rick richardson’s rules for smart cpa tech spending.
in the aicpa insider, alexandra defelice talks to cpa tech guru richardson (cpa, citp, ex-ernst) about what cpas need to know today about managing their current investments and preparing for the next wave. she provides top ten list of tech to-do’s for accountants.
six things accountants can do today:
- milk what you have much longer than you think you should.
- never buy anything until the third version is introduced, allowing time for many of the kinks to be ironed out.
- cpa firms should invest 5 to 10 percent of gross revenues on technology (including hardware, software and training).
- select one employee (not necessarily the it director) to serve as a “technology ombudsman” to manage budgeting and spending.
- assign the “ombudsman” to stay current on tech trends and brief others in the organization when new developments may affect the practice or clients.
- allocate five percent of their chargeable hours to the assignment
and four trends to watch: