Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/44903
PRODUCTIVITY IN PRACTICE BY ISAAC M. O'BANNON, TECHNOLOGY EDITOR A New Perspective on Client Service: How optimism and remote technologies paved the way to one fi rm's success T e accounting profession has oſt en been ste- reotyped as curmudgeonly, grumpy, stodgy, and fi scally dour, and, well … there were probably good reasons for those descriptions at one time. Aſt er all, in decades past, accounting was a serious business that was the domain of fi nancially conservative number crunchers who worked 60-hour weeks in a consistent suit-and-tie wardrobe. Cathy Iconis, a Georgia CPA, is part of a new generation of professionals who aren't necessarily trying to change the way accountants are perceived, Cathy Iconis, CPA Firm: CEO, Iconis Group, LLC WEBSITE: www.IconisGroup.com LOCATION: Atlanta, Georgia PRACTICE SPECIALTIES: Virtual CFO, Bookkeeping, Training, Consulting EDUCATION: Oglethorpe University, Atlanta PROFESSIONAL ASSOCIATIONS: AICPA, Georgia Society of CPAs MOST RECENT BOOK READ: "Safe Haven," by Nicholas Sparks SOCIAL NETWORKING: http://www.linkedin.com/in/ciconis http://twitter.com/cathyiconis http://www.facebook.com/cathyiconiscpa 172 fi rm and works with them to provide accurate data. Ensuring accurate and reliable client fi nancials has become the central component of her practice. "I really enjoy working with regular small busi- ness owners — people who aren't fi nancial experts themselves," Cathy said. "For businesses that can't aff ord full-time, in-house accounting staff or a CFO, having help with processes and systems that can make them more effi cient and fi scally responsible offi ce suite. She supplemented her own capacity by originally using college interns, before more recently adding Jenny Githens as the fi rm's business manager and Jody Matlock Lappi, CPA as a senior accountant. Remote access technologies are a central com- ponent of the fi rm's workfl ow and services, with Jody living and working from an offi ce in Mississippi, and remote clients as far away as Arizona. All clients are guided in their use of an online accounting program that Cathy and her staff can access to perform various services, including managing AP processes and reconciliations. "Since we don't compete with larger and more PRODUCTIVITY SCORE™ traditional accounting fi rms, and their services don't compete with us, we view them as complemen- tary," Cathy explains. "We have a day-to-day operational and managerial relationship with our clients. We help ensure that they are prepared when it comes time to plan or prepare their income taxes. We help our clients understand what their numbers mean and develop bet er business strategies, which, in turn, gives the traditional fi rms a bet er platform for developing tax reduction but her perspective on client service and an optimistic at itude just might have that eff ect. Following several years at a large regional accounting practice, where she worked in tax, audit and forensic accounting, Cathy handled executive reporting and managerial accounting for Balfour Beat y, an international construction fi rm (www. balfourbeat yus.com) and one of the top fi ve com- mercial construction enterprises in the country. T is broad experience across most areas of the profession instilled in her the ability and confi dence to go out on her own two and a half years ago. It also let her know what she did and didn't like. And as the principal of Iconis Group, LLC (www.Iconis Group.com), she has been able to build her practice around the services and types of clients she enjoys. Based in Atlanta, the fi rm focuses on providing part-time CFO services, bookkeeping and training to small businesses. "I don't do taxes; not even my own," she notes with a tone that sounds like a combination of pride and relief. For compliance needs, she refers clients to a non-competitive local professional can be a great help. I really feel like I become a part of their team, helping them see the big picture and implement changes that can have immediate and long-term implications." Her clients are primarily design fi rms, other service providers and consulting companies, with revenues up to $10 million. In this range, some do have internal accounting staff , but partner with Iconis Group to relieve some of the workload and gain more professional insight into their fi nances. strategies." As a new fi rm with a younger client base, Iconis Group takes advantage of technology to communicate with clients, typically by email, but also via SMS texting and "I DON'T DO TAXES; NOT EVEN MY OWN" Although still a small fi rm, Iconis Group has grown fast since Cathy started it from a home offi ce in 2009. Since then, she has moved to a professional 32 November 2011 • www.CPAPracticeAdvisor.com instant messaging. She also uses Google Apps and notes that she's in the process of improving her project and time management capabilities. She successfully used LinkedIn and Twit er to grow her fi rm in its early days, gaining like-minded technology and social media savvy clients. As a result of its technology usage and workfl ow processes, Iconis Group received a score of 172 on the Productivity Survey (www. CPAPracticeAdvisor.com/productivity-survey), a free online assessment tool for professional tax and accounting fi rms. Iconis Group uses a pay fi rst, value pricing model. Cathy says, "I really hated tracking my hours at other fi rms, and fi xed pricing provides more consistent cash fl ow planning for both our clients and our practice." She has always been somewhat of a "tech guru and Excel Queen," and one of her greatest values to clients and her former employers has been her ability to quickly understand new technologies and integrate them in ways that make processes work bet er. As