Document Management Considerations
Before you fall in love with the concept of
"going paperless", you need to fully understand what this really
means to your business. First, you must cost- justify the system,
and find a way to experience a positive return on the investment in
a new system. You must fully understand and acknowledge your direct
and indirect costs - in real estate, in personnel, in supplies and
materials, and in efficiency.
Is the management of your static information - the file cabinets
in your office - really the biggest issue? For most firms, it's a
huge issue, but may be one of the most difficult to address.
Particularly since many professionals are so accustomed to handling
paper files, replacing the paper-file cabinet with an electronic one
may represent a monumental cultural adaptation which overshadows the
technological advancement. Regardless of the benefits of having an
electronic, fully- managed document archive, many firms feel that
this is an internal requirement and as such it falls somewhat lower
in priority than the dynamic systems. This should be, however, a
primary focus of tax and audit practices, whose internal processes
are essentially a validation, reporting and archival of information
from other businesses. This is where a full-featured document
management solution could truly benefit the practice.
The dynamic information - real-time and work in process data -
"lives" in the PCs and network systems. These are the systems that
are used to produce and exchange business information. Because these
are the systems that the personnel and clients interact with, they
represent a significant part of the functionality of the business.
Most professionals, even those who only nominally recognize the
value of technology, can easily recognize the value of keeping their
employees productive. When the technology can facilitate information
exchange in a timely manner (especially when it elminates
unnecessary travel or other time/expense impacts), the business and
the client benefit, and the positive return on the investment is
more visible. Electronic document exchange, online application
services, and workflow management tools address these business
requirements.
Your business probably already spends a significant amount of
money on technology. It's time that you really look at that resource
as much more than a means to support status quo. Your systems should
be workflow and productivity enhancers that improve your efficiency
and effectiveness. If you are primarily an audit or tax practice,
then a cabinet solution may be the best approach. If you handle any
volume of outsourced accounting, then a workflow approach with
online applications is the key.
CPA-ASP Solutions for Accounting
Professionals
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Dear
Joanie,
Your professional practice requires computing technology in
order to compete in today's business world. You use technology
to manage your records, to produce information, and to
communicate with others. When looking at potential
improvements in operating cost and efficiency that business
technology can provide, it makes sense to break down the
problem into the three core areas where technology impacts
your business most: static, or internal document management;
dynamic, or "live" information management; and border systems
where you and your clients interact.
In this issue we discuss these three primary areas where
technology is applied to the professional practice, and what
you need to consider in when seeking to "IT enable" your firm.
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Area 1 - Internal Document
Management |
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 Internal
document management requires a system for storing, accessing
and managing electronic documents. The core of the system is
an online document repository that can be organized in a
similar way to your paper folder, divided into sections and
subsections and contains all your documents, regardless of
their origin, including: scanned paper documents, documents
generated by your existing systems, Microsoft Word and Excel
documents, and any "printable" document (web page, email,
etc.).
Document security is extremely important. By using an
electronic document management system, you immediately gain
the advantage of being able to create duplicate sets of your
documents and store them away. An advantage over paper is your
ability to control the access to documents. This can be done
by limiting users to specific electronic drawers, folders, or
even to specific documents within a folder. In addition, a
robust document management system can provide you with a
complete audit trail of document usage.
Document
Management - GoFileRoom
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Area 2: Live Information
Management |
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Your PCs
and network systems are the lifebood of the practice. You
communicate using these systems, and you produce information
using the resident applications and data. These systems are
key to your practice internal operations, and can mean the
difference between success and failure in producing for your
clients. This is the system where the in-progress work gets
done, and where the "live" data exists. When looking at the
functionality, fault-tolerance, performance, and capability of
your systems, you should consider reviewing the potential
benefits of the outsourced IT alternative.
Running your systems with an application service provider
(ASP) could provide you with the cost- efficiency you need
while improving system capability and functionality. Keeping
up with technology is difficult and expensive, but the ASP
solution might be the way to introduce the features and access
your systems need without the traditional cost associated.
Hosting services allow you to implement online working models
for applications you already have - eliminating the training
time and data conversion. The migration can be quite easy, and
the benefits to your practice could be tremendous.
Online
Application Service is the key...
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Area 3: Border Systems - where you and your client
interact |
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 Many
professional service firms interact rather "manually" with
their clients, meaning that they utilize more traditional
forms of communication and interaction. For example, driving
to a client office in order to pick up accounting information
is a normal procedure for many bookkeeping providers.
Exchanging data via email or trading documents via facsimile
are typical methods of client interaction. But using today's
technology and implementing ASP-delivered systems could
facilitate a better, more effective way.
When your firm and your clients need to interact using the
same applications and data, it makes no sense to be redundant.
Why not allow all participants to work in real-time on the
required systems? When you use online application models, as
delivered by an ASP, you introduce improvements to your
ability to work with your clients as well as improving your
internal IT landscape. Enabling this border area, where you
and your clients interact using shared resources, can greatly
improve delivery of client services. You already bear the cost
of your IT service, why not extend the resource to your client
and at the same time improve your own operating efficiency?
Outsourced
Accounting - Online
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Need Outsource Processing
Support? |
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 e-Accounting's ADVISOR Provider Network offers
credible, professional outsourcing services at extremely
cost-efficient rates. Using the online application services,
your processors and clients alike can access the necessary
data and applications online at any time and from anywhere
they have Internet connectivity.
With the rapid increase in the popularity of offshore
outsourcing, e-Accounting understands that you need to know
more about your potential BPO provider before you engage.
Visit the ADVISOR Provider site and find out how we're helping
to ensure that you get only the best in BPO providers.
ADVISOR Provider
Network
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Marketplace |
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 Link to
online license purchasing for QuickBooks or ACT! Obtain access
to Web-based tools and services. Get discounts on check stock
and printing solutions.
Marketplace...
purchase licenses, supplies and more!
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Past Issues of Practice Development
News |
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 Read the
June 2003 edition... how online accounting and offshore
outsourcing are making a big play together... and how
e-Accounting FACILITATES THE OUTSOURCE SERVICE MODEL
Read the May 2003 edition... Trends in accounting
information technology, retaining (building) the value in your
practice, the growth of the outsource accounting model, and
how e-Accounting is helping practices of all sizes work better
with their small business clients.
Read
more...
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