Managing Tech Responsibilities Without Dedicated IT Staff
CPA Crossings
Providing technology-based learning nationally for CPAs that need to stay on the cutting edge of a dynamic profession.
5 Key Challenges and Unique Paths for Different Firms
Research developed by the CPA Crossings Research Team - Kelly J. Waffle, Director, Research & Innovation, and Megan Nadzan, Ph.D., Research Administrator.
Our most recent white paper, 2024 CPA Firm Tech Report, gathered the perspectives and recommendations around technology utilization and prioritization from five technology and accounting experts:
Our experts have come to a consensus that there is a set of challenges that keeps CPA firms from getting the most out of their technology.
Firms Are Not Sure Where to Begin or What Comes Next – The report identifies the real challenge as technology adoption rather than selection and implementation. Last week's edition identified there are unique paths for different firms and each firm’s journey toward technology adoption is influenced by factors such as budget, resources, goals, and scalability.
The expertise of our accounting technology specialists provide tailored guidance for firms of all sizes. Review the first two of the five challenges and solutions from our technology specialists identified in last week's edition. Today we roll out the concepts of the next two challenges and solutions for your firm to start implementing for your technology adoption journey. *** Get the full strategic report from our website (Instructions below).
Challenge 3: Managing Tech Responsibilities Without Dedicated IT Staff
For firms without dedicated IT staff, options include:
? Cloud-Based Services: Transition to cloud-based software-as-a-service (SaaS) solutions to outsource tech management.
? Delegation: Empower existing employees with tech responsibilities through training and development.
? Outsourcing: Consider third-party service providers to handle tech tasks, balancing the pros and cons of small versus large providers.
Challenge 4: Addressing Inefficiencies and Talent Shortages
Streamlining workflows and addressing inefficiencies are critical for successful technology integration. Key actions include:
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? Optimizing Workflows: Use the Firm Tech Ecosystem to identify and implement tools that enhance productivity.
? Navigating Disruptions: Develop strategic plans to integrate new technology without disrupting existing workflows.
? Value-Based Billing: Shift business models to allow staff time for learning and innovation.
Key Insights
To begin advancing your firm to a higher digital maturity level on the CPA Firm Digital Maturity Model, it is essential to craft a comprehensive strategic plan. This process resolves ambiguity about goals and facilitates the development of the firm’s short- and long-term needs.
The full 2024 CPA Firm Tech Report guides you through the evaluation process when developing or reassessing a strategic plan. See below how to get your copy, and learn more about challenge (5) and the concluding considerations in next Wednesday's edition of "Accounting Meets Tech!" If you want immediate results to any CPA Crossings research, follow the subscribe instructions below.
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About CPA Crossings Research
The CPA Crossings (CPAx) Research & Innovation Program offers a powerful benefit to drive member and staff retention for the accounting profession. Now is the time for state CPA societies, associations, and independent firms to embrace new ways to increase their appeal to prospective members and to strengthen current staff relationships.
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