survey: communication plan is to stay the course
only 11% subscribe to communication services.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
technology
survey: phone, email tied for client communication
portals used by 53 percent.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
survey: merger? maybe
nearly half of firms say they’re thinking about it.
by randy johnston and brian tankersley
the accounting firm operations and technology survey
deliver internal reports digitally
yes, even to the owners.
by roman h. kepczyk
improving firm efficiency means that the owners have to get on board. 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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most firms consider these documents confidential and yet copies are distributed throughout the office, many of which are not secured. a better solution is to set up an “owner’s drawer” on the firm’s portal or document management system and post one copy of the monthly financial statements when they are ready.
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why daily t/e entry matters
how about better cash collection?
by roman h. kepczyk
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.
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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. while most firms have a daily time entry “policy,” the biggest abusers of the policy are often owners and managers, so it is about time for them to get on board and use the system.
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