While I was an executive at a regional branch of a CPA firm, I worked with a lot of like-minded people and really learned how they tick. The CPAs and other professionals I worked with were great at keeping current in their industry and at protecting client information. After all, tax laws change regularly, and confidentiality is paramount.
But there was something they weren’t great at — CPAs, I learned, as a rule of thumb, are terrible at capturing their time. They’ll work hard with a client, only to either forget or underreport their times, costing the firm in billing revenue. Why does this happen? Isn’t optimizing billing a no-brainer?
The reason this happens is that your technology may be holding you (and your CPAs) back because CPAs meet with clients and then must wait until they get back to their desktop to log times. A cloud solution that allows for mobile time logging helps ensure that you get every dollar that you earn. We’re accountants after all — we should account for every hour!
In-the-Moment Time Logging Means Accurate Billing
When you’re meeting with a client, it’s obviously important to pay attention to him or her. You know where your focus needs to be: on the client — not on jotting down exact times so you can log them later. So when you’re meeting with a client, it’s easy to understand forgetting if you sat down at 12:15 or 12:45, if you got back to the office at 3:00 or 3:15, when you actually left the client’s office, and just how long were you stuck in traffic?
Now backtrack for a moment and imagine that your firm had just migrated to a cloud, letting you access your important and not-so-important documents from anywhere with an internet connection. This provides simple and optimized access to whatever software your firm may be using for its different processes through Application Hosting, including your billing software. At the end of your 12:45 meeting, you just open a time-logging platform or document, plug in or select some information, and you don’t have to think about it again that day. Nothing gets befuddled by traffic or other such assaults on short-term memory.
This capability doesn’t just optimize the raw entry of time, though. Having a mobile and digital means of billing creates verifiable historical case information, which makes doing a client review an expedient process, and it fits industry expectations for accurate activity records. The software platform itself (and there are loads of options, some of which you may already be using) can act to standardize your notation processes to a degree that would take significantly more effort to do accurately in a simple electronic or written document.
Being able to do all of that in the moment on your cloud-connected laptop allows you to keep your focus where it should be — the client — and ensures you get paid appropriately. And there is another added benefit: Having access to your network from the client’s office removes another layer of distraction during your meeting. You don’t need to worry about whether you have all the necessary paperwork or other things that might detract from your focus. As a result, clients can trust you’re maximizing the time you are billing them for and using it efficiently.
That convenience is all well and good, but you’re a cover-all-your-bases kind of accountant (which, of course, is what all accountants should be). What about security? What about cost? What about time?
DiamondIT Will Get You from A to B
Security comes with experience and technological advancement. The reason that so many companies in California trust their most important and confidential data with us is that we have both in spades. When a company may be relying on their small in-house IT department and well-reviewed security software, our large and specialized cybersecurity staff and leading-edge technology seem too good to be true.
The answer there, of course, varies based on the client. We’ve serviced businesses large and small, and we customize the cloud services for each and every client to fit their needs. Typically, a migration will take about a month to get completely live and off the ground (and into the clouds!).
Every Meeting Has an End, but Every Ending Is a New Beginning
After that initial month, our relationship is just beginning. That’s why we keep your firm up-to-date with the latest security patches, encryption advancements, software updates, and regular check-ins to make sure everything is going smoothly. It’s all part of an ongoing partnership we’ll have established.
You know that a great manager plays to his employees’ strengths and helps out with their “work in progress” characteristics. Giving your CPAs the support of a cloud over their heads helps them put their best feet forward and helps your firm’s bottom line with optimized billing. Are there CPAs that are excellent at logging their times and keeping track of their hours? Sure there are. It just so happens that a lot of them also use cloud solutions to make things easier. Help to keep your firm moving forward by reaching out to DiamondIT today.