In the accounting and audit sector, digital transformation is more than a buzzword—it is a critical strategy for staying competitive and efficient. For Baker Tilly, one of the largest accounting and advisory firms in the U.S., the move to a cloud-based platform for their employee benefit plan (EBP) audits was a bold step toward modernisation. During a recent Caseware Thought Leadership webinar, “Putting Plans into Motion: A Tech Migration Story,” two principals from Baker Tilly, Karen Larson and Marcia Ackerman, provided an in-depth look at their firm’s tech migration journey. This article unpacks the insights and key strategies that helped Baker Tilly achieve a seamless and successful transition, offering valuable lessons for firms looking to undertake a similar challenge.

Setting the stage for change

Baker Tilly ranked the 10th largest accounting firm in the U.S. with 600 partners and $1.5 billion in revenue, realised the need to consolidate its methodologies and leverage technology for consistency and efficiency. Its assurance practice alone generates $400 million in revenue, with 1,600 team members working on over 10,000 assurance engagements. A significant portion of this comes from its EBP audits—around 2,500 audits annually. Given the complexity and volume, standardising the approach and utilising a cloud-based environment was critical to maintaining high-quality outcomes.

The shift wasn’t only about adopting new technology; it was about ensuring a successful implementation and adoption by their teams. “One of the things we spend a lot of time thinking about at the very beginning of these implementations is trying to define what success looks like,” said Karen Larson. “That helps us prioritise certain aspects of the implementation to ensure a successful outcome for all our team members.”

Preparing for the leap: Strategic planning and vendor partnerships

The preparation for a migration of this magnitude was not taken lightly. Baker Tilly’s approach was methodical, beginning nearly seven months before the go-live date. The firm emphasised the importance of having an engaged leadership team and securing their commitment early on. According to Larson, engaging the leadership within their EBP practice was crucial: “We spent a lot of time with key people—our EBP practice leader and technical partner—to ensure they were familiar with the methodology and technology. Their involvement was critical in supporting the implementation.”

Additionally, forming strategic partnerships with vendors like Caseware and CPA.com was fundamental. As Marcia Ackerman pointed out, “Having that vendor support is key to really making sure you’re thinking of all the things you need to be thinking of because you don’t know what you don’t know going into it.” These partnerships enabled Baker Tilly to navigate the complexities of the migration, such as understanding cloud-specific functionalities, addressing data security concerns, and negotiating contract terms.

Mobilising the workforce: Driving change through communication and training

One of the standout elements of Baker Tilly’s migration strategy was its focus on change management and training. The firm adopted a “train-the-trainer” model, selecting a core group of leaders—”champions for change”—to lead the transition and train others. This approach created a ripple effect throughout the firm, fostering a culture of learning and support.

Communication was also key. “Over-communicating what’s coming is important because not everyone reads every email or pays attention to every internal webinar,” Ackerman said. “Having a multi-faceted communication plan helps get people’s attention and ensures they understand that something important is on the horizon.” This strategy effectively built excitement and anticipation among team members, leading to a smoother transition.

The firm also implemented office hours, where trainers were available weekly to answer questions and provide additional support. This helped mitigate the “I don’t remember how they got started” issue that often follows training sessions. Baker Tilly kept their teams engaged and confident throughout the transition by ensuring continuous support.

Overcoming challenges: Lessons learned on the road to the cloud

Despite meticulous planning, Baker Tilly encountered several challenges along the way. Customising the new platform to fit the firm’s specific needs was more difficult than anticipated. “There were a lot of things about these firm customisations that we just didn’t flat out know,” Larson noted. “We started spinning our wheels and incurred much time and effort just trying to better understand what we didn’t know.” The experience underscored the importance of detailed communication with vendors to clarify customisation capabilities and limitations upfront.

Training was another challenge, particularly transitioning from a proprietary desktop methodology to a cloud-based system with a different methodology. “Our methodology at Baker Tilly has an RMM model that drives your sample size. You can’t pick and choose from one methodology to another because you’re used to something here and not used to something there,” Larson explained. The firm learned that managing such a significant change required clear, consistent communication and setting firm expectations about what was—and wasn’t—part of the new system.

Realising the Benefits: Automation, Integration, and Improved Efficiency

One of the major advantages of moving to a cloud platform was the ability to automate processes and integrate systems seamlessly. Baker Tilly took full advantage of this by automating functions like user provisioning and the roll-forward of audit files. “We’ve been able to integrate and automate several aspects of the Caseware Cloud,” Larson said. “These cloud environments and some of these new applications are great. They help people do their jobs better rather than hinder them.”

