Accounting Firms Must Track Technology Trends

Written by on May 14, 2013 in Money - No comments | Print this page


accounting-technologyIn a lot of industries, technological improvements seem to far outpace the adaptation of the field to utilize those new advantages or change business practices accordingly.

This may be the place in the accounting field at the moment, but some of the changes are relatively easy to make while others will take some planning.

Here are a few that can help any accounting firm improve employee morale, the bottom line and minimize security risks.

1.    Become More Open to Accepting Different Mobile Devices

It used to be that few, if any, major financial businesses or accounting firms allowed their employees to connect into the company’s networks with their own mobile device due to security risks.

For some, that meant foregoing their own cell phone and for others it meant carrying two. Now, most workers are unhappy with either solution.

The good news is there is no reason to limit your workers to either outcome. There are now so many devices capable of handling all of the business needs along with plenty of other fun uses that you can be more open to allowing employees to work from their own mobile device.

In addition, the security options for virtual private networks makes it easy to keep things secure while allowing a wider range of phones to be used.

2.    Analyzing As Much Data As Possible

There is now more data than ever available to be analyzed and utilized, but only if it is properly acquired and managed.

Adding in these capabilities can be a great way to improve business for your accounting firm during the slow times of year. Consider ways in which you can give your accounting firm more tools that can be marketed to your clients.

If you are able to create additional revenue streams for your client, or show them where they are missing out on potential money, you will be creating additional revenue streams for yourself at the same time.

3.    Enhance Your Cyber Security to Stymie Hackers

Unfortunately, now a days it is much more accurate to ask if you know that you’ve been hacked than to ask if you have. Many major companies and governments have been victim to hacking attempts and corporate security is increasingly important.

This is particularly true of accounting firms or financial services companies who have highly sensitive information on their systems. It is important to not only do an in depth security analysis and make sure that you don’t have any major weaknesses in your system but to also keep up to date on these endeavors.

Every few months, if not more often, you should confirm that all of your security is up to date and that your methods are still best practices. This can not only protect your clients’ data, but also protect you from any legal risk due to negligence.

Elena Mikoleski is a writer for, a New York accounting firm that offers financial business consultants to ensure your NY business is on the right track. 

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