tech and fintech

thinking technology? then think beyond average

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‘average is where the best of the worst meets the worst of the best.’

by jim boomer
the accounting firm operations and technology survey

boomer
boomer

the accounting firm operations and technology survey provides some great insights on where firms stack up in both practice management and technology. i encourage you to view this as the starting point, though. strive to be better in all areas regardless of whether you are below, at or above average. after all, average is where the best of the worst meets the worst of the best.

break away from the herd

whether it is technology, processes or new service lines, we, as a profession, have the tendency to follow the herd. large firms look at peers and do what they do. small firms tend to look at other small firms.i challenge you to look beyond the firms of similar size for additional ideas on how to support your firm’s continued improvement and growth. we’ve found that small firms can learn a great deal from those that are larger and vice versa. read more →

communication: more powerful than any software

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‘you can’t get ahead having a heart-to-heart with a spreadsheet.’

by richard j. koreto
the accounting firm operations and technology survey

koreto
koreto

i once interviewed a cpa who was a partner in a small accounting firm with his father. the father was a “detail guy” who knew every detail of the irc and made sure their clients paid no more than the legal minimum. the son was more “front office.”

he personally delivered every return to their high-net-worth clients in their homes and went over each form and schedule: “what are you unclear about? based on changes in your family situation, there will be some tax implications. let’s discuss what we can do about them…” he realized that handling the numbers was not enough – he had to explain what they meant. and he had to listen.

this type of skill is more important now than ever, and a way for accountants to clearly differentiate themselves from increasingly sophisticated and inexpensive software.

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who decides what to keep?

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finger pressing delete keyhaving a document retention policy promotes accountability.

by roman h. kepczyk
quantum of paperless

managing digital files is in many ways similar to managing paper files in that the firm must have standards for who can create a document, add to or edit a document, file it, and eventually purge the file.

//www.g005e.com/shop/qop/
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more on tech spending: 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 | scanners allow data capture at the source | in pc monitors, more is better

unfortunately as digital files are on the network and “out of sight,” many firms are not really aware of what files are stored, the most current versions and whether or not they should be deleted.
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firms need document management standards

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pile of documents on desk stack up high waiting to be managed.even if you start small, get started.

by roman h. kepczyk
quantum of paperless

the network drive in most firms is not very well organized and needs the most cleanup. this happens because it is usually managed with windows explorer, which allows almost anyone to create or access a file anywhere on the drive.

//www.g005e.com/shop/qop/
learn more

more on tech spending: how smart accounting firms use intranets to get smarter | unified messaging boosts security | 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 | scanners allow data capture at the source

unfortunately, there is seldom a firm standard that is adhered to, allowing users to create files with any naming convention they want and store it anywhere they please. the result can be files that are hard to find and slow to search across the network. read more →