By leveraging APIs, the firm improved data accuracy and reduced manual effort, creating a more efficient and productive environment for their teams. For instance, new clients and entities are automatically synced from their ERP system to the cloud, reducing errors and saving time. 

Key takeaways: A blueprint for future tech migrations

Baker Tilly’s successful migration offers several lessons for other firms contemplating a similar move:

• Start early and plan thoroughly: Allow ample time for preparation and engage all relevant stakeholders from the outset.
• Engage leadership and build consensus: Ensure leaders at all levels are bought into the change and can advocate for it within their teams.
• Communicate continuously and creatively: Use a multi-channel communication strategy to keep everyone informed, involved, and excited.
• Leverage vendor partnerships: Develop strong relationships with vendors to anticipate challenges and leverage their expertise.
• Focus on training and support: Provide comprehensive training and continuous support to help teams adapt to new technologies and methodologies.
• Automate and integrate: Use cloud capabilities to automate processes and integrate systems, enhancing efficiency and reducing manual workloads.

A new chapter for Baker Tilly

The journey to the cloud has positioned Baker Tilly for greater agility, efficiency, and growth. As they continue to modernise their audit practice, the lessons learned from this migration will serve as a foundation for future tech initiatives. For firms looking to undertake similar transformations, Baker Tilly’s experience provides a valuable roadmap to navigate the complexities of tech migration and emerge stronger on the other side. 

With a focus on strategic planning, robust communication, and continuous improvement, any firm can achieve a successful migration and unlock the full potential of digital transformation in the world of accounting and auditing.

If you are considering a tech migration or are in the midst of one, there is no better way to learn than from those who have successfully navigated this path. Watch the full Caseware Thought Leadership webinar, “Putting Plans into Motion: A Tech Migration Story.

It’s no secret that cloud computing helps accounting firms save copious amounts of time, thanks to its enablement of smoother collaboration, easier file management and elimination of IT-related headaches. These time savings allow firms to carry out higher-value activities — but what form do these activities take? Let’s look at four key ones. 

Cloud computing advantages

Cloud computing uses software, servers, networks, databases and intelligence over the internet. It is a catch-all term for any kind of on-demand computing using internet services on a vast network of servers known collectively as the cloud. This contrasts with using and managing your software, servers and other hardware locally.

Some advantages of cloud computing include:

• Teams can work either in the office or fully remotely with access to the cloud
• Centralised data storage means easier sorting and searching for information
• IT costs can be reduced because of resource-pooling and on-demand services
• Companies can pay for only the services, storage and infrastructure they need when they need it
• Staff members don’t need to manage the software themselves
• Advanced encryption on cloud servers can keep data safer than on local hardware
• Automated cloud software saves time and resources by taking care of menial tasks and increasing productivity

Artificial intelligence (AI) is making cloud computing even easier and faster by automating tasks, handling complex computing such as data analysis, enabling conversations with computers as if they were human, and providing advanced analytics. Menial tasks can be automated, freeing up time and resources for companies and letting them concentrate more effort on serving their clients.

Four activities enabled by cloud computing

Let’s look at how cloud computing can specifically benefit accounting firms and audit departments by allowing for the following four valuable activities. 

1. Client care

When you’ve saved time and resources by switching to cloud computing, your company can finally do what it does best: taking care of clients. When administrative tasks are reduced or completed by automation, more time can be spent handling clients and caring for their needs. Specific areas include: 

Client communication

Your clients want to stay on top of any news involving their accounts, so your team should always take a proactive approach and reach out to clients to let them know about any information that would benefit them. 

Connect with clients with software such as cloud-based client portals and secure messaging apps. A client portal, also known as a customer portal, is a web app that lets clients securely log in to connect with the company. This is a way for clients to collaborate with your company without having to meet in an office. 

On a portal such as the Caseware Cloud module, clients can:

• Send and receive private messages
• Share files
• Receive status updates 

Understanding clients

Getting to know your clients can help you better serve them. You may consider using software for surveys and questionnaires so they can open up to you, help you get to the root of their problems and identify pain points. Advanced data analytics can also help you understand your clients and use the analyses in your decision-making process. 

Machine learning and state-of-the-art software can analyse enormous amounts of data, such as the financial data of your clients, to find patterns and sort or visualise it. AI models can help you find opportunities to provide more value-added services. These methods can help you gain insights to make more informed strategic accounting recommendations for your clients. 

Addressing client concerns

Using cloud-based collaboration tools can help your teams work with clients to address any concerns they may have and help solve their problems. Workflow automation can streamline client communication. Messages and reminders can be sent automatically, saving you time and reaching your clients faster.

