CPAs, Get Your C-Suite on Board with Technology
We live in an age of abundant new technology. Consumers are inundated with faster, more sophisticated smartphones every year, and the Internet of Things keeps people connected with ever-smarter devices, from refrigerators to automobiles. Business executives are faced with the same advancing technology that can improve their company and operations—if used correctly.
It can be an uphill battle getting the C-suite on board with new technologies, despite the benefits they can bring to a business. In a world faced with constant upgrades, many executives are getting burned out with implementing new technology. They may wonder if all the advancements are really worth the investment. Here are a few tips when presenting technology to your executives to get them on board with the changes.
Highlight the Bottom Line
Adopting new technology is often an expensive endeavor, and being an early adopter can be especially risky. One needs look no further than cryptocurrency to see both the risk and possible reward involved in investing in new technology.
When presenting new technology to the C-suite, it is essential to show how taking the chance will pay off in the end. For example, using automation reduces costs for both CPA firms and the clients they serve as it improves accuracy and efficiency. Automation can be used in various industries, including accounting, to eliminate human error. Mundane, repetitive tasks that eat up employees’ time and energy can also be delegated to automation, freeing up valuable time for more profitable work.
Keep Their Business in Mind
The goal of every company is to grow a successful business. When the C-suite sees the power of technology to drive business, it will be an easy sell.
KPIs are a valuable tool to help a business track how the company is performing in critical areas, such as customer satisfaction, operational cash flow, profit margins, and others. Using the right technology can enhance how KPIs are measured, analyzed, and utilized to drive business forward. Customizable dashboards are an incredible resource to show any KPI a company needs. Dashboards give executives the ability to make data-driven decisions for the company with up-to-date information.
Show Them the Magic
When it comes to new technology, the proof is in the pudding. The best way to get executives on board with trying out new technology is to show them exactly how their business will benefit.
Utilizing automation, visual reports, and customizable dashboards, CPAs can give C-suites the big picture of their company’s finances, including real-time metrics, accurate forecasts, and where the business is meeting goals or falling short. With the stunning visualization and instant feedback a customizable dashboard can provide, executives will have a “lightbulb” moment and see the true value of using the technology.
Adopting new technology can ensure a company remains competitive in its industry. Try these tips to help your C-suite see the benefits of using technology to add value to their business.
Share This Article
What's Trending?
Trending topics & tools for the CPA community
Fit for the Future: A Guide to Attracting and Retaining Accounting Talent
Discover how your firm can combat accountant shortages and inspire future business growth.
Are you on top of the latest tax planning developments?
Check out our latest webcast hosted by Thomson Reuters' Shaun Hunley, along with Business by Design's Paul Miller, to get valuable insights and knowledge on the latest developments in tax laws and regulations, enabling you to provide the best possible advice to your clients.
Start Planning for Tax Season with Offshore Staffing
Entigrity is trusted offshore staffing partner for CPA & accounting firms. Supporting 725+ clients nationwide. Hire experienced professionals starting at $11/hour. Start planning your staffing requirements for the coming tax season.
Resources
Valuable information provided by our sponsors.
CPAdirectory members have access to discounted auto and home insurance
At CPAdirectory, we think it's a good thing to provide our members with access to...
Have you protected your firm against cyber attacks?
Did you know that an estimated 2,200 cyberattacks happen per day? With the kind of...
Accelerate Invoice Processing with DOKKA’s Smart AI
DOKKA works with your accounting ERP to automate the entire Invoice to Journal Entry process...
Help your clients save more on a new 401(k) with new 2023 tax credits
SECURE 2.0 is here to help improve America’s retirement system. If your client is looking...
Save 40% or more on Becker CPE
Continuing education is a vital part of your professional growth, and at Becker, we're here...
How can you find, motivate, and capture the talents of new staff?
Using solid research as your guide, you’ll understand the motivators and unique strengths across generations.
Comments (0)