outlook & analysis

byron patrick: thinking smart about new tech

by

the intersection of technology and intentionality.

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the disruptors
with liz farr
for 卡塔尔世界杯常规比赛时间

an explosion of new tech tools is giving accounting firm owners the opportunity to improve efficiency, attract and retain talent, and serve their clients better, tech guru byron tells liz farr in this exclusive interview.

more disruptors: 2022年世界杯抽签  |  blake oliver: why tax work yearns to be free |private equity explodes in u.k. | brannon poe: the status quo must go  |  accounting nerds, unlock your super powers  | private equity vs. the cpa firm partnershipthe fintech flood: accounting will never be the same  |  think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt  |  can geraldine carter save accountants from themselves? |  re-inventing accounting with tyler anderson |  turning client service into new revenue

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not only do these tools help ease the pressure of capacity problems, but they may also provide firms with a new revenue stream when they extend that expertise into their clients’ businesses.

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firms battle staff shortages with pay hikes

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except at payroll agencies, where wage gains are dipping.

cpa firm wages: up 9.8% from a year ago.

by beth bellor

let’s talk about earnings, because the latest national data shows some good news on that front. hourly earnings in the accounting profession have nudged above $39 for the first time, to $39.09, up 81 cents or 2.1% for the month and $2.48 or 6.8% for the year.

more: tax & accounting firms beef up wages and headcounts | cpa hiring rises as number of new grads continues to decline | staffing crisis: 40% are looking for new jobs

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another new high came at cpa firms, where they topped $41 for the first time at $41.61, up $1.23 or 3% for the month and $3.70 or 9.8% for the year. staff at cpa firms followed the trend with $31.84, up 53 cents or 1.7% for the month and $2.02 or 6.8% for the year.

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firms report it buys, budgets

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laughing businesswoman talking on the phone in office in front of four monitorscentralized scanning is common, backup appliances less so.

by 卡塔尔世界杯常规比赛时间 research
accounting firm operations and technology survey

the 2021 accounting firm operations and technology survey has turned up interesting findings in how firms are maximizing their use of technology.

more: dell tops in accountant tech | tech vexes 58% of solos | firms on the brink of big spending
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here are some highlights, but note that percentages related to “all firms” are heavily skewed to firms of under 10 employees, which accounted for 66 percent of respondents:

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cloud backup declining

by

appliances are considerably behind. but who’s still using tape?

the accounting firm operations and technology survey

backing up to the cloud is in a curious position. it’s the most popular primary system for accounting firms, but it’s on a decline, whether it’s handled by the firm or a vendor.

bar chartcloud backup was chosen by 37.3 percent of respondents to the accounting firm operations and technology survey, down from 42.3 percent.

more: only 19% of firms host email | 52% of firms look outside for it support | firms battle disruptions in communications and workflows | pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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backup appliances were chosen by 21.3 percent as shown in the chart below.

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dell tops in accountant tech

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cch, quickbooks among leaders in software.

by 卡塔尔世界杯常规比赛时间 research

one of the biggest decisions an accounting firm can make is a choice of tech product. whether it’s a third monitor for everybody or a tax app appropriate to the firm’s size, it’s an expensive decision that can cause headaches in the short term or continued costs in the longer term.

more: tech vexes 58% of solos | firms on the brink of big spending  | should the irs create a free file app of its own?  |.why the future is in risk advisory  | survey: only 19% of firms host email  | 52% of firms look outside for it support
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the annual accounting firm operations and technology survey, using data from 2021, tracked data on preferred hardware and software brands. here are some of the most popular tools.
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52% of firms look outside for it support

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“i’ll just handle it myself” is the answer for 28 percent.

the accounting firm operations and technology survey

more than half of accounting firms look outside their walls to solve information technology issues, but that doesn’t mean they all do it the same way.

bar chart

more: pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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an external consultant is an answer 30.9 percent of the time, for projects or as needed, with a managed service provider taking on the rest. of respondents who handle things on their own, 80 percent are solo practitioners, while full-time it staff or an it department are 60 percent likely at extra-large firms. read more →

tech vexes 58% of solos

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checklist: the five best ideas for winning the tech wars.

by 卡塔尔世界杯常规比赛时间

solo practitioners enjoy certain privileges. they can set their own hours, pick their clients, work at their own pace, dress in office grunge, nap at will and take their dogs to work.

more in surveys & research:  clients would switch for portals | firms on the brink of big spending | m&a looms large for 30% of firms  |  is remote the new normal?  |  the top challenges in these turbulent times   |  new worlds of opportunity   |  accountants agree: the top five ways to fix the irs   |  survey: firms on the brink of big spending  |  irs audit rates are dropping, and big earners couldn’t be happier  |  six more ways to fix the irs  |  cpa hiring rises as number of new grads continues to decline   |  trend? or just hype? accountants weigh in  |  six quick solutions for irs backlogs  |  the big battles ahead for corporate finance

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but when it comes to tech, solos can be challenged. they may know accountancy and their clientele better than anybody in town, but when it comes to tech, they don’t know

  • what’s out there,
  • what’s coming down the techno-pike,
  • how to use new apps and
  • whether the latest stuff is worth paying for.

and they tend to run their hardware into the ground, investing in new tools only when they have to.
read more →

firms battle disruptions in communications and workflows

by

next up? scheduling and paper.

the accounting firm operations and technology survey

covid-19 and its variants forced a number of challenges upon the accounting profession. accountants are telling us that tops on that list were communication and workflow, at 49.4 and 49.1 percent respectively. even solos felt the burn, at 40.6%, so it wasn’t all internal communication to blame, although large firms of 51-100 felt it most sharply, at 60%.

survey results

top corona problems: communication, workflow, and digitizing paper top the list.

more: pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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some responses that didn’t hit the top six still were notable. postal mail was called out by 21.9 percent, including 40 percent of solos and 33.3 percent of large firms. solos also reported phone calls and lost income at 24.6 percent. despite most groups saying lost income was a challenge, relatively few put that figure anywhere near the one for paying bills, except extra-large firms noting 11.8 percent difficulty with lost income and 5.9 percent with paying bills.

details by firm size read more →

pandemic changed work for 64%

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extra-large firms had the easiest going.

the accounting firm operations and technology survey

covid-19 threw some in accounting – 3 percent – into turmoil, while 61.4 percent reported that some change was in order.

 

bar chart

 

 

more: pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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pandemic? what pandemic?

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how some firms are flourishing in the new normal.

the accounting firm operations and technology survey

one of the benefits of an annual report such as the accounting firm operations and technology survey is the opportunity to see not only the current sentiments but those from years before. sometimes, though, new issues arise and are momentous to warrant inclusion via a new question … as when covid-19 crashed onto the scene.

bar chart

more: m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 management problems: staffing, workflow and tech
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of those working at home for the first time, by far the largest group fell into large firms of 51 to 100 employees, where 93.3 percent were new to remote work. medium and extra-large flanked them in those results, at 51.9 percent and 47.1 percent respectively. see table: read more →