Part of addressing client concerns is understanding the people themselves and developing a strategy to help serve them better. This can be accomplished with feedback mechanisms. Send surveys after each phone call, email or virtual meeting. Address feedback promptly and use client insights and suggestions to improve your services. 

2. Strategic planning/brainstorming

As the world changes with technological advances and the market evolves, your company can benefit by strategising on how it can stay ahead of the competition and use technology to improve its business operations. 

Cloud-based data analytics can spot market trends so you can satisfy client needs. Hold brainstorming sessions with your management team to spot any weaknesses and areas that need improvement, or come up with new ideas for products and services. 

Strategic planning is not just for your clients. Spend time strategising where your firm is headed, what projects are in the pipeline and how you are going to expand your operations. Now is the time to plan new services and see where you can allocate resources to expand or add new departments. Consider developing an app for your company or using a comprehensive suite of cloud-based tools such as Caseware Cloud.

3. Staff care

It isn’t just your clients who can benefit from cloud computing. Having time and resources freed up can help your staff as well. Good talent can be difficult and costly to retain. Spending the extra energy to keep your employees happy can lead to cost savings in addition to a more productive and happier workforce. 

Cloud software can help you connect with staff like never before. This is true whether you work with everyone on the team in an office setting or fully remotely. Keeping employees engaged may be more important now than ever with many workers out of the office and some teams even dispersed globally.

Your human resources department can develop a career development plan for employees so they can go through training, work toward promotions and improve themselves so they can be more productive and happy and the firm can retain that top talent. 

4. Research

While the technical world is always changing, especially with recent advancements in automation, machine learning and cloud computing in general, other industries are changing as well. That includes the field of accounting. With time gained from the efficiencies the cloud enables, you can stay on top of changes in laws and accounting regulations, new technologies and how they can benefit you and your clients.

Research and development undertakings can include:

• Career training and human resources initiatives
• Compliance and changes in laws and regulations
• Changes in tax laws and their implications for clients 
• Cybersecurity threat mitigation
• Competitor analysis to see what rivals are doing and to exploit any gaps or opportunities
• Developing industry-specific services for clients such as tailoring services to industries or niche market clients
• Conducting SWOT analysis for company improvements — strengths, weaknesses, opportunities and threats
• Emerging technologies such as AI, machine learning, blockchain, software and web apps
• Developing training for employees and management to educate them on new technologies, innovations and new accounting services

As new technologies are developed and the market opens up to new companies taking advantage of them, new clients will spring up and need accounting services. Be sure to research your client’s industry to fully understand their needs and pain points. 

Research can be an ongoing endeavour, helping to improve the company, adding new services based on new technologies, and always servicing clients as best as possible. 

The Caseware Cloud advantage

Caseware Cloud’s enablement of automation, smoother collaboration and simplified file management helps accounting firms get out from under time-consuming, menial tasks and spend more time on higher-value work. See how your accounting firm can realise these advantages.

Meet Caseware AiDA, an artificial intelligence digital assistant changing the face of audit and accounting.  As the latest enhancement to the industry-leading Caseware Cloud platform, AiDA complements Caseware’s comprehensive suite of solutions tailored for accounting, audit, and finance professionals.

AiDA, with its user-friendly interface and intuitive design, is designed to enhance efficiency, ensure compliance, and provide precise, context-aware responses to profession-specific enquiries. It empowers accounting, audit, and finance experts to work more efficiently, collaborate more effectively, and gain deeper insights. 

Whether responding to methodology or compliance questions promptly, supporting the processing and analysis of audit evidence, or assisting with producing key audit work papers and deliverables, AiDA empowers professional users to achieve more with less effort. This will, in turn, drive practice growth and power clients’ financial success.

David Osborne, Chief Executive Officer at Caseware International, remarked,

Caseware AiDA is the future. Our vision is to place powerful tools in the hands of our clients, enabling them to do their work better than they have ever done before. This release is just the beginning of a wave of innovation in AI, and it demonstrates the focus we have on our accelerated roadmap to build out our offering on the Caseware Cloud platform. Caseware AiDA offers powerful digital assistance to accountants and is further proof of how Caseware underpins the relevance of the profession.

The benefits of Caseware AiDA include:

• Enhanced workflow efficiency with precision and relevance – whether summarising lengthy PDFs or providing informed answers about your documentation, AiDA helps you work smarter, not harder.
• Reassurance around security and compliance – with AiDA, no prompts are stored or fed back into the model. Users can trust AiDA to maintain the highest data security and compliance standards that Caseware has consistently delivered for the profession.
• Assistance with routine tasks – AiDA assists with mundane tasks, enabling professionals to focus on strategic decision-making. 
• Focus on quality output – AiDA delivers a safe and fit-for-purpose resource that ensures efficient workflows for clients.

