What Are CPAs Shopping Now?
Pransform exhibited at the highly successful 2012 Accounting Technology New York Show & Conference on May 1-2, 2012. Several CPAs met Pransform at the show – they all came in – sole practitioners, small firms (1-5 employees) and larger firms.
Here is a quick take from our discussions with them.
The top three things CPAs are looking for:
CPAs certainly want to be on cloud – away from “managing” the technological infrastructure – to just creating benefits from technology. And the major factor behind this desire is : mobility – freedom from “location”. Accountants surely want to be omnipresent.
CPAs also want more automated cloud based applications – just one or two is not enough – they don’t want the hassle of managing something on the cloud and something on-premise and at the same time they want more integrated “suite” of applications. Going are the days where CPAs bought off the shelf products and entered same data multiple times in multiple softwares.
2. Client Service Technology:
Call them portals, call then electronic file cabinets – the social media impact is evident on the service delivery choices CPAs are making. “Sharing” is so easy with social media and CPAs are looking for that ease in sharing information and documents with clients. But a major difference is the “data security” that is so ingrained with CPA business. Secure systems that make client service delivery easy and economical are top of the mind with most CPAs.
Technological innovation in cell phone and tablet computers is making consumption of information literally by using fingertips. CPAs now want instant information availability – anytime anywhere, irrespective of which device they use. Notice the emphasis on information availability. Technology and devices are just enablers. The ability to satisfy client needs faster than others will be a marketing leverage for CPAs.
3. Growth Enablers:
Productivity and efficiency gains, cost reduction, marketing leverage, de-commoditizing, ability to provide premium services with higher pricing – and attracting new clients – CPAs are looking for growth models for the future. Technology has enabled great service innovationbut it has also made clients self-sufficient – to an extent – and firms are certainly looking to change their business models – strategies that will create bottom line improvement by both – internal savings as well as through additions to topline – it’s an all out, all pervasive, firm-wide revitalization that is the “undercurrent” we felt conspicuously.
What are you looking to do at your firm?