tech and fintech

soloists lead profession in mobile tech

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but most firms still keep their accountants desk-bound.

49 percent of solo cpas work 11 percent or more time from a location other than their office. <a href="//m.g005e.com/shop/afot/">source: accounting firm operations and technology survey</a>
49 percent of solo cpas work 11 percent or more time from a location other than their office. accounting firm operations and technology survey

by randy johnston and leslie garrett
accounting firm operations and technology survey

despite the increasing availability of cloud technology and mobile apps that ensure you can be instantly transported into your familiar desktop workspace while working remotely, accountants are still not working from everywhere, according to the 4th annual accounting firm operations and technology survey.

more survey results: how savvy cpas use the afot survey to make smarter business decisions | keep pace first, change will come (like it or not) | you’re not tech-savvy if you’re not cyber-safe, too | lions and tigers and blockchain and bots, oh my!
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deliver all reports digitally

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older man using laptop at homewhen owners use portals, they’ll feel comfortable recommending them to clients.

by roman h. kepczyk
quantum of paperless

improving firm efficiency means that the owners have to get on board.

more on tech spending: revamp daily t&e entry | how to stop ‘overauditing’ | devil’s in the details of digital file delivery | preventing document retention headaches | which wireless?
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one of the more obvious opportunities is the delivery of the firm’s own financial reports. many firms still print a hard copy of the monthly financials and distribute them to each owner, many of whom physically store these documents in a binder or drawer in their office.
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revamp daily t&e entry

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man holding papers and working on laptop in front of large windowcommitment has to come from the owner, not just staff.

by roman h. kepczyk
quantum of paperless

studies done over the past two decades have clearly shown that there is a significant improvement in realization for firms that enter, release and post time and expenses on a daily basis. this process allows for daily or “hotel”-type billing that is sent out with the completion of each billable project.

more on tech spending: how to stop ‘overauditing’ | how audit field equipment has changed | optimize scanning applications and procedures | document management requires firm standards | why unified messaging matters
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the next step in the evolution of time and billing systems provided real-time dashboards to report on firm activities and effectively allow firms to generate invoices. this can work only if all time and expenses for all personnel are captured within the system.
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how to stop ‘overauditing’

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hard-working man in officean outside consultant may be in order.

by roman h. kepczyk
quantum of paperless

traditional audit practices use the previous year’s audit programs and processes updated for the current year as their standard operating plan.

more on tech spending: how audit field equipment has changed | 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
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eventually this can lead to a significant amount of “overauditing.” breaking this habit is difficult as every level of staff has been trained in the manual processes and falls back on them when deadlines approach.
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focus on cyber risk, not just security

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infosec triangletake a comprehensive and holistic approach that includes your business strategy.

by donny c. shimamoto

cybersecurity is a huge buzzword right now. businesses are worried about it, people are worried about it and vendors are trying to sell you cyber protection solutions.

more: making it matter to accountants | it nerds need budget help | 8 ways to wrestle software subscriptions into submission | it hardware gets even more complex (great!) | how accounting geeks and techie nerds can play nicely together
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attending a cybersecurity webinar or seminar is also not for the faint at heart. even i, an it specialist in the cpa profession, often leave those events scared to put any of my personal data anywhere online.
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how audit field equipment is changing

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two businessmen shaking handstwain compliance remains a concern with scanner options.

by roman h. kepczyk
quantum of paperless

the advent of today’s audit “document container” applications has transitioned every aspect of audit production into a digital format.

more on tech spending: how and why to establish firm procedures manuals | devil’s in the details of digital file delivery | preventing document retention headaches | which wireless? | remote access takes planning | transitioning to windows 10 | desktops vs. laptops
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the key to successfully using these engagement applications is to make sure your personnel have the optimal equipment with them to work digitally. this includes multiple monitors, image capture equipment and remote communications capabilities.
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is blockchain an extinction event for accountants?

