trend watch: the adoption of cloud services is selective. q: does your firm use any service that could be defined as “cloud” computing – i.e. hosted software/server or hosted communications? (select all that apply.) other answers: • appriver … continued
the mindset that led to it? competition from a couple of guys in a garage.
by rick richardson
deloitte just announced the availability of audit technology for smaller accounting firms through a new venture it recently formed.
more tech this week: the uncertain future of tax prep [video] | why voice is so important | the puck that tracks your time | securing the data center on wheels | the three weakest links in your wifi security | new mit drone flies 5 days on 1 tank | will heif kill jpeg?
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deloitte created auvenir as an in-house startup and tasked it with developing its own auditing technology that could be offered to small firms. deloitte is starting with a north american launch of the technology, known as the auvenir audit smarter platform, which leverages artificial intelligence to help auditors with their work.
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trend watch: outsourcing an exchange server is more common. q: does your firm utilize an exchange server internally or is your email hosted outside of the office? more accounting firm operations and technology survey: mergers on … continued
digital workflow use rising, but remote access remains a struggle.
by roman kepczyk
rosenberg map survey
as an outsourced technology partner to cpa firms, i primarily deal with it strategy and applications that improve accounting firm production.
more from the map survey: will staffing challenges change the definition of partner? | be a consultant or be left behind | survey: many firms in transition | technology playing center stage in cpa profession
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the 2016 cpa firm management association it survey* pointed out that a surprising 23 percent of responding firms had transitioned to an outsourced cloud architecture. this trend points to internal it personnel being disintermediated as they have been unable to keep up with today’s required skill set for improving firm processes as well as technical skill needed to optimizing remote access, security and disaster recovery for the firm, which firms seem to struggle with constantly.
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***
by randolph p. johnston and leslie garrett
accounting firm operations and technology survey
that advice you give clients? it’s time to follow it yourself.
by roman h. kepczyk
quantum of paperless
we have all heard the saying that if you don’t know where you are going, you’ll end up going nowhere (or … you won’t ever get there).
more on tech spending: firms need monthly it ‘flash’ reports | outsource some security functions | centralize contact administration | why you should process ap digitally | revamp daily t&e entry | how and why to establish firm procedures manuals | is your tax workflow digital yet? | the 4 types of firm knowledge | back up your bandwidth | how to choose which microsoft office version to use | time to replace a server? consider the cloud | monitor real estate: more is better
unfortunately, many accounting firms do not do a good job of integrating their information technology requirements into the firm’s overall strategic vision.
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“flash” reports to monitor infrastructure and projects.
by roman h. kepczyk
quantum of paperless
most firms have a line partner or firm administrator overseeing the firm’s information technology department.
more on tech spending: outsource some security functions | use collaboration technology to improve your firm | standardize your quickbooks support | remote banking offers instant roi | how to stop ‘overauditing’
they may have an interest in information technology, but their primary responsibility often lies in other production areas. they need a way to efficiently oversee the firm’s tech initiatives and report to management.
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annual staff training is a must-have.
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.
more on tech spending: use collaboration technology to improve your firm | mandate training programs, accountability | portals are vital for secure file transfer | deliver all reports digitally | how audit field equipment has changed | how and why to establish firm procedures manuals | devil’s in the details of digital file delivery |
the firm has a fiduciary responsibility to protect this data from anyone not specifically authorized to view it.
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processes make it easier to achieve results.
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: centralize contact administration | standardize your quickbooks support | remote banking offers instant roi | how to stop ‘overauditing’ | devil’s in the details of digital file delivery
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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new information needs to 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 tech spending: standardize your quickbooks support | portals are vital for secure file transfer | deliver all reports digitally
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.
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how many versions do you support … and why?
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: portals are vital for secure file transfer | why you should process ap digitally | revamp daily t&e entry | is your tax workflow digital yet? | the 4 types of firm knowledge
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. firms have found that it is significantly more productive to support no more than the three most recent versions and to either require the client to update their software or include the cost within the monthly service fee.
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look for notifications and audit trails.
by roman h. kepczyk
quantum of paperless
when dealing with digital files, the most effective way to transfer them is electronically over the internet either with secured email or through a portal.
more on tech spending: why you should process ap digitally | remote banking offers instant roi | how to stop ‘overauditing’ | devil’s in the details of digital file delivery | preventing document retention headaches | which wireless? | remote access takes planning | transitioning to windows 10
many firms have emailed clients copies of tax returns and financial statements over the years. unfortunately, this is not always the most secure method as the firm does not have control of the various internet service providers and the relay servers between the firm’s email server and the client’s email account.
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don’t forget to use naming conventions.
by roman h. kepczyk
quantum of paperless
processing accounts payable is another of the manually intensive processes within the firm’s administrative department that can be significantly streamlined through digital processes.
more on tech spending: remote banking offers instant roi | deliver all reports digitally | how audit field equipment has changed | optimize scanning applications and procedures | document management requires firm standards | why unified messaging matters | get in front of application updates | why you need offsite backup | use scanners to capture source documents
consider how many “touches” a single payable creates: receipt of the invoice, timing of payment in a folder, writing the check and attaching the stub, sending it to an owner for signature, filing a copy of check with backup in its own folder, and stuffing, sealing and sending the check to the vendor. now imagine doing this a hundred times per month, every month. imagine the volume of physical accounts payable vendor files both onsite and in storage, that can be eliminated by storing these images digitally.
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