Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/588168
"W hen choosing a cloud solution that is right for your frm, staf and cli- ents look for a solution that provides an open platform and is built to scale," explained Jim McGinnis, vice president, accountant segment at Intuit. "This allows you to create customizable solutions with third-party apps to meet the unique needs of each of your small business clients, regardless of size, and across multiple geographies. "A cloud solution also has to allow for accountants and small businesses to collaborate with one another, sharing content and documents, and allowing access any time, any w here on any device. Finally, the best cloud solution integrates seamlessly with added ser- vices, such as payroll, payments, and tax. With an integrated, seamless solu- tion, added services can be activated for individual clients with a simple click on a buton. Te fow of data across these services also provides you with greater efficiencies, eliminating the need to enter twice, if at all." Jennifer Warawa, global vice presi- dent, product marketing-accountants for Sage, recommends first deter- mining your goals. "What kind of frm do you want to run? Do you want to add more value to your clients, or simply automate business processes, or both? Te size of businesses you want to support should also be taken in to consideration. You cannot choose a solution until you know what you're looking to get out of it. "Once you know what type of solu- tion you're looking for, do your research and even try them out. Most vendors ofer free trials for their solutions. Even if you like the frst one you try, I recom- mend trying a few out, just to be sure you won't be missing out on any key functionality ofered elsewhere. Finally, talk to your clients. W hat are they looking for from you, their trusted advisor? Client demands are changing, and to stay relevant you want to make s u r e y o u 'r e m e e t i n g , o r i d e a l l y exceeding expectations." Sharada Bhansali, executive vice president at AccountantsWorld, recom- mends keeping the following tips in mind when choosing a cloud solution: • Learn about all of the cloud solutions that are available for the services you ofer. • List all the challenges you currently f ac e i n you r pr ac t ic e , a nd t hen identify the cloud solutions that not only overcome the largest number of those challenges, but also ofer new capabilities that were not previously available. • Explore solutions that increase frm productivity through automation. Fully integrated cloud solutions can s t re a m l i ne pro c e s s e s t o ne v e r- before-possible levels. • Before the cloud, accountants were limited to using DI Y (Do-it-Your- sel f ) solut ions created for sma l l b u s i n e s s e s . B u t n o w , c l o u d accounting solutions created exclu- s i v e l y f o r a c c o u n t a n t s a l l o w accountants to ofer a full suite of services, including highly proftable pay rol l ser v ices, tai lored to each business client's needs. • Finally, make sure the solutions you choose let you ofer your clients the kind of advisory services that clients seek using real time data. "Research shows that by 2020, nearly 80 percent of small businesses will be fully adapted to the cloud, up from 37 percent in 2014. It's imperative that accounting professionals embrace the cloud and start using cloud solutions to ensure their long-term success," said McGinnis. It's one thing to make a decision to switch to cloud-based sofware. But what about the nuts and bolts of making the switch? Are there ways to make implementation and training staf and clients quick and painless? "We advise accounting professionals to dive right in - start the transition with one client at a time or beter yet transi- tion your own firm's software," said McGinnis. "By focusing on migrating clients one at a time, you can start with the least complex files to gain confi- dence using a new product and get a successful migration or two under your belt. As you gain confdence, you will be able to tackle more complex client set-ups and get to know, use, love and recommend solutions that f it the unique needs of those clients. Trough this experience, you have the opportu- nity to develop a playbook with pro- cesses and workflows to ensure a smooth and consistent transition for all your clients." Bhansali adds, "Te most important thing to remember is to start preparing for the migration well in advance. Don't wait until the last moment to plan, train staff, or notify clients. Starting early gives you the time you'll need to make the right choices to make your migra- tion easy and painless. If you wait until the end, you' ll go through all the migration pain without much gain." Once you've transitioned to a cloud-based platform, how do you know if you made the right decision and how do you ensure that you are geting the most out of your product choice? According to Bhansali, the easiest way to measure success is to determine how the cloud solutions you've selected have accomplished the following: • Increased your proftability • Reduced your workload • I ncreased cl ient satisfaction and retention • Improved the work environment in your frm "Accounting is shifing from compu- tation to consultation," said McGinnis. Terefore, as you adopt a cloud solu- tion, ask yourself how much time are you saving doing the computation work so that you can concentrate more on providing your clients with consultant services. Bringing the Cloud Down to Earth By Gail Perry, CPA, Editor-in-Chief F or people who are still on the fence about whether or not cloud-based technology can provide the best solutions for you, we asked some highly regarded tech- nology providers for advice. FEATURE October 2015 • www.CPAPracticeAdvisor.com 11 "RESEARCH SHOWS THAT BY 2020, NEARLY 80 PERCENT OF SMALL BUSINESSES WILL BE FULLY ADAPTED TO THE CLOUD, UP FROM 37 PERCENT IN 2014. IT'S IMPERATIVE THAT ACCOUNTING PROFESSIONALS EMBRACE THE CLOUD AND START USING CLOUD SOLUTIONS TO ENSURE THEIR LONG-TERM SUCCESS." JIM MCGINNIS, VICE PRESIDENT, ACCOUNTANT SEGMENT, INTUIT