Technology has clearly permeated the accounting firm (and the rest of the world, for that matter), with tools ranging from the basic to the arcane.
However, when it comes to "must-have" technology items, those tools that aid with security, productivity and connectivity - both within the firm and with clients - are at the top of most accountants' lists.
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With all the services that accountants perform for clients, and in their practice, knowing what matters most when it comes to choosing a technology solution is far more important than what any one particular piece of software, hardware, or service can provide.
"What's most important is anything that allows you to be fully portable and functional; tools that let you work and allow you to work how you need to," said Dan Szidon, partner-in-charge of audit and accounting at Milwaukee-based Wifpli. "I have 300 auditors out there, and I'm going to have them use something I know lets them work from wherever they are. This is real-time, everyone working together. That's where things are headed."
Must-Have Tools
David Cieslak, partner at Simi Valley, Calif.-based technology consultancy Arxis Technology Inc., is a CPA, CITP, and GSEC. He works with many of the tools CPAs are using, or considering using, as well as some they are not yet familiar with.
Below, Cieslak shares what he believes are "must-have" tools for CPAs, whether they are aware of them yet or not, as well as his reasons for adopting them.
LeapFile - Use this for secure file exchange. It is integrated with Outlook and also acts as a secure FTP option. Exchanging files with clients is no longer optional, it's a must! LeapFile enables CPAs to seamlessly send and receive documents securely with clients, directly from MS Outlook or a custom-branded portal.
Mozy - An online backup utility. Regular, off-site backups are key for all users, especially practitioners. Mozy provides an affordable, off-site data repository where all key client data can be saved.
Dropbox - An online tool that allows users to make files available on any machine at any time, with automatic synchronization. It is blissfully simple to use. CPAs on the go will find this utility invaluable, since it gives them secure access to all their key files, no matter where they are, and what machine they are working on. Simply install Dropbox on a machine, and files will automatically be locally available on that machine going forward. There is no daily logon ritual. All key files are located in the My Documents\My Dropbox folder whenever you need them.
Trillian Astra - This is a universal chat application that gives users a single point to connect with all of their key contacts. It supports MS Messenger, Yahoo, AOL, Google, Skype, Facebook, ICQ, Twitter, and more. Instant messaging is quickly taking the place of e-mail when practitioners need to connect with staff and business associates for day-to-day business communications.
Secway Simp - This tool adds end-to-end encryption to various chat protocols. By default, instant messaging conversations are not "secure." Secway Simp can encrypt instant message conversations, ensuring the confidentiality of messages exchanged.
Szidon also maintained that given the increasingly mobile and paperless workforce, it's important to have a solution that can handle full encryption of client files, as well as the hardware they work on. This is just one of three primary toolsets that firms are realizing they can't, or won't, be able to do without. Workflow management and scanning and document management also top the list.
FILE ENCRYPTION
The consensus among accountants and industry analysts is that file encryption services or tools should be at or near the top of any list of must-have technologies.
Granted, there are firms that continue to e-mail requested client documents without any form of encryption. But now that 45 of the 50 U.S. states have enacted some form of data security laws, CPAs are paying more attention to encryption, especially with the high costs of a security breach. Penalties for violating data security rules can reach as high as $500,000, although according to the Identity Theft Resource Center, a nonprofit group that assists ID theft victims, the average cost per record breached is about $202.
Boston-based Caturano & Co. vice president William Kracunas is all too familiar with stringent data security laws, as his state is one of strictest in the country. "Massachusetts has very high privacy laws, so having some kind of encryption or secure file-sharing service has been a no-brainer for us," he said. "All of our laptops are encrypted and we use portals for file transfer. That's the way to go."
Well-known tech consultant and analyst Randy Johnston also agreed that, for CPAs, technology for the encrypted handling of files is among the most important tools they can have. "CPAs have a professional responsibility to handle client files confidentially. Without a portal, encrypted e-mail, or at least encryption on thumb drives or hard drives, it is impossible to protect client files," he said.
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