Free Report: Technology Transforms the Bottom Line

Cloud computing enables 24/7 communication
 
 
Top-performing accounting firms are using technology wisely to gain a competitive edge in the marketplace and optimize performance over the long haul — in good times and bad. That’s the bottom line, from a nationwide independent survey by Opinion Research Corporation that was commissioned by CCH, a Wolters Kluwer business. 
 
Most firms treat technology as essential to sustained growth. Critical measures include how the technology will enhance client service, boost staff productivity and aid in practice management. 
 
Some 84 percent of firms surveyed use return on investment (ROI) and total cost of ownership analytics to support technology decisions.   
 
Other key findings from the CCH 2009 Survey, Best Practices of High Performing Firms:
 
• High-performing firms support mobile workers. Some 25 percent report that they have professional staff working remotely, 75 percent support wireless laptops, and 60 percent support smartphones like the BlackBerry or iPhone. Equipping mobile workers boosts productivity and improves client service. 
 
• Paperless processing dominates. Approximately 75 percent of high performers already have a paperless strategy in place, and 52 percent have been paperless for at least three years. Nearly 90 percent of firms surveyed expect to be paperless in the next three years. 
 
• Cloud computing will have a profound effect. Software as a Service (SaaS), a form of cloud computing in which scalable resources are provided on demand over the Internet, is already in place at about 30 percent of firms, who now use one or more SaaS applications. That total is expected to reach 55 percent within the next three years.
 
• High-performing firms capture their institutional knowledge. A knowledge-management system gives all employees access to the insight and information needed to perform at their best. Today, 32 percent of firms have knowledge-management systems in place, and that is expected to exceed 50 percent in three years. 
 
The survey included quantitative interviews with 100 partners in the United States, firms ranging from five to more than 100 employees. To download a free whitepaper of the survey, click here.