tech and fintech

your strategic technology plan needs a budget

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do as you tell your clients to do.

by roman h. kepczyk

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). unfortunately, many accounting firms do not do a good job of integrating their information technology requirements into the firm’s overall strategic vision.

more: survey: 57% of clients provide audit documents digitally | 2019: the biggest tech changes yet | survey: digital audit confirmations not the norm | survey: the best way to handle crm | portals, encryption vital to securing client documents
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information technology impacts virtually every aspect of accounting firm production and is usually the biggest expense after your personnel costs. accordingly, it should be managed as the critically important asset that it is.
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report monthly on tech kpis

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what are your core initiatives?

by roman h. kepczyk
quantum of paperless

most firms have a line partner or firm administrator overseeing the firm’s information technology department.

more: firm security needs an independent review | survey: digital audit confirmations not the norm | survey: the best way to handle crm | portals, encryption vital to securing client documents | survey: fewer field auditors carry scanners
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these personnel 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 it initiatives and report to management.
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why you need a tech strategy consultant

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what to do with these new capabilities? commercialize them, of course.

by gale crosley
the rosenberg survey: national study of cpa firm statistics

last year was a tipping point, as firm leaders began to convincingly acknowledge the fact that technology is going to rock their world. it was the year our colleagues finally got the memo that the profession is poised for transformation. now the debate is around how quickly and in what sequence.

more from the map survey: 2019: three new trends to watch | 2019: why small firms shun mergers | 2019: using m&a to launch consulting | 2019: client service moves to fore | 2019: expect more alliances | 2019 trends: client service changes | 2019: shifts in hiring & office space | 2019: firms grapple with change | staff policies improve, but not mentoring
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this is hardly the first time we’ve had to grapple with significant change. but never have so many promising technologies come to practical commercialization at once.
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2019: tech isn’t the problem. it’s the solution

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dobek
dobek

sarah dobek foresees new leaders, new services, new clients.

by rick telberg
the rosenberg survey: national study of cpa firm statistics

it may seem too obvious to bother mentioning, but the accounting industry, from audit firms to tax prep to corporate finance, is in the process of transition. but too many managers think that just means technological transition.

more from the map survey: 2019: more focused training | 2019: expect more alliances | 2019 trends: client service changes | 2019: shifts in hiring & office space | 2019: firms grapple with change | staff policies improve, but not mentoring
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technology may be behind a lot of the transition, but technology itself is not the transition. it’s the enabler of transition.

sarah dobek, president and founder of inovautus consulting, has identified numerous interwoven transitions in process, some already peaked and passing, others coming down the pike.

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firm security needs an independent review

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who needs cybersecurity training? your whole staff.

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: survey: digital audit confirmations not the norm | training that works | survey: 61% of auditors commonly use data extraction tools | survey: firms divided on esignatures
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the firm has a fiduciary responsibility to protect this data from anyone not specifically authorized to view it. proper security is very difficult for any internal network administrator to guarantee as few have the experience and have participated in ongoing training to implement security settings optimally the first time.
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training that works

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woman training man at computerremember to ask personnel for their input, too.

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: survey: 61% of auditors commonly use data extraction tools | standardize your firm’s quickbooks support | make your accounts payable digital | survey: 62% of field auditors use multiple monitors | enter t&e daily | survey: firms divided on esignatures | survey: 53% of firms deliver tax returns digitally
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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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