Meeting 2017 AICPA Standards through Document Management Software

Accounting education and accounting practice are very different, and most new hires in the industry who aren’t aware of it find they are usually in for a rude awakening.

After receiving a CPA designation or graduating with a bachelor’s degree in accounting, most classically trained accountants are hoisted out of the proverbial frying pan and thrown into the fire of sales, customer service, and marketing upon starting their new careers: facets of business most accountants dislike.

But this phenomenon is prevalent among even the most tenured accountants, CPAs and tax professionals.

Even those who have spent more than a decade in the industry know how the client landscape has changed to favor the glibbest, most polished, and most “sales-y” accountants as professionals strive to win more customers.

The good news for new and tenured accountants alike is that there are easier ways to sell your services than by being “sales-y.” Solving accountants’ biggest issues in 2017 involves leveraging document management software as a marketing tactic. Here’s how:
 

Leveraging 2017’s Non-Attest Accounting Services with DMS

The American Institute of CPAs has taken notice of the mobility CPAs need to practice their professions accordingly, and this is equally important for the businesses employing these CPAs. Meeting 2017 AICPA standards through document management software needn’t be a hassle.

In fact, it can shed light on how today’s accounting technologies not only simplify the best practice burdens, but also bring significant cost reduction to new accounting models.

Accountants’ ability to win new business and out-compete those vying for bigger books will demand technology-based strategies that leverage the benefits of impending legislation.

For instance, non-attest services that include but are not necessarily limited to items such as financial planning and consulting services, do not require CPAs to register in a new state to practice.

However, that doesn’t mean there aren’t certain best practices to help them perform these duties more carefully.

For instance, using an encrypted web portal to enhance security in the transmission of sensitive information across state lines is a more effective way to manage these non-attest services and expand the scope of any CPA firm’s business.

Given the sensitive nature of most accounting documentation, most clients are beginning to refuse to do business with CPAs that do not take the security of this information seriously, and this will always include never sending information over email, which is breach-susceptible. SecureDrawer, eFileCabinet’s encrypted web portal, transcends these breach-sensitive mediums.

Additionally, the more business an accountant will be able to acquire across state lines through non-attest practices, the more bulletproof their information management methods must become to keep all of their clients’ documentation organized.
 

An Accounting Model for 2017 Attest Services and Document Management

Attest services are much different than non-attest services. Although accountants are capable of meeting 2017 AICPA standards through document management software based on the above model for non-attest services, the attest services are also bolstered by document management technologies and the problems they solve for accounting firms across a variety of different locales.

For instance, given that attest services pertain to more than just clients, but also any federal government or regulating entity, such as a consumer reporting agency, may have access to the information provided in these attest services, the standards for compliance and correct information transmission are very, very high.

If anything, as reported by AICPA, the question is now about whether accountancy statutes are worth amending to treat non-attest and attest services as similar entities.

If this agreement is met, there will be an unprecedented demand for information management technology in the accounting profession, more specifically mandates that encourage meeting 2017 AICPA standards through document management software and similar technology modules.

And, if individual mobility is championed from a legislative standpoint, mobility will prove even more crucial to CPAs’ success.
 

Tackling Accounting’s Marketing Challenges through DMS

Forbes reported last month in its mentioning of eFileCabinet’s technology that accountants need document management to become better marketers. Talk is cheap; why sell when you can bulletproof your existing services and meet your clients’ needs with poise and confidence, the sales and marketing tactics omitted.

In a tepid economy with fear of security breach as prevalent as ever, the ability to find new clients will hinge on addressing security concerns through information management technologies that increase mobility without sacrificing security.

The efficiency one needs to retain an increased number of clients, and without hiring more staff, can only be achieved through document management, too. Otherwise, complaints about bad service will render churn and negative feedback that could destroy any CPA firm’s credibility, no matter how many clients it has accrued.

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