Feedback on AiDA has underscored the demand for tailored, secure AI solutions in professional environments. Danielle Supkis Cheek, VP, Head of Analytics and AI at Caseware International, commented,

We recently showcased AiDA to several clients beyond our beta phase community at Caseware’s 2024 North American User Group. The response was phenomenal, and, in line with our roadmap, we’re excited to continue to enhance AiDA based on user feedback and technological advancements.

Danielle Supkis Cheek, VP, Head of Analytics and AI at Caseware International

Following its successful release in the United States, AiDA is now available in Australia, followed by Canada and Europe later this year. But this is just the beginning. AiDA’s capabilities will constantly evolve, including better context awareness in document interactions and more extensive support for multilingual queries. Get ready for a future where AiDA transforms how accounting and audit professionals manage tasks, offering unparalleled support and efficiency. 

Caseware AiDA (pronounced AY-duh) draws inspiration from Ada Lovelace, whose impact on scientific computing continues to influence generations of technologists and mathematicians worldwide. Caseware encourages users to explore AiDA’s features and experience the future of digital assistance. To see AiDA in action, watch this recording with Sarah Butler, Head of Product and Global Solutions Lead – GenAI, to experience the future of digital assistance.

Accountants are witnessing an era of unprecedented change in their industry, from the rise of new technologies to the ongoing challenges around talent acquisition and retention.

The latest installment of Caseware’s An Executive View video interview series helps practitioners make sense of these top trends of 2024. Join Caseware CEO David Osborne and special guest Jim Bourke, Partner and Managing Director, Advisory Services at Withum, as they offer their insights and advice around such topics as:

• The talent test – How is the industry dealing with the still-pressing challenge of attracting and retaining the talent they need to prosper in the modern age? The speakers offer their analysis of the situation and discuss solutions that can ease the pressure, both in the short and long terms.
• Growth of client advisory services – Today’s clients are looking for more than simple tax and audit services. Find out how firms can respond to these diverse demands and become proficient at providing strategic guidance in an increasingly complex financial and regulatory environment.
• Tech developments – Get an inside perspective from these two thought leaders on how exciting new technologies such as generative AI, automation software and Dynamic Audit Solution (DAS) are revolutionising the field and enabling previously unthought-of possibilities.

Both David and Jim were named to Accounting Today’s recent list of the Top 100 Most Influential People in Accounting. You won’t want to miss their conversation!

Caseware’s 2024 State of Accounting Firms Trends Report – available now – offers accounting professionals a timely and informative look at what’s happening in the industry on a host of today’s most important topics. 

This comprehensive report is the result of a global survey conducted from September to October 2023, gathering insights from thousands of industry practitioners worldwide. The survey covered key trends in accounting, such as rapidly emerging technologies like generative AI, the ongoing talent procurement and retention situation, as well as how new laws and regulations are affecting operations.

Get your free copy of the report today to:

• Discover the latest developments on such key issues as hiring and retaining talent, adopting new technologies and the growth of client advisory services
• See what the biggest practice management challenges are for accounting firms as the new year begins 
• Get timely insights on key trends from accounting industry experts and practitioners

Now more than ever, it’s imperative that accounting professionals understand the forces of change affecting the future of accounting – from the changing nature of how work gets done, to the rise of intelligent technologies that are making what was previously impossible, possible, to the shifting expectations of clients and the new services that are developing to meet them, to the continued growth of both Environmental, Social and Governance (ESG) and Diversity, Equity and Inclusion (DEI) factors. 

Caseware’s third-annual State of Accounting Firms Trends Report helps practices make sense of these developments and provides useful insights to help them confidently manage the obstacles and opportunities that await them in the year ahead – and beyond.

Some of the key questions covered in-depth in the report include:

• What is today’s biggest challenge confronting accounting firms? 
• What kinds of firms will experience the biggest growth in technology adoption over the next year?
• Is the challenge of hiring and retaining talent getting easier to manage, or will it continue to persist into 2024?

Ensure your practice is prepared for whatever change the future may hold. Download your free copy of the 2024 State of Accounting Firms Trends Report to glean more insights on these and other accounting trends.

Let’s examine some of the recommended requirements for the Audit Planning & Risk Assessment external audit phase.

The importance of robust pre-engagement acceptance procedures is clear. An auditor who takes on an engagement that they are either ill-equipped to perform, or are prohibited from performing under relevant legislation or professional standards, can expose the firm to a variety of risks including litigation and reputational.

