Choosing the right technology can completely transform your accounting firm – AND significantly improve your bottom line. Let’s face it: we’re always looking for ways to work smarter, better, and faster. Thankfully, there are countless software companies and simple tech solutions to help you do just that. 

From sending invoices to storing client information to payroll services, technology can simplify so many of your accounting processes. Here are some tips for choosing and implementing new technologies this year! 

Choose technology for your accounting firm wisely

Talking about technology can be overwhelming… because there’s just so much of it! With so many apps and fancy gadgets on the market, it can be hard to sift through the noise and choose what works best for you. While it can be tempting to stick with the same software you’ve been using since you first started digitizing – or relapse to using pen-and-paper again – you owe it to yourself and your business to start exploring! 

Start with a solid list of goals you want to achieve with your new tech stack. Where do you want to improve efficiency? What processes need to be simplified for your team? What are some non-negotiables when considering software for your accounting firm? Once you’ve got your list written down, don’t be afraid to try some software on for size. Ask for recommendations. Test drive multiple services. Most software companies will offer free trials so you can make sure their product is a good fit for your firm. 

Also, remember to think about what’s best in the long run and consider how the investment will pay off. While a price tag might be intimidating upfront, the software might pay for itself within a short period of time. 

Don’t be afraid to automate

The threat of a robot apocalypse is ever-present, according to every 2000s science fiction flick (we’re looking at you, iRobot). It turns out that automation isn’t nearly that scary! In fact, automating parts of your accounting process can greatly improve your business. You get more time to focus on your most complicated tasks with the easiest tasks are taken care of for you. Look for tech solutions that will automate some of your day-to-day procedures, like scheduling meetings, sending reminders to clients, and paying bills. 

Know the apps you use

Once you’ve figured out what apps best suit your firm’s needs, you need to learn how to use them. Make yourself at home! Take the time to learn all the ins and outs of the tools you plan to utilize every day. Chances are, the software you picked will have free demos to watch or a training program you and your team can go through. It’s best to make this sort of training mandatory for all staff in order to ensure everyone is on the same page. 

Always be updating your tech

What’s considered “modern” now probably isn’t going to be so trendy next year. If you want continuous growth at your firm, you have to be willing to continuously update and stay current with the latest tech trends. This goes for both your software AND hardware. Cut ties with devices that just don’t run like they used to anymore; invest in new pieces that enable your team to work efficiently. If you haven’t yet, you might consider investing in laptops for your team to enable them to work from anywhere. As more and more offices switch to virtual work and remote-working on sick days, it might be worth looking into how the flexibility of hybrid work can improve your bottom line. 

Choosing the right technology for your accounting firm can seem pretty daunting at first, but good software really pays off in the long run. To maximize your efficiency and profits this year, really take the time to find a good fit and take care when implementing tech changes at your firm.