How to Make the Cloud Count for CPA Firms and Accountants

According to a study by AICPA subsidiary CPA.com, 90% of Certified Public Accountants agree that the "delivery of digital business processes to clients" will become a key differentiator among accounting firms in the next five years. Digital transformation is impacting every industry, and the accounting industry is no exception.

Rising labor costs and competitive fee pressures require accounting firms to work more efficiently than ever before. Meanwhile, the rise of cloud software providers have enabled CPAs to work in new ways - for example, accessing documents and collaborating with clients from anywhere, anytime. However, in order to transition successfully to the cloud from legacy IT systems, there are several key requirements firms must consider.

One of these requirements is the need to empower CPAs with self-serve technology. This means equipping CPAs with easy-to-learn, easy-to-use tools that enable them to do their work without always having to go through IT. If the software is too complex or cumbersome to use, firms will suffer from low adoption and lower productivity as a result. Specifically, self-serve technology means CPAs are able to perform day-to-day tasks like:

  1. Set up a shared folder or workspace to collaborate with clients
  2. Easily share and grant access to financial or personal documents
  3. Accelerate client onboarding through simple workflows

By putting useful technology in the hands of CPAs, firms can increase employee productivity, bring on more clients, and increase firm profitability. However, deploying these solutions cannot come at the expense of maintaining enterprise-grade security, and adhering to a plethora of compliance regulations such as FINRA, HIPPA, SEC 17a-4, SEC 17a-3, and others. Fortunately, it is possible to achieve all of these goals.

To learn more about this and other key considerations, please join us on August 3rd 11:00 AM - 12:00 PM PDT for a webinar hosted by Marc Staut, former CIO at CohnReznick LLP and myself.

Register here!