For large or small firms, the challenges are similar… but new technologies will help us prevail
As we talk with accounting firms throughout the U.S., large and small, we find that regardless of size, most are facing the same set of challenges right now: COVID-19, managing a remote workforce and remote clients. The government “stutter” on tax deadlines and new and evolving rules around PPP loan applications are leading to numerous cycles of messaging and phone calls with clients. While the high needs increase the dependence and need for trusted accounting advisors, the emergency-driven requirements are also leaving lost time and diminished profitability in their wake.
According to Brandon Allfrey, a partner for Squire Company, a leading regional firm with several hundred employees, the current challenges are beyond the function of moving clients to a cloud-based engagement, which existed even before the current season of COVID.
As firms evolve their own technology, they’re also needing to be patient with clients that are facing their own technology challenges around secure remote access to files and data. In the case of Squire, Allfrey says, the company faced the need to navigate around dozens of disparate systems that had found their way into the company over the years.Read More