How CPA Firm Technology Increases Profitability: Feedback from MPs

One of the Managing Partner’s critical duties is to ensure that the firm’s usage of technology has the greatest possible impact on efficiency and profitability.

We recently polled MPs from 28 CPA firms across the country for input as to how this is best accomplished. Following are some of the highlights from their responses:

Seek out national CPA industry technology experts.  This was the most-often-cited technique practiced by our MP group.  “These consultants offer an objective view of our IT function that no one else in our firm can provide,” one respondent stated.

Make the IT director an integral part of the management team.  “We want them to take a firm-wide view on keeping our people working as efficiently as possible.” Another advised:  “Get IT personnel engaged in benchmarking with other firms to discover best IT practices.”

One MP recommended setting at least one effectiveness and efficiency goal for the IT director, with the evaluation based on responses of the firm’s personnel.  Another commented:  “If your IT director is not an articulate, credible member of the management team, then you probably don’t have the right person for the job.”

Regularly obtain the input of a cross-section of firm personnel on the state and direction of the firm’s technology.  “I listen to the staff that uses technology to do their work.  They have greater knowledge of IT than I do.  If they are frustrated or losing efficiency, I want to know about it and respond quickly.”

Observe best practices from other firms in our association or roundtable group. 

Ensure efficiency of personnel in the field.  “We provide them with remote work capabilities, laptops that are less than 3 years old, scanners and extra monitors and high speed internet connections.”

Be a role model.  “As MP, I show our personnel that I personally use all aspects of our firm’s technology to make me efficient.  I work with our people to overcome resistance to change.”

A complete executive summary of MP responses to this survey is incorporated in my Forward to Roman Kepczyk’s 2014 edition of Quantum of Paperless, A Partner’s Guide to Accounting Firm Optimization.