame accounting vendors: accountants stuck with outdated versions of microsoft office | ready or not, here comes windows 10 | back up and check your backup | cloud computing can cost less | laptop-only workers more common | in pc monitors, more is better

it is the responsibility of firms to capture these individuals’ best practices so that their knowledge can be shared and accessed by all firm members both now and in the future. this can be accomplished by making a concerted effort to develop a best practices manual within each department.

an it department of 1? soloists, small firms relate

september 27, 2015

by accounting firm operations and technology survey

tending the details: considerations for email, backup, viruses, websites, retention and remote access.

by randolph p. johnston, leslie garrett and brian f. tankersley
the accounting firm operations and technology survey

small firms require owners to do more back office and supporting work themselves due to the limited number of staff at their disposal.

seventy-one percent of solo practitioners and 30 percent of small firm respondents reported that they personally handle the it support in their firm. smaller firms were much less likely to have others who can assist in the firm, with only 1 percent of solo practitioners and 9 percent of small firms delegating this work to staff or in-house it professionals.

3 apps to automate business networking

september 25, 2015

by hitendra patil

new technologies harvest social media data, suggest how to write the perfect follow-up email, and schedule appointments.

by hitendra patil

have you found yourself attending a networking meeting and spending most of the time with just one or two persons you already know? you are not alone! it’s challenging to get the communication started and going. it is an even more daunting task to make killer impressions and walk out with connections that will help you and your business.

more on the entrepreneurial accountant: the 5 most common marketing blunders accountants make | linkedin adds messaging. finally! | re-learning the lingo of the accounting business | how the “1099 economy” will transform accounting | what cpa firms could learn from google’s alphabet | summer reading list: five great books for the five lives of a busy accountant | four signs the uberization of accounting has already begun | management guru chester elton on success | savvy cpas focus on the constants | more

but that’s where new technology comes into the picture. you don’t have to the best-dressed person in the room, nor the smoothest talking or most knowledgeable. you just need to have the best appetite! let me explain, rather, reveal, some powerful information that can totally transform how you network. from thousands of apps and websites that i have personally tested, here are three that could make you a networking hero.

stop paper at the source: the client

september 22, 2015

by roman h. kepczyk

use inbound digital transfer tools to smooth the office workflow.

by roman h. kepczyk
quantum of paperless

one of the most critical steps in transitioning a firm to a “paperless” environment is capturing information in a digital format at its “root” source as that information enters the firm.

more on tech spending: how and why to set optimal scanning practices | digital workflow systems make tax season easier | who decides what to keep? | 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 | ready or not, here comes windows 10 | back up and check your backup | cloud computing can cost less | laptop-only workers more common

at the base level, this means having clients provide you information in a digital format, which can be done via email, digital fax or through a portal rather than with a physical document. while email is currently the most prevalent tool utilized by clients, it is anticipated the security concerns will help clients transition toward portals.