Accountancy practice management software has come a long way. Today, features like automated billing and reconciliations are easily integrated into the day-to-day practice workflow of Wolters Kluwer Tax & Accounting UK customers.
Our employees work side by side with our customers to create and manage these solutions – driven by a deep understanding of their needs and addressing the rapid changes in their environment.
However, it’s often hard to look beyond improving performance in day-to-day operations. Amid Brexit, the COVID-19 pandemic and other disruptions, accountancy practices and their clients are dealing with an unpredictable economic landscape. Future business planning can appear daunting.
However, technology can support accountancy practices (and their clients) in making informed business decisions, and planning for the future. In the first part of our Accountancy Practice Management for Future-Fit Growth series, we’ll explore how they can use technology to define and easily track Key Performance Indicators (KPIs). Doing so gives practices closer control of performance tracking, and deeper insights that will inform strategic growth plans.
Saving Time
For several decades, business technology platforms have enabled practices to track performance metrics that they have customised. This highlights areas that qualify for improvement and underpins strategic planning.
Contemporary technology, such as CCH KPI Monitoring, makes setting up KPIs faster and easier for accountancy practices than ever before. This is vital today. The current business landscape demands that firms assess and amend KPIs more frequently, based on fresh market variables. KPIs such as client retention rate and business time-to-recovery have become increasingly prominent performance indicators in the past year. If clunky technology makes KPI management difficult, practices have less time and insight to plan future growth.
Reducing Risk
CCH KPI Monitoring makes it far easier to track KPIs and report on them. This is fundamental in minimising risk. For example, if a KPI is set to track and escalate debt filtered by overdue dates, the ability to easily set alerts and automatically generate reports is critical to practice performance management.
Some practices are manually running monthly reports to measure KPIs. Others are running real-time reporting engines, a key feature of CCH KPI Monitoring. This latter solution allows practices to review essential data at any time – covering both performance management and compliance requirements. They can do so remotely or on-premise.
This means that firms can assess issues before they become problems, and thus act proactively. Real-time reporting is a true asset in building a future-fit practice.
The Proof is in the Practice
A number of Wolters Kluwer customers have been using CCH KPI Monitoring for several years now. Our customers look to us when they need to be right. Ryecroft Glenton has successfully integrated CCH KPI Monitoring with its own system. This consolidates information from several sources, including CCH Central and CCH Practice Management.
“We can use the year end date to trigger a sequence of reminders. Have we asked for the books? Have they been received? If a request to a client has been outstanding for a certain period, the partner will receive an alert via email. For limited companies, we can monitor the corporation tax and Companies House filing deadlines – as well as the different deadlines for pension schemes”
– Ian Smith, partner at Ryecroft Glenton
“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”
“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”
“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”
“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”
Across both public and private sectors, organisations have steadily adopted cloud solutions to improve efficiency, streamline operations, and cut costs. Yet despite this widespread uptake, one key IT function continues to lag behind: print.
Although printing was among the earliest IT capabilities, it has proven one of the most difficult to fully migrate to the cloud. For many, it remains the last, and most complex, element to address. Without a comprehensive strategy that considers all options, businesses risk leaving a critical gap in their cloud transformation.
Transitioning to a truly cloud-based print environment is no small feat. The complexity is often exacerbated by a market where vendors set high expectations that can be difficult to meet. In reality, organisations navigating this space need clear, objective guidance from knowledgeable experts. For those with substantial printing requirements, particularly in the public sector, getting cloud print right is crucial.
Cloud growth and cost considerations
According to this year’s Flexera State of the Cloud report, 38% of global organisations plan to move from on-premises workloads to SaaS applications, including cloud print. But as more services shift to the cloud, cost control is under increasing scrutiny. A striking 87% of respondents said “cost efficiency/savings” was their primary metric for measuring progress towards cloud goals.
Cloud-based print can deliver substantial cost savings. It eliminates the need for in-house IT teams to maintain and monitor on-premises print servers. It also allows for greater flexibility and scalability - enabling printing from any authorised device and streamlining feature upgrades, which are typically more disruptive with traditional on-premise software.
Both the public and private sector benefit from the enhanced cyber-security of hyperscaler platforms such as Microsoft Azure, along with automatic software updates designed to meet evolving operational needs. The result is a simpler, more secure and more adaptable printing environment.
Why pure cloud isn’t always the answer
While cloud print offers more than just cost benefits, it’s not a one-size-fits-all solution. For some organisations, especially those with high print volumes or complex requirements, moving entirely to the cloud may not yet be practical.
The benefits of cloud print are real, but not universally accessible - particularly for organisations whose IT infrastructure lacks robustness or suffers from high latency. A poorly executed cloud print solution can lead to user frustration, such as delays in printing or loss of key functionalities.
Additionally, there are concerns around business continuity. If public cloud services experience downtime, organisations without premium support packages may struggle to restore services quickly. This can be particularly disruptive for those relying heavily on print.
Security is another sticking point. In highly regulated sectors, like healthcare, finance and banking, concerns about data privacy and control persist. Despite substantial investment in security by major cloud providers, many organisations remain hesitant to migrate all workloads off-premises.
Hybrid cloud: A middle ground
For many, a hybrid model is the most pragmatic approach. This allows organisations to benefit from cloud print’s flexibility and cost efficiency, while retaining on-premises elements that meet specific needs around compliance, resilience and performance.
Hybrid configurations can be tailored to match each organisation’s infrastructure, risk profile, and regulatory environment. For example, educational institutions may have distinct requirements tied to their academic specialisms. No two organisations are alike, and their print solutions shouldn’t be either.
Expertise is key
Designing and implementing the right mix of cloud and on-premises print services takes planning and expertise. Without it, organisations risk ending up with an expensive or underperforming system. Integration with existing systems can also be a challenge when moving to a cloud print SaaS model.
Though these challenges are manageable, they do demand a certain level of expertise. Larger businesses with greater cloud maturity may find the transition more straightforward, but even they must be mindful of internal governance and compliance requirements.
For many, hybrid cloud print provides the best of both worlds: the functionality and reliability of traditional systems, paired with the scalability and efficiency of cloud services.
The path forward
As organisations continue their digital transformation journeys, they should avoid overlooking cloud print. With the right configuration, cloud print services can deliver significant advantages in cost, flexibility, and scalability. But care must be taken - not just to avoid excessive caution, but also to steer clear of costly missteps or ill-fitting contracts.
Above all, transparency and expertise are essential. By seeking impartial advice and aligning solutions to their unique needs, organisations can confidently modernise their print infrastructure.
Author Apogee Corporation
Main image courtesy of shutterstock.com
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