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blockchain illustration using train carsthe make or break question.

by hitendra patil
accountaneur: the entrepreneurial accountant

till today, “work” in the accounting profession involved creating and re-creating the accounting information and then making sense out of it.

more on entrepreneurial strategy: is blockchain a cloud killer? | 22 ways blockchain will impact the accounting profession | podcast: how to become a true ‘accountaneur’ | how job titles can rebrand your firm | forget cpe, you need an fpe | ‘uberizing’ means more than technology
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e.g., you take an invoice in a paper form – printed from the data already existing in someone else’s accounting software (private ledger) – and then you re-create the same data by converting (manual data-entry, ocr, etc.) that paper info into data again.
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how and why to establish firm procedures manuals

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it’s institutional knowledge; keep it in the institution.

by roman h. kepczyk
quantum of paperless

every firm has accountants who are 10 percent, 20 percent or even 50 percent more productive in their departments than other personnel because they have simply “figured it out.” unfortunately, when these people leave the firm, their unique knowledge of specific processes and shortcuts goes with them.

more on tech spending: devil’s in the details of digital file delivery | optimize scanning applications and procedures | document management requires firm standards | why unified messaging matters | get in front of application updates
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it is the responsibility of firms to capture these individuals’ best practices so that that specific knowledge can be shared and accessed by all firm members, both now and in the future. this can be accomplished by making a concerted effort to develop a best practices manual within each department.
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is blockchain a cloud killer?

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computer monitors morph into chain linkswelcome to an accounting model that’s predictive and always on.

by hitendra patil
accountaneur: the entrepreneurial accountant

let’s talk about the technology behind blockchain.

more on entrepreneurial strategy: 22 ways blockchain will impact the accounting profession | blockchain accounting is an oncoming train | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth
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you have accessed information from the internet for quite a few years. now you have started accessing information on the cloud.
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devil’s in the details of digital file delivery

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man holding up a hard disksome client education likely will be in order.

by roman h. kepczyk
quantum of paperless

one of the most critical steps in transitioning a firm to a paperless environment is capturing information in a digital format at its root source as that information enters the firm.

more on tech spending: optimize scanning applications and procedures | 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
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at the base level, this means having clients provide you information in a digital format, which can be done via email, digital fax or through a portal rather than with a physical document. while email is currently the most prevalent tool utilized by clients, it is anticipated the security concerns will help clients transition toward portals.
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22 ways blockchain will change the accounting profession forever

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illustration of network with city backgroundwill you be ready?

by hitendra patil
accountaneur: the entrepreneurial accountant

stock exchanges and banking systems have worked on similar fundamentals in handling and creating what are known as “non-repudiable” transaction records: straight-through processing (stp), electronically connected networks of intermediaries in their “ecosystem,” etc.  but unlike bitcoin, the stock exchange and banking systems are highly regulated and centrally owned.

more: blockchain accounting is an oncoming train | how to beat automation in accounting | 3 reasons small firms stay small | the new needs of people at accounting firms | 4 pillars of future firm foundation
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more recently, bitcoin technology has created a similar “distributed shared ledger” ecosystem.
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how savvy cpas use benchmarking to make smarter business decisions

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green "opportunity" highway sign with sunrise backgroundbenchmarks for firms large and small provide roadmaps for strategic success.

by rick telberg
accounting firm operations and technology survey

every day in the united states, more than half of all accounting firm owners are thinking about a merger, an acquisition or both. m&a is now as routine to the day-to-day operations of running a tax and accounting practice as turning on the lights in the morning and taking out the garbage at night.

more from afots: keep pace first, change will come (like it or not) | you’re not tech-savvy if you’re not cyber-safe, too | lions and tigers and blockchain and bots, oh my!
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

fortunately, a new survey provides a one-of-a-kind roadmap for growth-minded professionals seeking the hard-boiled data essential to making smarter strategic decisions. with thousands of key metrics for firms of every size, you can compare your firm against similar firms. better yet: you can compare where your firm is today, to where it will be tomorrow.
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