Some industries have been completely transformed by technological advances in the last decade. Take accounting for example. New digital technologies have accelerated processes that were famous for being tedious and stressful. From how sensitive data is managed and shared, to the way CPAs collaborate with clients in a timely matter, technology is at the center of a new accounting process.
Only 10 years ago, businesses had to send physical carton boxes full of receipts and private data, which then had to be manually analyzed and entered into the proper CPA programs. Now, a variety of cloud-based platforms allow us to send and share private data in a secure and encrypted way with just a few clicks facilitating the bookkeeping process.
But with so many apps out there, it is tough to recognize the tools that are truly useful for CPA firms, so we decided to ask your peers: What is one cloud solution that’s impacted your accounting firm significantly in the past year?
Here is what they had to say:
“I have worked with numerous different CPA firms as an auditor and all of them use cloud computing extensively to streamline operations and enhance our clients’ experience working with us. The primary use of cloud computing in the audit world is through the utilization of a secure web-based portal where we can transmit encrypted files to our clients and vice-versa to enable us to work as efficiently as possible while being mindful of our role as caretakers of our clients’ sensitive financial information. For 2020, I am excited to work with a higher percentage of clients who use cloud-based platforms like Bill.com to streamline day-to-day operational activities.” Greg Rogers – Kevin P. Martin & Associates
“My Axcess Tax Software and CCH’s document management system. They also have an App, and I can access client information with ease at any time.” – Michelle Hughes CPA
“The one cloud solution that has transformed our firm the most, although we have had many, was utilizing Microsoft Office 365 and Azure to move our audit software and some network storage drives to the cloud (Sharepoint) allowing client deliverables to be streamlined. We no longer needed to be in the office to receive an update from the team, all work can now be done remotely. For 2020, we are moving the remaining network drives, billing system, and payment processing system to cloud / web-based programs.” – Christopher Nash – DeBiasi and Nash
“There are multiple solutions we use that are Cloud-based: Intuit’s QuickBooks Online and ProConnect Tax Online, Accountant World’s Cloud Cabinet and Payroll Relief. They add a tremendous amount of flexibility for our staff, the ability to work offsite, convenient access to data for our clients 24/7, not to mention a reduction in paper turnaround, reduction in IT maintenance costs, etc. ” – Olga Briggs – Lifetime Tax and Accounting
“We communicate with our tax clients using secure cloud storage to keep their tax info confidential and avoid email.” – Steve Hocheiser CPA
“There are multiple solutions we use that are Cloud-based: Intuit’s QuickBooks Online and ProConnect Tax Online, Accountant World’s Cloud Cabinet and Payroll Relief.They add tremendous amount of flexibility for our staff, the ability to work offsite, convenient access to data for our clients 24/7, not to mention a reduction in paper turnaround, reduction in IT maintenance costs, etc. “ Paul Falewicz, Succentrix Business Advisors
Regardless of a CPA firm’s size, the benefits of the cloud are considerable in saved time and costs. It enables workforce mobility, reduces the workload and it can streamline processes so that CPAs can spend more time on value-added activities instead of monotonous ones; it means more time to do what CPAs are best at – analyzing financials and helping businesses make smarter decisions moving forward.