CPA Practice Advisor

DEC 2012

Today's Technology for Tomorrow's Firm.

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become solution experts. "Once everyone is up and running on a standardized system, it's easy to adopt uniform processes. It's also easy to help clients with issues because they are using the same applications." A defined process also put the firm Margaret Fisher (foreground) and Laura Redmond. accounting system they had in place. That meant we had to master a variety of solutions." Realizing the efficiency gains within her own office, Redmond knew she needed to apply the same model to her clients. It made sense to create a client solution set using the same applications she and her staff had mastered. "We offer a defined technology solution for our clients, which includes QuickBooks Online, Intuit Online Payroll, Bill.com, Method Integration, and Expensify. Based on need, clients can adopt the full set or select individual solutions. Because we use all of these applications in the firm, we can easily support clients with implementation. We also know clients will be highly productive because the system is streamlined." By taking control of the solutions clients use, it also put the firm in complete control of accounting work. With 24/7 online availability, Red- mond and her staff can access a client's data to correct errors at any time and control the flow of work. "If the accounting firm isn't in control of their clients' accounting… that spells trouble," stated Redmond. Redmond also knew that it was important for her and her staff to in control of pricing. When opera- tions are streamlined, efficiency goes through the roof. And when that happens, it's easier to create a pricing model that is based on the value of the service, not the billable hours. "We implemented a value pricing model last year. Built into our fee is the cost of licensing the soſtware, so clients are insulated from the added cost," Redmond explained. "Not having to explain extra fees always makes it easier to sell." No Resting on Laurels Redmond is proud of the progress she has made since launching her firm in 2005, but she's not resting on her laurels. "I'm constantly evaluating my firm and looking for ways to improve operations and our services." To date, Laura Redmond has been able to eliminate onsite client visits by transitioning to a Cloud platform. Tis enables her and her staff to pro- vide exceptionally convenient service to clients across the board. She also developed a standard solution set for clients, which means everyone is working the same way. And finally, a value pricing model simplifies client fees. An all-online (all-the-time) atti- tude, organized procedures, and an outsourced accounting model enable Redmond Accounting to operate at "well-oiled-machine" status. By applying the three O's, Redmond Accounting joins the ranks of our Great Practices. Kristy Short, Ed.D, is partner and Chief Marketing Officer in RootWorks LLC (RootWorks.com) and president of rwc360, LLC (rwc360.com)—firms dedicated to providing practice management education, branding, marketing, and public relations services to the accounting profession. She is also a professor of English and marketing. Reach her at kristy.short@cpapracticeadvisor.com. OUR STORY A business' financial transac- tions must be recorded in an organized and timely manner, its cash managed, receivables tracked and collected, employ- ees paid, assets monitored and vendors managed. Creating systems to manage these vital tasks are our specialty. Redmond Accounting offers a combination of accounting and software expertise, along with the personal understand- ing that comes with being part of the business commu- nity ourselves. Our paper- less, cloud-based solutions fit today's executives conducting business on the go. In addition to providing comprehensive cloud-based accounting processes, we pro- vide tools for delivering busi- ness intelligence. We make it simple to provide your tax and estate planning profession- als with the information they require. Redmond Account- ing adheres to a strict code of professional ethics and risk aversion practices to provide its small business clients with internal controls and high qual- ity results. If you'd like us to consider sharing your firm's story of innovation in a future issue, go to www.CPAPracticeAdvisor.com/ great-practices and complete the short form. We'd love to hear from you. For more information, please visit cpapracticeadvisor.com/10154797 December 2012 t www.CPAPracticeAdvisor.com 31

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