Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/200952
VOLUME 23, NUMBER 11 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 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. 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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 Is Your Firm Plugging In, Or Pulling Out? W hile I don't want to seem overly dramatic, I believe that we are now facing a pivotal point in our industr y—one where firm leaders will need to decide whether they are going to a) re-energize their frm by 'plugging in' and adopting a business model that integrates web and mobile technologies as part of a cohesive brand or b) make a conscious decision to 'pull out' of the market by not responding to the changing environment and fall seriously behind the curve. We have been heading toward this turning point for several years, driven by the mass adoption of the Internet. However, the rapid growth of mobile technology is further accelerating the need for frms to ofer clients enhanced connectivity, to communicate their unique brand atributes using helpful content, and to maximize the efciency of their operations in order to remain competitive. I have written and spoken many times about the importance of firms having a strong web presence, a cohesive brand, and online access for their clients, but it bears repeating: the quality and functionality of your website and the degree to which your frm employs technology is fast becoming a critical part of a frm's brand—it's one of those intangibles that clients are coming to expect as a standard option when they shop for accounting services. Today, if your frm does not have a consistent brand image or a contentrich website that serves as an online extension of its high quality, helpful services operating seamlessly on a mobile-friendly platform, you may be able to get by; but in a few short years, it is unlikely that you will continue to succeed. Not only will your frm be considered old-school, but the prospects that used to find you in the phone book will pass over you as they Google local accounting firms and your firm doesn't appear in their search results. Not to mention that your existing clients are unlikely to tolerate being forced to do their accounting the old-fashioned way. For those of you who are still skeptical about the need to develop your online presence and web and mobile client access as part of your overall frm strategy, think about it this way: the way your frm is presented online and the way you ofer services is tied directly to the way your clients perceive not only the frm itself, but also you, as the frm owner. Remember, your personal brand is also tied to your frm. Are you really an "old person" who is unwilling to change and never uses technology themselves? If you are a regular reader of this publication, it is highly unlikely that you are. Ask yourself if there is a professional THE WAY YOUR FIRM IS PRESENTED ONLINE AND THE WAY YOU OFFER SERVICES IS TIED DIRECTLY TO THE WAY YOUR CLIENTS PERCEIVE NOT ONLY THE FIRM ITSELF, BUT ALSO YOU, AS THE FIRM OWNER disconnect between the way that you personally use technology and the way that your frm uses it. If you're like many CPAs I know, you are constantly connected to your smartphone and other mobile devices. You probably bank online and you may be more than a litle familiar with the convenience of online shopping—accomplishing both using your tablet. So why not ofer this same level of access and convenience to your clients? For those firms who have not yet started down this path, the time to 'plug in' is now before your clients decide to 'pull out' and seek a frm that has already embraced a new way of doing business. 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. November 2013 • www.CPAPracticeAdvisor.com 3