Accounting, Technology and Time
Time is a comfort that most accountants do not have. Yes, technology has made it so that work is more efficient and thus can be delivered faster. But, to the detriment of accounting firms, clients know this fact. Now what happens is they expect to pay cheaper fees because they know work is relatively easier to do now. So, if you can’t meet the fees they want, they will go elsewhere. This is one of the dilemmas that accounting firms are facing the world over. How does one strike that balance between time and technology? The answer is: Your team.
Your Team Is the Answer
Like support columns in a building, your team members are your firm’s critical load points. Without a strong team to support you and your business, you cannot deliver the results you and your clients want. So, let’s say you have integrated your systems with cloud accounting technology. Of course, you would have client data in the cloud. But, to ensure that your workflow and systems work to at least optimal efficiency, team members assigned should be well trained in the use of these tools.
This is how you cross the divide between time and technology. Your people are the key elements that make this work. Why? Imagine technology being a high-performance race car. You can’t just let less experienced drivers take the wheel, so to speak. Yes, there will be a difference. But not as much as the tools are supposed to make you work faster and more efficient. In the relatively minimal amount of time it takes to finish jobs, you will not see a real return on investment on the technologies you use.
Your Team Members
So still using the analogy of the race car, you need a championship team of A-players. So, at each stage of your workflow, you need specialists for different aspects of your business. From accounting, bookkeeping, and/or finance to marketing and sales to business administration and so forth, you need experts for each. Having people that can do a combination would be a plus. Key to this is them having enough experience in the use of the tools specific to their fields. At least basic knowledge of the tools their teammates are using is another plus. This is a surefire way to streamline your workflow.
But, it is important to remember that you will have to pay a premium for team members with high-level skillsets. This should be a non-issue in the long run though. A-players are game changers. If you invest in hiring the cream of the crop, you will see dramatic improvement sooner than you would expect. The question then becomes, is hiring a team member locally feasible financially for your business? Unfortunately, the fact of the matter is that it is very expensive to hire someone in US or Canada, or in the UK. But, as your luck would have it, there’s a viable solution.
Different firms from San Francisco have accountants and bookkeepers working with us in the Philippines. Why? Besides the fact that you can get highly skilled professionals for a tenth to a third of the cost of hiring locally, there are lots more reasons why.
Our Philippine teams are highly educated with university and college degrees and have professional licenses and accreditations to match. Thus, all have excellent verbal and written English communication skills. Plus, they have a great grasp of the latest technological advancements. So, they can easily adapt to any work environment. Their work ethic, levels of flexibility, and attention to detail are second to none. So, expect high-quality jobs to get done on time.
If you want to deliver the results you and your clients want in the quickest way possible, start building your team with us today.