Modern companies no longer segregate IT solutions from other departments such as accounting or marketing, but are melding the activities together for more efficient practices. In fact, a company may lose its competitive edge in a market if all departments do not embrace the latest IT innovations pertinent to daily activities.
As a result, companies are working with third party IT service providers to ensure that not only standard tasks such as network management and infrastructure maintenance are taken care of, but that tech-related tasks companywide are addressed. This means companies are entrusting IT experts to introduce the latest innovations, technologies and best practices to all departments within a company, allowing for more streamlined processes, faster decision making and more connected operations. Without implementing these solutions for each department, companies run the risk of falling behind or experiencing unnecessary delays that will allow competitors to increase their market shares.
A recent CCH Technology Survey revealed cloud, big data and mobile are trending technologies that are changing all aspects of the business world, particularly the tax and accounting profession. Many companies have accounting departments or a financial sector that is in charge of money and transactions.
While maintaining the bottom line may seem basic in operations, the modern business demands advanced IT solutions to keep accounting practices on the cutting-edge and performing at optimal levels. This, in turn, is increasing demand for IT service providers with special knowledge in accounting practices to aid in implementing the solutions throughout the department.
"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 Kevin Robert, CEO of an accounting firm.
The survey revealed many IT services are improving client relations, productivity and profitability for accounting professionals. About 64 percent of companies said when they look to invest in new technology, the main focus is on how the services will enhance client communications. Technology must not only improve operations within the company, but also translate into improved client service in all departments. Thus, IT service providers are key in ensuring the new innovations have internal and external applications and benefits.