Managing legal and regulatory change, the challenges of rising client expectations and mounting fee pressure has become a way of life for tax and accounting professionals.
The right software can undoubtedly help you meet these challenges and exploit new opportunities, but today’s problems can’t be solved by yesterday’s IT solutions and many practices have not changed their basic software for many years.
A lot of firms may have been using the same software suite for a decade or more. Although the compliance side of things has been kept up to date, the underlying architecture, the user experience and the way in which the software allows the practice to use data and interact with its clients may have often remained static.
The business context in which these practices now operate has changed dramatically in the last 10 to 15 years and this can lead to losing your competitive edge. It’s a great time for many firms to review their technology choices.
To help kick off this process, we have recently launched an interactive online tool. Based on the metaphor of a “fitness test” for practice software, it uses responses from 11 simple, multiple-choice questions to give an overall benchmark score and personal recommendations.
Whilst at face value, we’ve kept it light-hearted, our Future-Fit Practice Gym has a serious purpose. We want accountancy firms to raise their expectations and make sure the software they use is fit for purpose. Our Future-Fit test highlights areas where software is often deficient – these are real-life issues that our own customers have brought to our attention.
Of course, no one can predict what the future will hold for the accountancy profession but one thing is certain: those who plan ahead will be in a better position than those who cling to the past. And the best time to start that process is right now.
Want to know more?
Try the Future-Fit Practice Gym for yourself at www.cchifirm.com.au/futurefit
Krista Moore | Director, Marketing and Communications, APAC, Wolters Kluwer
With two decades’ experience in transformational technologies, Krista today leads a team of marketing professionals charged with empowering accounting firms to maximise technology and business outcomes.