3 Top Accounting Technology Trends for OKC CPAs

Having the right technology infrastructure in place is smart business. Therefore, it’s important as an Oklahoma-based CPA firm that you keep up with accounting technology trends for your benefit as well as for your clients.

 

 

 

 

 

Not only does technology boost your staff’s efficiency and productivity, but it keeps your firm’s data and your client’s data safe. Trying to stay on top of these ever-changing trends is a big responsibility, and one that you shouldn’t take lightly. However, how can you expect to keep up and still service your client’s accounting needs?

To make an informed decision and a smart investment in accounting technology trends, engaging the help of a trusted advisor, such as Emsco Solutions is your best bet. Who better to lean on than a company that’s in the trenches every day?

Let’s take a look at three current trends that should be on your radar screen.

1. Cloud-Based Systems – CPA firms today are making a move more towards cloud-based systems, also known as Software as a Service. This has created new ways to store and deliver client data and reports. While the business has much greater flexibility, as far as when and where its employees work, it has also eliminated many upgrades and maintenance issues with regards to the firm’s technology. CPA firms have seen time savings and money savings come from SaaS or Cloud-based systems. However, none of this should be taken lightly. In fact, it is a significant responsibility for the firm and its employees to properly manage and secure the client data in the Cloud.
2. Security Policies and Procedures – One trend leads to another! As employees work remotely, as well as use their own devices (BYOD – Bring Your Own Device), security policies and procedures are critical. Effective employee access rights need to be in place to control who is accessing what data. If you terminate an employee, you need to be able to shut their access off immediately. Keep in mind that many advantages of cloud computing can become risky if you do not manage them correctly.
3. Accounting Applications – Clients can enter their purchases and invoices into apps such as Sage One and QuickBooks Online and then allow their accountant access to the online portal. The days of clients making multitudes of paper copies and bringing them in bankers boxes to your office are over. In many ways, compiling data for tax returns has become much easier. Intuit has also added industry-specific desktop apps that can be added on to QuickBooks Online accounts to make it even more cohesive for your clients.

Accounting technology trends are changing the way CPAs are working with clients. Cloud-based systems allow CPAs to work remotely from the client’s home or office while still be able to access all the necessary data. With changes in how and where accountants work, new security measures are gaining traction. Clients are also able to enter data more easily and have their accountants access it more readily than ever before.

It’s important to keep a close eye on changes in the accounting industry as they can have an enormous impact on your business. Working with a knowledgeable technology partner is a step in the right direction.

 

Are there any accounting technology trends you see starting in your OKC CPA office? Please tell us about them in the Comments section below.

 

And to follow up on the tips introduced in this article, be sure to download your free Information Technology Guide for Oklahoma City CPAs.