Keeping Up-to-Date on Technology

Source: Inside Public Accounting

IPA interviewed Roman Kepczyk, president of InfoTech Partners North America, Inc. ([email protected]). Here are the highlights:

• Microsoft Vista—Firms will generally not begin using it until May 2008. Costs for implementing it early will be high and include resolving problems with existing equipment (printers, scanners, and smart phones), and buying new workstations with adequate processors, RAM, and graphics capacity.
• Paperless systems—Firms are using paperless systems for trial balances, work programs, client documents, and financial statements at a very high rate.
• Major disappointment—Firms have learned that acquiring document management software does not make them paperless. They must first rework their systems.
• Trends:
  • A major trend will be integration of work-flow systems into tax preparation and document management, plus dashboards for practice management.
  • Knowledge management is about to become an exciting reality. Firms will start to comprehend integration of dissimilar data and make work-flow more effective using software like SharePoint.
• Common technology problems in accounting firms—There is a lack of training and underutilization of applications.
• Most frequently asked questions:
  • Have we employed the right people in technology? Most firms don’t have sufficient training resources. They also don’t have the ability to implement one-time projects. These generally have to be outsourced.
  • Are we headed in the right direction in terms of technology? Kepczyk says, “IT’s role is traditionally viewed as keeping the status quo as stable as possible, so it is critical to look beyond the current environment to understand whether the firm is on the right path.”
  • How do we stay on a stable path? Kepczyk says, “By understanding where the firm is today and what is on the stable edge, they can change procedures to move forward.”
  • What is the most important thing CPA firms need to do? They should understand that technology is a necessity for improving client service.

From Inside Public Accounting, May 2007, p. 4. The Platt Consulting Group (www.plattgroupllc.com). Subscription $369 per year; back issues—nonsubscribers $40. 317-733-1920.