As with most industries, technology has changed the way accounting firms work. Accountants are no longer number crunchers. In fact, technology does most of that work for them. Accounting IT service advancements have enhanced the accountant’s ability to interpret data efficiently and effectively. He/she can now interpret the language of business with such ease that the accountant has become a corporation’s most trusted business advisor.
Firms today rely on a broad range of applications to both run their business and deliver their services. The CCH suite, Thomson Reuter’s CS Professional Suite and/or LaCerte Tax software are central to just about every successful accounting firm’s practice. Their clients use software like QuickBooks and Sage to manage their finances and “talk” with their accountant. And, of course, implementing a document management systems further allows the firm to adopt a more efficient and paperless workflow. More recently, collaboration tools like Zoom have become critical for communicating both within the office and with clients. Having the right technology in place is paramount.
IT Services For Accounting Firms
And while a CPA is trying to ensure technology allows them to provide superior service, they also have to keep a watchful eye on security because the financial industry is a prime target for hackers. Accounting firms that don’t have a handle on IT security are the ones that usually don’t last long. With the penalties high for data breaches of sensitive information, many companies just can’t recover fully after they’ve had a breach. The costs go much further than paying financial penalties – much worse can be the loss of customer trust.
Because information technology takes on a major part of running a successful organization, the IT department needs to be well managed. This manager needs to oversee that the technology supports the organizations’ strategies and objectives. The organizations’ IT systems must be ahead of the competition, they must be financially responsible to the organization, they must be secure with a backup plan for failure, and they must be in compliance with industry regulations.
The Right IT Services
With so much riding on their technology, it is critical that accounting firms have the right IT resources in place. IT managers must be in direct alliance with executive managers from all departments of the organization. Together they must orchestrate successful business planning, and compliance-related management decisions in reference to IT and the business model. Larger firms may hire their own IT staff while most smaller firms rely on an Outsourced IT partner. Read “To Hire or Outsource IT” for more on this topic.
Many accounting firms can benefit greatly from using managed IT services. Managed IT services allow firms to focus on the facts and figures of their business and anticipating client needs, rather than worrying about whether their technology is working. A good IT partner will understand their business and can also serve as their virtual CIO. They help the accounting firm make the right technology decisions by building out solutions that have their firm’s needs in mind. Staff productivity, client service, business requirements, budget, data protection, data security and compliance regulations all need to be considered. Proactive management of the systems will help ensure staff can keep up with the demands of the firm, especially during the busy tax season. Managed backup protects the firm’s data and a strong multi-level security plan protects the systems from today’s threats while managed backup ensures the data is recoverable should disaster strike.
IT services for accounting firms are never a one size fits all – each firm is unique. But, it helps to have partners in place that not only understand the industry but also takes the time to understand the goals and objectives of your firm.
In the Rochester area, CMIT Solutions provides local, responsive IT support and technology services for small to mid-sized businesses. As your IT partner, we ensure systems are running, your data is secure, and your staff is productive. Backed by a national system, we have over 200 locations across the country with local ownership in Rochester.
Cheryl Nelan has over 25 years experience supporting small to mid sized businesses and helping them grow. In 2011, she started CMIT Solutions of Monroe to support businesses in the Rochester, NY area. She wanted to take her experience and leverage the strength of a national franchise to help local businesses leverage technology. Focusing on customer service and developing a culture where great people want to work has always been central to her mission. Today, CMIT Solutions of Monroe is one of the top CMIT franchises and the recipient of a number of local awards as well. She is proud of the team and loves working with our clients.
