Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/40356
Chris Farmand, CPA.CITP — 32 Managing Shareholder, Chris Farmand + Co Jacksonville, Florida Blog URL: www.apr16.com Twitter ID: twitter.com/cfarmand Education: B.A. University of Florida; MBA Univer- sity of North Florida Professional Associations/Memberships: AICPA, FICPA Hobbies: Swimming, Running, Cycling, Camping What are some ways your firm/business has gone "paperless" and/or "green" in the last two years? We eliminated the printing of tax returns and introduced client portals. While this may seem a given, this was a big step for most of our clients. We streamlined our DMS hierarchy to easily file client records, emails and notices. Most work is done on multiple screens, allowing us to avoid the printing of supporting docs. Our office does not have a copy machine; I chuckle when the copier sales guy drops in. Do you embrace cloud computing? Our "Cloud 4" services integrate SaaS systems for the most important parts of the back office accounting process: A/P, A/R, HR and GL. I am about to roll out a cloud-based DMS for all my clients to use and connect with us. How is cloud computing changing the accounting profession, and how concerned are you with the security issues related to cloud computing? Cloud computing is making the office space obsolete. The offerings out there are incredible for the technology tolerant. Being able to access records, pay bills, record A/R, and do payroll from anywhere is an advantage to any business owner. Security is at the forefront when making the decision to jump up to the cloud. Due dili- gence is necessary on the providers I work with to ensure they are up to security and backup standards. Do you foresee the majority of firms still implementing servers for the majority of their computing in their offices five years from now or do you think they will be outsourcing this component to vendors who specialize in this area? I am on the fence here regarding most firms' jump to the cloud. In the area of tax, I do believe people will remain in-house, on local servers. Tax work remains the "bread and butter" of many CPAs, and I don't think they are willing to lend that to the cloud. As for accounting, payroll, engagement, practice manage- ment and CRM; I sure hope so, but it's unlikely. I believe there will be a move, but the majorities are too busy dealing with workloads and unruly clients. Implementing the cloud takes vision, planning, and a well thought out action plan. Are you using social networking (such as Twitter, LinkedIn, Facebook, Google+) as a marketing tool for your practice … or do you use such sites for personal use only? What you call social networking, I call a resource center. Social Media (SM) relationships have been my single biggest resource since I have opened my own firm. I reach out to my SM peers for help with topics ranging from technology to complex tax issues. In addition to a resource center, I have made some friendships that should last a lifetime. I try and include my business in the social media arena when I can. I had almost given up on the idea that new business would come from social networking, until I got a call last week from a prospect who read an article I posted on my blog. It's exciting! What pitfalls or what unwritten rules of social net- working etiquette exist, which are frequently missed by others in the profession? The biggest pitfall I see is not embracing it. The only way I learned social networking was to try it, mess up and learn from my mistakes. Social media is uncharted territory for most CPA firms. Once I understood that most of my peers were out for the same thing — collaboration and learning — it became fun. Just go for it!! What ONE piece of technology could you absolutely not live without? Xerox Scanner, I kinda splurged on the scanner in my office. I knew it was going to be the link to a paperless world so I went big. Along with the scanner came a version of PaperPort, which easily connects to my network so we can route files where they need to go. NOT including your current employer, what company do you most admire and why? I recently read an article on the CEO of Tumblr. I was so intrigued by what he has developed, I went to their website and read the profiles of each of their employees. They have a very inspiring culture and office work ethic. The office is an open loft layout with each of the teams gathered together. He compares lunchtime to bees leaving the nest to gather pollen. They usually all return back to the office with food and eat together. What sports team/championship event do you absolutely refuse to miss? Florida Gators Football What are some of your favorite books, music, websites, and TV shows? Book: "Firm of the Future." Music: "The Format" channel on Pandora. Websites: Drudge Report, Amazon & YouTube. TV: All shows on Discovery and National Geographic channels Cell phone: HTC Thunderbolt from Verizon What is your favorite smartphone or tablet app? The Google Docs app. It is slick. In my opinion, Google's strong suit is not in the app world. Other than their email app, their proprietary apps are sub-par. But Docs is awesome! I rely on Google Docs for many business and personal "reminders." It works well for me. Monitors on your desk? Two. Other than SMS on your cell phone, what is your favorite way to IM with your friends, clients, and family? Gtalk, Skype, Facebook, Google+. I used to use Digbsy because it incorporated all the chat clients, but it was super buggy, so I now rely heavily on Gtalk. LITTLE TAX DEDUCTIONS All but 11 of the 40 Under 40 have children, with two being the most common. However, John Parsley has four (the same number of monitors on his desk). 39 Back to Contents Page 3