A Successful Practice is Built on a Solid Foundation of Knowledge, Service and Technology

Our executive editor, Darren Root, CPA.CITP, speaks to thousands of accounting professionals each year, sharing his wisdom on how accounting firm owners can build more successful and profitable practices. The key is finding new ways to work more productively, of course. To do that requires constant evaluation and oversight of firm workflow and finding the right tools and best practices that meet the needs of the firm and its clients.

When the right combination is achieved, the results are profound. The AICPA’s bi-annual MAPS survey shows that partners at the most successful firms actually work fewer hours per year and earn more. Not billable hours, but total hours ... as much as a week or two less than partners in firms with lower revenue. That means that work-life balance is not only achievable, but it can be realized without sacrificing firm success or profit.

So, the secret isn’t working more or harder, but striving for more profitable engagements and better managing processes. While half of this equation is knowledge-based best practices, the other half is critically dependent upon finding the technologies that best fit an evolving firm’s workflow, and helping clients find technology that helps them in their work and in their interaction with the accounting firm.

With an overwhelming number of software and services for accounting firms and small businesses on the market, no professional can stay on top of all technologies that are available. That’s why we produce the Technology and Services Guide each year, providing a home base for finding the best tools for professional accountants and their business clients.

The guide features categorized listings for firm and client-side technologies and services. This is just one of the resources that CPA Practice Advisor and NSA Practice Advisor offers as your source for the technology information you need to help your clients and your own firm be more productive and profitable.

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