Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/160971
VOLUME 23, NUMBER 9 By M. Darren Root, CPA.CITP, Executive Editor 800-547-7377 • www.CPAPracticeAdvisor.com Publisher: Jim Baker Executive Editor: M. Darren Root, CPA.CITP Editor: Isaac M. O'Bannon Technology Editor: Brian Tankersley, CPA.CITP Managing Editor: Jill Burnett Associate Editor: Taija Jenkins Columnists: David McClure Doug Sleeter Jim Boomer, CPA.CITP Kristy Short Michelle Golden Randy Johnston Rene Lacerte Roman H. Kepczyk, CPA.CITP Art Director: Rhonda Cousin National Sales Manager: Barry Strobel Site Manager: Brittney Klaas Media Production Representative: Barb Evenson Audience Development Manager: Angela Kelty Editorial Advisory Board: Bob Cedergren, CPA.CITP, CISA, CISM, CISSP, CGEIT Chris Fraser, CPA.CITP, CISA, MCP Jason Lawhorn, CPA.CITP Gary A. Masino, CPA Ryan McCowan, CPA.CITP Linda O'Neal Troy Patton, CPA David Primes, CPA.CITP Donny Shimamoto, CPA.CITP Doug Sleeter Sandra L. Wiley CYGNUS BUSINESS MEDIA CEO: John French CFO: Paul Bonaiuto VP, Human Resources: Ed Wood VP, Audience Development: Julie Nachtigal VP, Technology: Eric Kammerzelt CYGNUS PUBLISHING Executive Vice President: Gloria Cosby Vice President of Production Operations: Curt Pordes For reprints and licensing please contact Nick Iademarco at Wright's Media 877-652-5295 ext. 102 or niademarco@wrightsmedia.com. The opinions given by contributing authors are their own and are not the opinions of our staff. All trademarks used are the property of their respective owner. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Practice Advisor, (ISSN #2160-8725 (print), ISSN #2160-8733 (digital); USPS #017-576) is published eight times a year (April/May, June, July, August, September, October, November and December) by Cygnus Business Media, Inc., incorporating two editions known as CPA Practice Advisor and NSA Practice Advisor, 1233 Janesville Avenue, Fort Atkinson, Wisconsin 53538. Periodicals postage paid at Fort Atkinson, WI 53538 and at additional mailing offces. Printed in the U.S.A. Send all subscription inquiries or change of address to: Practice Advisor, PO Box 3258, Northbrook, IL 60065-3258. Phone: (877) 382-9187 (toll free); 847-559-7598 (local) Fax: (847) 564-9453 Email: Circ.CPA@omeda.com Subscription Rates: The basic annual rate is $3, based on qualifying associations of 10,000 or more public accountants that may also subscribe for all their public accountant members (certain restrictive covenants apply) for a basic subscription rate of $9 per member for a three-year subscription. One year subscription for all others: USA - $48; CAN $70 GST; INT'L $99 GST #131910168. POSTMASTER, please send address changes to: Practice Advisor, P.O. Box 3258, Northbrook, IL 60065-3258. Canadian address changes to: Canada Post PM40612608. Return Undeliverable Canadian Addresses to: Practice Advisor, PO Box 25542, London, ON N6C 6B2. MY PERSPECTIVE Are You Suffering from a Professional Disconnect? I f you're like me, your mobile device is an indispensable tool that you use on a daily basis to manage your personal life. Te list of digital tools that I use is a long one. I use my smartphone or tablet to access websites when booking my air travel, to check-in for fights and to display my boarding pass. I use my bank's online portal to do all of my business and personal banking including making deposits, transferring funds and viewing transactions. I also use QuickBooks Online (QBO) to ha nd le my persona l fnancial accounting so that all my bank and credit card transactions fow automatically into QBO. And of course, I use my mobile device to access my email, calendar, frm contacts, social media and other fnancial applications. Current consumer research shows that I'm not alone in my digital device usage paterns. According to the Pew Internet and American Life Project, last year 55 percent of adults used the internet on their mobile phones— double the number who reported doing so three years ago. In addition, 31 percent of mobile internet users said that they go online using their mobile phone most of the time instead of using a desktop or laptop computer. Given these statistics, I think it's safe to say that we've reached the point where it is expected that information and our personal and business functions will be available at our fngertips. If I need to make a bank transfer, and I'm not siting at my desk, I want a vendor that will provide me with the tools to do it at my convenience. For most of us, this is our life today in the digital age. However, for many of us who own or manage professional accounting firms, there is a major disconnect between our own mobile habits and expectations and our perception of our clients' expectations for the same things. In a nutshell, while we can't imagine not using digital tools and services on a daily basis, we don't make the connection that our clients expect the same type of services as us. So, with this disconnect in mind, what is your firm doing to accommodate your clients' needs? I know, you're providing wonderful customer service and your product quality is outstanding. Again, I ask you, what are you doing to meet your clients where they are, in the way they want to consume information? If the answer is "nothing" or, "I'm not sure" then you have a professional disconnect. In essence, you are providing the same services using the same delivery model that you have for years, yet your clients are expecting to receive your services diferently. Not sure about the services that your clients may wish to have anytime/anywhere access to? Here are a few ideas. If you process payroll, client employees might like the convenience of accessing their payroll check st ubs f rom their mobi le devices. Clients may fnd it helpful to have access to their tax returns, financial statements, and other reports on multiple devices. For clients using QuickBooks, you can provide access to company fles from a tablet device—very helpful when your clients are out of the ofce. Te common theme here is that we all need to evaluate our old business models in order to meet the reality of today's connected clients. Solving the professional disconnect between what your firm does and what your clients want doesn't have to be overwhelming. Start by understanding how your clients are consuming information and interacting with vendors that do ofer their services in digital and mobile formats. Ten map out your existing delivery models and compare them to those service providers. From there you can start to look at solutions to repair your firm's professional disconnect and truly deliver the quality service that your clients desire. Darren is the Executive Editor of CPA Practice Advisor. He remains in public practice as the principal of Root & Associates, LLC, in Bloomington, Indiana, and is president of his consulting practice, RootWorks. He formerly served on the Board of the AICPA's CITP Credentials Commitee and is a former member of the Board of Directors for the Indiana CPA Society. He speaks at dozens of professional organizations each year and fequently serves as a guest lecturer at Indiana University's Kelley School of Business. September 2013 • www.CPAPracticeAdvisor.com 3