CCH 2001 Executive Predictions & 2010 Year in Review

Since CCH introduced the new software as a service (SaaS) version of the ProSystem fx Suite in 2009, thousands of professionals have begun to benefit from using CCH’s best-in-process applications to enhance productivity and client service.

In addition to offering all of the benefits of mobility and portability that working in the cloud provides, CCH’s SaaS solutions are the only ones that also offer: centralized management and information with a common client database; an administration manager, with a central location to setup and maintain users, security and preferences, across the Suite; workflow and process improvements; customizable dashboards; improved user interfaces with a common look and feel across the Suite, improving ease of use; and enhanced integration, with open architecture and standard data exchange that will allow enhanced and simplified integration.

Professionals aren’t alone in embracing the new way of working that the cloud enables. Their clients are embracing it as well. We saw this trend through the rapid adoption and use of our new ProSystem fx Portal solution in 2010. In fact, we’ve never seen tax and accounting professionals adopt a solution as quickly as they have CCH’s Portal, with millions of uses in the first six months alone.

CCH’s IntelliConnect, also a cloud solution and an extension of our platform, is the gateway to the profession’s most comprehensive and authoritative research information and tools. In 2010, CCH continued to work closely with customers to add new features and functionality. IntelliConnect is the most agile and customer responsive research platform available today, and we’ll continue this commitment to build what our customers need. An example of this was CCH’s introduction of CCH Mobile™ in Q4, driven by our customers’ need to find the answers they want, wherever they are. Through CCH Mobile, IntelliConnect customers can now access tax research and tools in the palm of their hand, on the BlackBerry® and iPhone®. Furthering on the theme of mobility, we also introduced our most popular titles as eBooks.

This overview touches on a few of the important things CCH has done in 2010. We also continued to aggressively expand ProSystem fx Knowledge Coach, CCH’s risk-based audit workflow and management system, which was accepted by the prestigious AICPA’s National Peer Review Committee, and was also recognized by Accounting Today as the top audit product of the year.

Whether it’s delivering best-in-process solutions or getting to market faster with new products, applications and features our customers request, CCH is committed to our customers’ success. It’s in our DNA, and it’s why tax professionals have trusted CCH for nearly 100 years — they know they can count on us to deliver. As we look to 2011, exceeding our customer expectations will continue to be our priority.

PREDICTIONS IN TECHNOLOGY AND THE PROFESSION FOR 2011

The application of new and innovative technologies in the accounting profession will be based on needs driven by clients, as well as the need firms have to respond to external pressures and opportunities. In 2010, CCH commissioned an independent nationwide survey of CPA firm clients to examine their needs and expectations. The findings from the CCH Accounting Firm Client Survey offer a good understanding of trends in the profession and also where technology is needed to help firms achieve their goals. CCH issued a white paper on the survey findings, which you can obtain at CCHGroup.com/ClientRetention. Let me highlight several important points: 

1. Clients need information and services anytime, anywhere. SaaS and other forms of cloud computing are changing the way we work. Just as paperless solutions were a breakthrough several years ago, cloud computing is fundamentally changing how firms work, and how they collaborate with and serve clients. Firms should begin evaluating now where SaaS deployments can offer the greatest advantage and begin a migration plan. Additionally, a well-enabled mobile workforce is important. Firms are increasingly recognizing that having a customer focus means serving clients when and where they want, so having access to information and applications on mobile devices is key, whether it’s a BlackBerry®, iPhone®, iPad™, Kindle™ or other device.

2. 24/7 communication is becoming increasingly essential. The number one reason clients say they’d leave their firm is if their firm did not regularly check in with them on their needs. This takes commitment and tools to reach and collaborate with clients. As firm staff sizes are being reduced, firms need to leverage technology to stay close to their customers. Whether it’s through websites or portals — which nearly 60 percent of business clients now rely on as a means of communicating with their CPA firm — firms need to leverage these channels to better service their clients and convey that they are on top of client needs. Additionally, clients say that in 2011, their needs for specialized services and the support they will seek from CPA firms will increase. The risk is that many will look elsewhere for this additional support because, unfortunately, the best-kept secret from too many clients is that your firm already offers those additional services today. Informing current clients of the full range of firm services and providing more of those services to clients is a winning proposition, improving profitability and retention while increasing client satisfaction.

3. Firms are expecting more from their technology investments. Firm staffing levels and revenue have declined in recent years. At the same time, clients are demanding more and placing more pressure on pricing. As a result, firms want high-performing technology solutions that are not only best-in-breed solutions, but offer the most seamless workflow. At CCH, we call that “best in process” and that’s what we deliver. Best in process is not one product or even the culmination of products. Best in process is the automated, dynamic connection of best-of-breed solutions across a series of process steps. Starting with our world-class platform, CCH alone offers best in process and we can help firms be more successful by best leveraging truly integrated information and technology solutions to create powerful and productive workflows.

Mike Sabbatis, President & CEO