Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/667870
8 April 2016 • www.CPAPracticeAdvisor.com PRACTICE MANAGEMENT Reviews Practice Management Systems Offer Key to Competitiveness By Mary Girsch-Bock C an you imagine recruiting the brightest minds out of college and then placing them in an organization that ofers no structure, no organization, nor the tools to help them succeed? Chances are that those stellar employees would eventually fnd their way to your competitor's door- step, where they would likely be provided with the ability to reach or exceed their potential and not spend the majority of their time answering emails, fling contracts, and joting every moment of their time on a standard timesheet, or worse yet, sticky notes. Today, even the smallest frms have seen the benefts provided by having a solid practice management solution in their ofce. Time and expense tracking is the backbone of good practice management sofware, and the products reviewed in this issue make it easy for frm employees to track time and their related expenses, and provide frms with the tools to do so. Te availability of multiple system timers and intuitive interfaces frequently make it easier to record time than to NOT record it. Solid timekeeping capability benefts frm managers and partners as well. Instead of wondering how produc- tive 'John' has been in the last few weeks, a quick visit to their practice management sofware would quickly answer that question, and many more. While time and expense tracking may be the back- bone of practice management, related modules like project management, employee management, fnancial management and CRM capability can make the system that much stronger. Tese tools allow partners and managers to look at the productivity and efciency of the entire operation, not just an employee. In this issue, when reviewing these products, we looked at six diferent areas. Tey include: Basic System Functions – In this section, we take a look at the program structure, what are some of the typical functions the product can perform, if it's on premise, SaaS, or cloud-based and how user-friendly system navigation and data entry screens are. Time Management – Te core of practice manage- ment, we look at the various means the product uses to capture and record time and expenses. Does the system ofer multiple timers? Can they be used simul- taneously? Is there more than one type of time sheet to enter time on? Can managers schedule employee time, and can the employees track their own vacation, sick time or PTO? Invoicing Functions – Here we looked at how easy it was for users to process invoices. Can the invoices be created directly from the time entry screen? Could invoices be emailed directly to clients? Are the invoices customizable? Management Features – Management features can be an important asset to frm partners and managers. In this area, we look at the availability of dashboard, employee scheduling, workfow solutions, CRM capability, and reporting capability. Are reports customizable? Can they be exported in a variety of formats? What additional features are available that can be added to the core product to increase functionality? Integration and Data Management – Is the prod- uct part of a suite of products? Do all of the products integrate for greater product efciency? We also look at outside integration capability and the ability of the product to integrate with third party applications such as QuickBooks or Microsof Ofce. We also look at the availability of mobile apps that allow of-site employees to track their time as efectively as those in the ofce. Help/Support/Training – In this area we looked at help functionality that was found in the product, as well as any additional tools that are helpful to new users, including training videos, product overviews, webinars, and an efective knowledgebase for new product users to utilize. We also looked at various product support options, as well as additional training options. Whether you're a small frm, employee thousands, or are somewhere in between, the practice management products are designed with the needs of your frm in mind. Many of the products ofer free online product demos, which are ideal for trying out a product prior to purchasing. BASIC SYSTEM FUNCTIONS TIME MANAGEMENT INVOICING MANAGEMENT FEATURES INTEGRATION & DATA MANAGEMENT HELP/ SUPPORT OVERALL RATING AccountantsWorld Practice Relief CCH Axcess CCH ProSystem fx Commercial Logic APS Commercial Logic PowerPM OffceTools WorkSpace TaxWorkFlow Thomson Reuters Practice CS WSG Systems Xero Partner Program Mary Girsch-Bock Mary Girsch-Bock began her career as an accountant in the property management and healthcare industries. She is now a feelance writer specializing in business and technology issues and is the author of her frst book, several HR handbooks, training manuals, and other in-house publications. She can be reached at mary.girschbock@cpapracticeadvisor.com .