Using Technology to Cut Costs

Source: Public Practice E-News

The following summary utilizes excerpts reproduced with permission from Texas Society of Certified Public Accountants.

Areas where firms can target cost savings:

Renegotiate:
Now is the time to take a look at the cost of IT services such as Internet Broadband, Digital Cellular, and monthly maintenance contracts from network support providers. The firm should also look at service providers such as payroll processing and ask peer accounting firms about market rates on software maintenance contracts.

Eliminate Unnecessary Licenses:
Firms oftentimes do not need redundancy in applications such as research and forms and may not need the same number of licenses if they downsize staff. Firms that have completed mergers tend to have duplication of licenses with different vendors, so now is the time to push to a single firm standard for these types of applications and to look at web-based services that can reduce license counts or provide them through shared web applications.

Evaluate Services vs. Servers:
With today's virtualized server environment, a number of servers can be consolidated into one box. Also look at whether the entire application can be outsourced to a web-provider.

Promote Remote Access and Connectivity:
Remote access tools such as Windows Terminal Server and Citrix, as well as individual remote workstation tools (XP Remote, LogMeIn, GoToMyPC), will allow accountants to work from any location that has a computer and Internet access. Smart phones and digital cellular air cards will provide connectivity. In addition, web-based services such as portals will allow firm personnel, and even clients, to access and transfer files, which not only reduces delivery time, but eliminates the costs associated with moving paper documents physically.

For the complete article, click here and read "2009 Accounting Technology Trends in a Questionable Economy." Use "Technology."

From Public Practice E-News, Texas Society of Certified Public Accountants, July/August 2009, http://www.tscpa.org/.