…principal authors of the annual accounting firm operations and technology survey report. available as softcover and ebook, published by 卡塔尔世界杯常规比赛时间, available at www.g005e.com/shop/afot. the report provides easy to understand…
turn “necessary evil” into “welcome angel.”
by hitendra patil
“new clients do not come to me because i have an accounting software and/or a tax software. they hire me because i am a cpa.” a small firm owner from los angeles recently expressed this, on the condition of anonymity.
does that summarize how accountants view technology spending? the new accounting firm operations and technology survey gives us a surprising insight into how primary technology purchasing decision-makers view technology spending.
more on entrepreneurial strategy: do you want a practice … or a business? | tax season management: multi-tasking is a myth | re-learning the lingo of the accounting business | top 10 entrepreneurial traits of successful accountants | six steps for a better tax season | 8 seconds into the future: meet generation z | get more done, make more money: stop doing these 17 things
key findings from this survey indicate:
read more →
subscriptions and the cloud may not work for everyone. but proper licensing does.
by randolph p. johnston, leslie garrett, and brian f. tankersley
the accounting firm operations and technology survey
software is the reason that firms make investments in computer hardware, yet many firms seem to avoid upgrades until they are forced to make a change. for example, when asked to identify their preferred word processing application,
related: soloists, small firms need tech update plans | soloists, small firms cite tech challenges | an it department of 1? soloists, small firms relate
while we do not think that practitioners should jump the newest version of a product immediately, we also do not think they should be more than two releases behind the current version of their applications for an extended period of time.
that means hardware, os and licensing (hello, audit!). bonus checklist: business vs. home computer models.
by randolph p. johnston, leslie garrett, and brian f. tankersley
the accounting firm operations and technology survey
computer hardware and operating systems provide the foundation from which firms and their staff members manage their work tasks every day. while some practitioners focus more on the brand of the system rather than the quality of the components it contains, we believe that all of the major hardware manufacturers make some excellent, business-grade hardware, and they all also make some low-cost, low-quality items targeted at home users that are not appropriate for use in a business environment.
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.
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.
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.
how many are you making?
by hitendra patil
proactive marketing is as rare as a marketing plan or a marketing budget at many firms. getting new clients is one of the top 5 challenges for firms of all sizes. accountants seem to be not doing enough of the right things.
more on the entrepreneurial accountant: 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
1. not doing enough to get found by prospects
it is estimated there are about 660,000 cpas in the u.s., 80% of which are believed to be in the corporate world. that leaves 132,000 cpas in practice. and there about 53,000 linkedin profiles that include the word “cpa” in the profile headline. in other words, 1 out of 2 cpas is either not on linkedin or don’t use the profile headline to reflect that they are cpas.
bonus lists: pros and cons of opening an office. top sources of new clients. and how time is spent.
by randolph p. johnston, leslie garrett and brian f. tankersley
the accounting firm operations and technology survey
one of the more significant challenges for a small firm is the determining the proper level of overhead spending to support the firm’s client base as they try to work with clients. despite significant savings in some areas associated with working from home, this lack of infrastructure limits the firm’s ability to
too many tech ‘solutions’ don’t solve the real ‘problems.’
by gail perry
the accounting firm operations and technology survey
as a person who still prefers books to e-books, who chooses a landline over her cell phone, who cherishes her collection of vinyl albums and who enjoys writing letters in longhand (btw: i’m writing my first draft of this article in longhand), and (full confession), as a cpa who maintains a small tax practice of her own and who manages her books in excel (in spite of the fact that i know many accounting software programs inside out and have written myriad books about financial software), i can completely relate to the results of the accounting firm operations and technology survey without a trace of the surprise and disappointment expressed by my journalistic colleagues who shared their points of view.
accountants aren’t clueless about technology and they’re not stupid when it comes to making decisions about how to operate their business. what they are is busy.
https://www.youtube.com/watch?v=t2bsofhj-sm&sns=em
tax software vendors need to step up for cloud solutions.
by bob scott
the accounting firm operations and technology survey
in much of the business world, a substantial part of the market has passed the tipping point in terms of cloud-based software. even if they don’t own business applications that work via the internet, they are considering them. that is not the case with accounting firms.
it is pretty much the same story as last year. a majority of respondents do not use workflow applications, tablets of any size or have a replacement cycle for technology.
‘average is where the best of the worst meets the worst of the best.’
by jim boomer
the accounting firm operations and technology survey
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 →
…publication announce the release of the solo practitioner and small firm edition of the 2nd annual accounting firm operations and technology survey ebook. the ebook features survey results and insights…
‘you can’t get ahead having a heart-to-heart with a spreadsheet.’
by richard j. koreto
the accounting firm operations and technology survey
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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