november2021 - 10

FEATURE
Modernizing Outdated Areas of Your Firm
- What to Know By Shahram Zarshenas
GIVEN THE RAPID speed at which companies are
evolving, you may feel pressured to overhaul your
practice and modernize it. Fortunately, it's not as
complicated as it looks, thanks to CPA firm management
solutions that are all available online. By going
paperless, using project management for accountants,
and looking for novel ways to handle your
clients and staff, you'll be on the way to improving
your processes and increasing your efficiency.
Modernizing your firm holds
many benefits. For instance, when
your clients have a consistently
positive experience with your firm,
it's more likely they'll return and
continue paying for your services.
They'll even share the top-notch
service they received from you and
recommend you to their network,
expanding your client base even
more. As the goal of modernizing
is to optimize your processes and
improve efficiency, your team and
clients alike will benefit.
Here's what you need to know
about modernizing outdated areas
of your firm:
OPTIMIZING CLIENT
COMMUNICATION
You've likely had to wait on your
client to send you necessary documents
at some point, consisting of
seemingly endless emails, phone
calls, and hours spent looking for
papers that you've put away. As a
result, you'll have to hit the pause
button on your client's case each
time you require more information
from them, particularly when their
schedule doesn't correspond to your
office hours.
Fortunately, using software
designed specifically for CPA CRM or
customer relationship management
can do wonders for this aspect. You
can securely send each other notes,
requests,
files, and questions,
which means you won't risk having
unanswered emails in your inbox.
Using CRM software also comes
with increased client transparency
since your clients can track their
case's progress even when you aren't
constantly communicating updates.
Additionally, with better proactive
firm management technologies and
processes, you can also increase
your cash flow by offering online
payment through the portal, ensuring
punctual payments.
IMPROVING
DOCUMENTATION
STORAGE
Every accounting firm is familiar
with wrangling dozens of tabs and
multiple programs running at once
on the computer. You probably
have drawers full to the brim with
paper clips and staplers, and your
file cabinets are bursting to the
seams with copies upon copies of
documents. Not only is this a storage
nightmare, but it's also expensive,
as you'll keep having to purchase
10 NOVEMBER 2021 ■ www.CPAPracticeAdvisor.com
paper to maintain your document
storage system.
Luckily, modernizing this area
will not only cut costs but improve
efficiency. Going paperless is another
benefit of using CPA firm management
to store your documents on the
cloud, which means you don't have
to dive through stacks of paper to
find the information you need. You
can access this data any time, anywhere,
as long as you and your team
have a strong Internet connection.
Since the cloud updates real-time,
you don't have to worry about sifting
through many versions of the
same document; the latest version
is always the one you'll access.
ENHANCING CLIENT
INFORMATION
MANAGEMENT
As someone running an accounting
firm, you deal with a large amount
of client
information.
It can be
incredibly overwhelming at such
high volumes, especially when you
have to contact clients constantly to
get their information. Fortunately,
modernizing your firm involves
improving this process and making
it more efficient.
For example, you can use a
digital client organizer or a survey,
which takes the tedious work out
of collecting their information. You
won't risk irritating your client by
asking redundant or irrelevant questions,
and you'll have only the most
important data you need. With CPA
firm management solutions, you can
also maintain a current contact list
containing only accurate and up-todate
information about your clients.
CONCLUSION
Upgrading your firm's technology
stack will produce enormous benefits
for your staff and clients. Apart
from eliminating some expenses,
thereby increasing your savings,
you'll also be processing requests
more expeditiously. By modernizing
your firm, you'll be well on the way
to becoming the most competitive
practice in your area. ■
As the CEO of Financial Cents, Shahram
Zarshenas spends his time
helping accountants get
visibility across their firm to
prevent things from falling
through the cracks. Prior to
Financial Cents, he founded an investment
banking firm that helped software
companies scale and exit their business.
http://www.CPAPracticeAdvisor.com

november2021

Table of Contents for the Digital Edition of november2021

From the Editor: CPE for Free at Ensuring Success
Quick Networking Tips Your Can Implement Today
Technology: A Critical Driver of M&A Synergy
How to Better Manage and Track Your CPE Credits
How to Find the Right Buyer for an Accounting Firm
Modernizing Outdated Areas of Your Accounting Firm
Marketing Your Firm: How to Create a Press Kit if Your Firm Acquires or Merges into Another
From the Trenches: Continuous Education to Meet Technology Changes
The ProAdvisor Spotlight: Productivity Innovations Announced at QuickBooks Connect 2021
The Leadership Advisor: Self-Care for Busy Accountants
The Labor Law Advisor: The Pandemic: Unforseen Events and Unforced Errors
The Millennial Advisor: Every Action Matters
The Staffing & HR Advisor: Staying Ahead of the Curve: What's New in Accounting for 2022?
Apps We Love: Lifestyle Apps
Trust & Empowerment: Two Keys to Emerging Unscathed from the Great Resignation
AICPA News: A round up of recent association news and events
Bridging the Gap: 5 Growth Trends for 2022
november2021 - 1
november2021 - 2
november2021 - 3
november2021 - From the Editor: CPE for Free at Ensuring Success
november2021 - Quick Networking Tips Your Can Implement Today
november2021 - Technology: A Critical Driver of M&A Synergy
november2021 - How to Better Manage and Track Your CPE Credits
november2021 - How to Find the Right Buyer for an Accounting Firm
november2021 - 9
november2021 - Modernizing Outdated Areas of Your Accounting Firm
november2021 - Marketing Your Firm: How to Create a Press Kit if Your Firm Acquires or Merges into Another
november2021 - From the Trenches: Continuous Education to Meet Technology Changes
november2021 - 13
november2021 - The ProAdvisor Spotlight: Productivity Innovations Announced at QuickBooks Connect 2021
november2021 - The Leadership Advisor: Self-Care for Busy Accountants
november2021 - The Labor Law Advisor: The Pandemic: Unforseen Events and Unforced Errors
november2021 - The Millennial Advisor: Every Action Matters
november2021 - The Staffing & HR Advisor: Staying Ahead of the Curve: What's New in Accounting for 2022?
november2021 - Apps We Love: Lifestyle Apps
november2021 - Trust & Empowerment: Two Keys to Emerging Unscathed from the Great Resignation
november2021 - 21
november2021 - AICPA News: A round up of recent association news and events
november2021 - Bridging the Gap: 5 Growth Trends for 2022
november2021 - 24
https://www.nxtbook.com/endeavor/cpapracticeadvisor/august2022
https://www.nxtbook.com/endeavor/cpapracticeadvisor/june2022
https://www.nxtbook.com/endeavor/cpapracticeadvisor/april2022
https://www.nxtbook.com/endeavor/cpapracticeadvisor/december2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/november2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/october2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/september2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/august2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/july2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/june2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/may2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/april2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/march2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/february2021
https://www.nxtbook.com/endeavor/cpapracticeadvisor/december2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_November_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/october2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/september2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/august2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_July_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_June_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/may2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_April_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_March_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/february2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/december2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/november2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/october2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/september2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/august2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/july2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/june2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/may2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/april2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/march2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/february2019
https://www.nxtbookmedia.com