5 reasons to re-evaluate your accounting software

Time is running out for accountants to fix software problems or integrate new accounting technology before tax season really begins.

Despite the benefits that automation and today’s technology bring, launching software without thinking about every problem you face is not the solution. Make sure to assess your situation, verify vendors, and focus on integration and usability.

To help with this cause, here are the top five reasons why it’s time to re-evaluate your accounting software:

1. Staff complaints

Don’t assume chronically missed deadlines are due to poor employee time management. Inefficiencies with current software may be the root cause. Listen to employees if they claim the software is time consuming or difficult to use.

Throughout tax season, your employees will interact with the software for countless hours. Your employees are the experts on your business needs and whether the software solutions you currently have meet those needs. The busy season is stressful enough for CPAs; there is no need to add the stress factor of hard to use or inefficient software.

2. Lack of efficiency

If implemented correctly, software solutions should increase efficiency by reducing the time spent on mundane tasks. Digitization allows CPAs to minimize incomplete records and lost receipts as records are retained as they arise, helping to maintain high standards.

In addition, software solutions can change and improve customer relationship because files can easily be shared with customers. When CPAs can spend less time on low value-added actions such as manual processes, they can focus on providing value-added consulting services.

3. Heavy reliance on spreadsheets

Human error to some extent is inevitable, but excessive reliance on spreadsheets increases its likelihood. Using large-volume spreadsheets is a sign that your software is not adequately meeting the needs of CPAs. Today’s software can dramatically reduce the amount of manual spreadsheet work. Unlike spreadsheets, specialized software can quickly spot potential data entry errors by revealing anomalies in tax calculation early in the process, ensuring more successful tax returns and reducing the risk of tax errors. calculation.

4. Obsolete systems

There are many issues that can arise from old software, including poor customer support, integration issues with new applications, and a lack of critical security updates. Particularly in these times of heightened cybersecurity attacks, CPA firms need systems in place to ensure compliance and protection.

Cybersecurity is just a concern of outdated systems. A lack of customer support can leave you in the dark about a damaging issue, and older systems often cannot integrate seamlessly with newer applications your business may be using.

5. Lack of mobility

In today’s hybrid work environment, CPAs need to access digital files from anywhere, anytime, and on any device. Integration in the cloud enables mobility without the need for large investments in infrastructure.

CPA firms can also leverage the cloud to foster a more inclusive work environment. The flexibility possible with cloud software allows CPAs to do their jobs at times that suit their lifestyle, fostering a healthy culture with a work-life balance.

How to choose what’s best for your business

If any of the above interests you, the next step is to choose a service provider that will integrate easily with your current systems. When selecting a supplier, some key aspects should be taken into account:

Friendliness – Understand the average technical capacity of CPAs in your business, then choose a solution that requires technical knowledge comparable to your business’s capacity without compromising on features and functionality. This is essential to avoid long periods of time spent figuring out how to use basic software functions, complicating the onboarding process.

Easy integration – As the use of third-party applications increases, it is essential to choose a solution provider that will integrate seamlessly with the third-party systems already in use. Some service providers offer a wide range of third-party app integrations, while others only offer a few. To avoid a complete overhaul of all systems, it is essential to ensure third-party integration.

Scalability – While solution providers can meet your company’s current business needs, make sure that the solution can evolve as your business grows. Technology integration can be a great tool for business growth, but as you grow it can be very costly to constantly have to change vendors as they can no longer support the size of your business.

Security – Software has come a long way in terms of security, but ransomware attacks and hackers pose a threat to cloud technology. To maintain customer trust, it is essential to ensure the integrity of customer data. Investigate potential service providers by asking questions about their cybersecurity and make sure that they are a reliable and reputable provider.

Every accounting firm has different needs and there is no one-size-fits-all solution. Analyze your business needs and carefully compare vendors to make sure your business can make the most of the benefits cloud technology has to offer.

Generate value from new software

The software your business uses should empower and inspire accountants to work smarter, not harder. CPAs should continually evaluate their accounting software with clear focus and purpose and prioritize finding a solution that seamlessly adapts to changing client needs to achieve maximum benefits. .

Make sure your business regularly assesses employee feedback and replace outdated systems with software that improves efficiency, reduces reliance on spreadsheets, and can be used in mobile environments.

Adopting new, highly agile, secure, and mobile systems can bring a plethora of benefits to your business. As software reduces the time spent on mundane tasks, CPAs can focus on value-added customer services such as consulting.

Choosing a new supplier can strengthen operations and give customers increased transparency and confidence. Ultimately, it’s about generating greater value for your business customers and their businesses.