Cloud and mobile top the list of emerging technologies transforming the tax and accounting profession, according to the 2012 CCH Technology Survey, an independent nationwide survey of more than 400 accounting professionals conducted by ORC International for CCH, a Wolters Kluwer business.
Wolters Kluwer Tax & Accounting chief executive Kevin Robert discussed the findings during a keynote address to more than 1,200 professionals at the CCH Connections User Conference in San Diego.
"We're now at a point where all the benefits that have been talked about from emerging technologies are here - firms using these technologies today are seeing tremendous benefits in productivity and the value they can deliver to clients," said Robert.
According to professionals surveyed, improved client service is the driving force behind their adoption of these emerging technologies, along with improved productivity and profitability. Firms also report that they still face challenges in leveraging technology effectively, despite its importance to their success.
Specifically, survey findings include:
- The majority of firms (64 percent) said that when making decisions to invest in new technology, their top consideration is if it will enhance client service;
- Improved client service is also the top benefit that firms say they realize from supporting a mobile workforce, and leveraging social media;
- Social media and big data are emerging technologies the majority of firms identified as having a future impact on the profession;
- Two-thirds of firms say leveraging technology is important to their success
- 87 percent of surveyed firms report they leverage technology more effectively
- 15 percent of firms were very confident in their ability to understand and manage emerging technologies.
To download the full survey findings, visit http://CCHGroup.com/TechnologySurvey.