Cloud technology is revolutionizing the accounting industry and the role of the accountants and consultants. 70% of businesses want their CPAs to help them plan and implement technology changes in their business in addition to the traditional services their CPAs already offer them. Ironically, the same number also said that their CPAs do NOT want to proactively help them! When you think about the typical client, considering their staff’s skills in the area of accounting software, systems, and technology, wouldn’t their CPA be the best person for the client to turn to for the best and most trusted advice?
The evolution of cloud technology like Bill.com has brought a tremendous opportunity for accountants and consultants to differentiate their practice in the marketplace, increase the value of their services and enhance their position as a true trusted business advisor.
To be a true trusted business advisor means being a leader. And, being a leader comes with great responsibility. CPAs must lead their clients to help them plan and implement the best solutions for their business and help them evaluate their entire business ecosystem. An infrastructure that includes accounting, add-ons, the web store, the payment gateways, the online payroll, the remote timesheet data entry, and any other LAN or web-based applications that feed data to the back end accounting system.
So, are you a true trusted business advisor?
Consider these questions:
- Who is the best person to help make the right technology decisions for the client?
- Who knows more about the available solutions in the market?
- Who is the best judge of how appropriate each solution is for the client’s business?
- Who has the depth of understanding of your client’s businesses functions?
- Who knows the most about how their workflows affect and are affected by software solutions?
- Who has most knowledge and skills in accounting, software, and how to ensure the overall system accurately serves the needs of the business?
The answer to all of the above questions must be you, their trusted advisor.
Accounting professionals who have embraced cloud technologies are now experiencing significant competitive advantages by providing deeper levels of consulting services to their clients including;
- Anytime, anywhere access to information
- Collaborative accounting services that allow us to spread tax season out over the whole 12 months of the year
- Mobile device integration into business processes
- Compliance – focused services
- Increased security
- Real time audit trails
- Lower risk of information manipulation and fraud
Cloud technologies like Bill.com can create a dramatic change in the way you and your clients do business. This change provides the accounting professional with an array of opportunities to move from being simply an accountant to being a trusted advisor, but only if you understand and embrace these new ways of doing business. If you want to become that trusted advisor, now is the time to make use of the innovated technologies, to collaborate with the ways of today and the wisdom of yesterday.