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2009 Review of Practice Management Programs

In Search of Productivity Perfection... Or at least Improvement

From the June 2009 Issue

Imagine a world in which everything ran smoothly. Where clients brought all
of their documents at the same time (or better, sent them in digital format).
Where every second of billable time was not only accounted for, but actually
billed to a client. Where logjams of client work never occurred …

We don’t live in this fairy tale world, of course, and no professional
practice has ever achieved this model of perfection. But some do come closer
than others. As the old saying goes, “Work smarter, not harder,”
and even our own Productivity Survey demonstrates that partners at the top earning
firms actually work fewer hours each year because they run their practices more
intelligently. Not that the others are errant, but the most successful firms,
large or small, are those that are more aware of their productivity and implement
strategies to enhance it.

The challenge, of course, is that as a firm’s staff size grows, services
broaden or clients grow increasingly more complex, it is more difficult for
management to be aware of all of the issues that affect practice productivity.
To aid in this challenge are two genres of software: Practice Management and
Time and Billing programs. This review section looks at practice management
systems. Our October 2009 issue is scheduled to cover time and billing systems
(or you can check out last year’s review of time and billing systems at

While there is not a definitive line separating the two, practice management
programs include time and billing functions and generally go further, with options
for analyzing productivity by client, staff, workgroup and even firm-wide. Many
also include enhanced project management tools, greater contact management features,
email and scheduling integration with Outlook, and options for document management
and web-based client portals. A few even help track client prospects and offer
additional firm marketing functions.

course, there is yet another challenge that practices face when considering
how to best manage these processes: It is often hard to find the time to devote
to practice management, especially in a small firm with only a few staff. For
these small tax and accounting shops, I would generally recommend time and billing
software, which provides a straightforward entry way into greater accountability
and increasing control over billable time. Some of these programs offer additional
productivity-focused tools, as well, which can aid in management.

But as a practice grows, it is more likely to spend more time and resources
addressing workflow and productivity issues. Practice management systems can
help these firms maintain the greater efficiency, despite growing internal bureaucracies,
review processes and projects involving multiple staff collaboration. At this
point, a specialized practice management system, effectively implemented firm-wide,
and properly and reliably used, is a necessity. I consider practice management
and time and billing programs akin to the need for auto mechanics:

  • If you never maintain your car, it might last you a couple of years as
    you run it into the ground. If you don’t keep your practice adequately
    maintained, the same will happen.
  • If you use your car for routine matters, then visiting a mechanic periodically
    is sufficient. For smaller firms, the minimum recommended maintenance is a
    time and billing program.
  • But if you manage a race team, you must have a mechanic on staff full time.
    These are the larger firms who, without a dedicated practice management system,
    will see their productivity and competitiveness suffer without full-time attention
    to workflow and business processes.

Practice management is much more than just managing time and client billing,
it is the cornerstone of successful professional firms. And while enhancing
productivity is on your mind, you might also want to check out our article about
workflow optimization from our September 2008 issue (www.CPATech

– – – – – – – – – – – – – – – – – – – – – – – – – – –

CaseWare International Inc.
– Time 2009
CaseWare’s Time 2009 is the core time and
billing program from CaseWare, offering comprehensive capabilities for
these functions, along with integrated contact management, project management
and integration with the company’s Working Papers and IDEA system
for GL and audit functions.
CCH, a Wolters Kluwer business
– ProSystem fx Practice Management
CCH’s ProSystem fx Suite of professional
tax, research, accounting and engagement management programs is one of
the most comprehensive on the market, providing total integration between
virtually all programs that a professional firm uses for client services
or internal management.
Commercial Logic, Inc. – APS
Advance Practice Management
SIDEBAR: A new practice management option for professional
accounting firms is the APS Advance Practice Management system, part of
the APS Suite just introduced in April to the U.S. market by Commercial
Logic, Inc (CLI).

LexisNexis – Time Matters
Originally developed for legal professionals, LexisNexis
also offers Time Matters in versions for accounting firms and other professionals,
providing a centralized practice management system that offers time and
expense tracking, scheduling, contact management communications tools,
due date monitoring, project management, invoicing, research, document
management and other functions.
Office Tools Professional 2009
Office Tools Professional 2009 is the latest version
of this vendor’s practice management system, which is offered in
industry-specific versions for CPAs, tax practices and other types of
professional service providers. The program provides a wealth of features,
including full contact management with Outlook and QuickBooks integration.
Thomson Reuters – Practice CS
Practice CS from Thomson Reuters is a comprehensive
system that provides modules for time and billing, advanced client management,
project and staff management, and analysis tools. The SQL Server-based
application is an integrated part of the Thomson Reuters CS Professional
Suite, which includes a broad collection of programs and tools specifically
designed for public accounting firms.

2009 Review of Practice Management Systems — Comparison



See inside June 2009 issue

2009 Review of Small Business Accounting Systems: Tier II (Programs Over $1,000)

One Size Does Not Fit All: Client Accounting Systems Offer Varied Functions


Helping Small Business Clients Work Smarter

Feature: Small Business Specialty Products Specialty Tech Tools Can Increase Productivity & Save Precious Time