Accounting Firm Technology Checklist

November 19, 2020  |  Practice Management, Technology

Digital Transformation: A Journey in Progress

Accounting firms have historically been slow technology adopters, and many small and midsize firms still depend on manual processes even as their business clients embrace the digital age.

The pandemic has been a digital accelerator of sorts for accounting firms, mandating out of necessity a disruptive shift from the traditional workplace to a virtual model. Firms have now become comfortable with working from home, holding client meetings on Zoom and moving key software from internal servers to a cloud option.

Digital as an engine for growth

Analysis in the Deloitte study “Connected Small Businesses in the United States” found that, relative to businesses that have low levels of digital engagement, digitally advanced small businesses earned more revenue per employee and experienced much greater revenue growth.

A 2019 study by Robert Half reports that 66% of CPA firms are currently using cloud-based systems in support of their business.

The shift may well be permanent. It’s now becoming evident that post-pandemic, the focus will be on delivering more value to customers at a lower cost, redefining work processes and creating new technology-driven services. To move toward that future, firms should first assess current workflows, understand client needs and assure that the important foundations for remote work are in place.

Where is your firm on the digital journey?

Are you operating efficiently in remote mode or still working out the kinks? We have identified three broad areas of competence in digital operations. Work through the Accounting Firm Technology Checklist to assess your firm’s progress on the path to tech-friendliness in these areas:

Support remote work: Can staff members work from their homes or other remote locations? Does the entire team have access to effective practice management tools? Effective technology for remote work is job one for future-proofing your firm.

Secure the data: Protecting client files and sensitive financial data is critical for maintaining client trust. Understanding and complying with data privacy regulations are an important exercise in risk reduction.

Cater to client convenience: A seamless, high-touch client experience increases satisfaction, trust and referrals. Can your clients easily and securely deliver digital documents to the firm? Can they obtain information 24/7? Can they pay online?

Complete the Accounting Firm Technology Checklist with firm partners and key contributors – some interesting discussions are bound to take place, and new ideas for the future of your firm may emerge.

Bring questions about cloud strategy, security, integrations, practice management and automated payments to our expert team – we have helped thousands of firms derive business advantage through remote digital operations.

Where is your firm on the Digital Journey? Read our Checklist to find out.

New to practice management software? Watch a video overview of OfficeTools.

Talk to an OfficeTools expert. Call: 800-726-3339

Share this article