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COVID-19 & Disruption Nov 10, 2020 5 min read

Preparing Accounting Firms
Against the COVID-19 Disruption

Turning the pandemic disruption into an opportunity — how accounting firms can reinvent operations, manage remote teams, and harness the power of technology to thrive.

Work From Home Cloud Technology Firm Resilience

We hope you and your team are doing well. We are working hard to build tools that will help your business resume at its full capacity of excellence, as soon as the pandemic settles. The visionary operators in the Accounting Services business already knew that the industry was up for disruption. Enterprise Technology loaded with automation and analytics was changing the way we added value to the business of our clients.

The onset of this pandemic has just accelerated that adoption process. Now, more than ever, integrating technology into our business processes has become an imperative need.

Key Insight

COVID-19 didn't create the need for accounting automation — it simply removed all remaining excuses for delaying it. Firms that acted quickly on technology adoption emerged from the disruption stronger than before.

Work from Home — A Challenge That Can Be Turned into an Opportunity

The Work from Home culture began as a workaround to implement social distancing. On the face of it, WFH did not seem like a great alternative — teams felt disoriented, fatigued, and distracted. But leading accounting firms are seeing this as an opportunity to reinvent their business.

If the firm can be managed with lesser resources and more flexible Work from Home policies, efficient operations are highly achievable. This is a great time to test your plans for remote working and productivity management, so you may scale them when the situation improves in the very near future.

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What Should You Manage for Maximum Value-Creation as an Accounting Firm?

No matter how complex it may seem, all major accounting firms derive their success with some optimization between six core areas of business operations. Many of these areas have been disrupted because of social distancing and remote working. The work culture in each office is different. But, eventually, every firm will have to adapt, reflect, and improve.

Resources
Manage team capacity, assignments, and productivity remotely.
Clients
Maintain strong client relationships through digital channels.
Work Processes
Automate and standardize workflows for seamless execution.
Communication
Enable clear, structured communication across distributed teams.
Documents
Centralise document management with secure cloud access.
Finance
Track billing, invoicing, and financial performance in real time.

We have been producing value for Accounting Firms by providing adaptive and automated enterprise management tools for the past decade. In the last few weeks, the number of queries we saw has grown by over 4x. It gives us immense pleasure in knowing that firms, like yours, are choosing us to be their technology partners as they sail through these tough times.

Our CA Office Automation systems empower teams and business operators to manage Resources, Clients, Work Processes, Communication, Documents, and Finance — while maintaining social distancing or even working remotely. All features are available on our mobile app and our cloud platform.

"If you want to harness the challenge of this pandemic to reinvent the way you run your accounting firm and want a proven technological solution to help you with it, please feel free to get in touch with our team."
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Sources & Further Reading

  1. 1 AICPA-CIMAPCPS CPA Firm Top Issues Survey — Biennial report on the most pressing operational and strategic challenges facing CPA and accounting firms.
  2. 2 Deloitte InsightsGlobal Millennial Survey — Research on workforce attitudes to remote work, technology adoption, and the future of professional service delivery.
  3. 3 McKinsey Global InstituteThe Future of Work After COVID-19 — Analysis of remote work potential, automation acceleration, and workforce shifts across industries.
  4. 4 Journal of AccountancyAccounting Technology & Practice Management — Articles on practice operations, billing models, and technology adoption for CPA firms.