The 2011 California Accounting and Business Show and Conference was held in Los Angeles last week and our Principal, Carol Kulencavich was asked to be part of the panel discussion about “What’s New In Accounting Technology.”
I had a chance to catch up with Carol after the conference and here’s what she had to say. (My questions are in bold type below.)
Technology’s role in the accounting business is growing by leaps and bounds. The two main products currently affecting change on our workflow are XCM Solutions and 1040SCAN. Both of these products are cloud based applications. Their impact on BCWS’ business has been dramatic.
Can you describe each product and their role in your workflow process?
· XCM Solutions - automated workflow software that manages all the jobs we work on from bookkeeping to tax to financial statements. The software provides real time information on the status of any task, allowing us to see at a glance who has ownership of a task, where it is in the cycle and how long it’s been in our office. It also provides accountability since it is used firm-wide.
· 1040SCAN – software scans all source documents and client tax organizers to be held in a single location. The information from these documents then populates our tax software (ProSystem Fx Tax) with data.
Has this increased proficiency added value for your customers?
· Absolutely! 1040SCAN allows us to be paperless, freeing our accountants to focus on maintaining strong client relationships.
· The increased automation of 1040SCAN has elevated our staff accountants to a review position. Not only is this cost-effective, it has boosted morale for the team during busy season by making them less stressed and more available to their clients.
· XCM has changed the way we manage – less time is spent on workflow and reporting, which frees us up to provide a deeper level of customer service to our clients. It has increased our efficiency and helped our firm be even more productive.
· With XCM, the change in workflow has reduced administrative overtime during busy season over our prior workflow software (PPC Tracker). Not only does this allow our team members to spend more quality time with their families.
· XCM allows our staff to be forward-thinkers by increasing their control over the planning cycle year-round.
· Additionally, these products free up our firm’s leadership to conduct higher-level reviews and work on special projects. All of this helps our clients grow their businesses.
Have these products changed anything for you personally?
“I don’t ever wake up in the middle of the night in a panic during busy season anymore,” she laughed. “Since XCM is in the Cloud, I can log in online and check the status of any job that might be worrying me.”
What else did you take away from the conference? Is there software you’d like to explore?
I’d like to look more deeply at Cloud computing. My take away from the panel is that the new technology will allow accountants to revisit client services, potentially taking on a greater variety of work and helping clients succeed in their business. These are exciting times for technology.
Below are some interesting links about the latest in accounting software:
What technology trends are having significant impact on your business?
No comments:
Post a Comment