Technologies SMPs Need to Implement Today
How technologically adept is your accounting firm? What systems and software might work best for your firm? In order to answer these key questions, small- and medium-sized accounting practices (SMPs) must first determine what stage of technological adoption they are in. Only then can firms, and their clients, determine which technologies are right for them, according to Amy Vetter, Global Vice President, Education and Head of Accounting at Xero. Accounting firms typically go through five phases when adjusting to new technologies. SMPs should start with the basics, like keeping data in the cloud, to see how your firm interacts and adapts to the technology and then then move toward more advanced technologies.