David Stevens, independent audit consultant & Caseware’s expert content provider.

Audit Engagement File Setup

Ensuring compliance with all relevant Australian Auditing Standards (‘ASAs’) and legislation, while still performing efficient, quality audits can be hard work. ‘Death by checklist’ is a very real concern for all auditors! This has been cleverly addressed with smart technology used in Caseware’s Agile Audit.

• The Optimiser assists you to define the entity and tailors the content so only the relevant ASAs and legislation are included in the workpapers throughout the file.
• Smart procedures within key planning documents offer documentation options, making it quick and easy to tailor the workpapers to suit the specific engagement.
• The built-in integrations import and map client data to leadsheets, materiality, ratio calculations, and the powerful Risk Assessment Report.

Preliminary Engagement Activities

To help your planning process pre-audit, Agile Audit has:

• A smart pre-engagement checklist that address the requirements of ASQC 1 and ASA 220.
• A template Engagement Letter (based on the example in ASA 210 appendix) and a placeholder option for easy and consistent filing of the signed letter.

Planning the Audit Engagement

On planning an audit, Dave Stevens advises:

“One of the key auditing standard objectives of an audit is to plan it so that it will be performed in an effective manner. A broader business objective of the audit firm is for an audit to also be performed in an efficient manner. Measure twice, cut once.

Investing sufficient time to understand the entity and assess identified risks will enable the audit team to devote the resources necessary to tackle risk areas of the audit, and reduce over-auditing in less risky audit areas. The benefits of a well-planned audit in the current period will also have positive implications for subsequent audit engagements.” 

Agile Audit allows auditors to efficiently and effectively document their understanding, their consideration of risk areas, and their overall audit strategy plan.

Features such as:

• Concise ‘Understanding the Entity’ worksheets assist with all relevant considerations required by ASA 240 and 315. 
• The Risk and Controls modules enables easy recording and referencing of identified risks and controls to the planned audit work that will assess and address each.
• The Risk Assessment Report provides a powerful visual snapshot of each financial statement area and the resulting assessments.

There has been a number of discussions recently about the removal of grandfathering under the Corporations Act 2001 (the Act), in this article we are going to look at what has happened and what does it mean as well as answering some frequently asked questions and providing some resources.

What was grandfathering?

The concept of grandfathering (exempting) certain companies from lodging their financial statements with ASIC was introduced as part of an amendment to the Corporations Act in 1995. A grandfathered company was a large proprietary company that met certain criteria including being large since 1995 and have their financial statements audited for all financial years since 1995.

These grandfathered companies had to prepare and have audited their financial statements in accordance with their ‘large proprietary status’ however this information was not put on the public record due to the relief from lodgement.

What has happened?

On 5 August 2022, the Treasury Law Amendment (2022 Measures No. 1) Act 2022 (‘the Act’) was passed by both Houses of Parliament and received royal assent on 10 August 2022.

This Act repealed the 1995 instrument providing grandfathering which means that entities who have had relief from lodgement for 27 years will now their financial information available for inspection through the ASIC registers.

This legislation is effective on a prospective basis immediately and therefore grandfathered companies with a financial year ending on or after 10 August 2022 will not be eligible for lodgement relief (30 June 2022 financial years do not have to lodge).

What changes for these grandfathered companies?

Under the exemption, grandfathered companies were required to prepare financial statements as if they were lodging and have these financial statements audited and therefore the only thing that changes is the lodging on the public record with ASIC of these financial statements.

Frequently asked questions

As discussed above, the only change for grandfathered companies is that they will have to lodge their financial statements on the public record, however we have received a number of questions around these companies which we have answered below – note that the answers assume a 30 June year end.

Are there any issues if the grandfathered company takes advantage of the reporting extension of one month at 30 June 2022 in relation to preparation and audit of their financial statements?

We understand that due to the method in which the grandfathering provisions were amended, if a former grandfathered company does not complete the preparation and audit of the 30 June 2022 financial statements by 31 October 2022 then they will lose the grandfathering for 30 June 2022 and will be required to lodge these financial statements.

Does the former grandfathered company have to lodge general purpose or special purpose financial statements at 30 June 2023?

The former grandfathered company has a legislative requirement to prepare financial statements in accordance with Accounting Standards and therefore in accordance with AASB 1053 Application of Tiers of Australian Accounting Standards, general purpose financial statements will be lodged.

Is there transitional relief at 30 June 2023 for a former grandfathered company moving to general purpose for the first time?

Under AASB 1053, the former grandfathered company should have prepared general purpose financial statements for financial years ending on or after 30 June 2022.

The company should not be preparing general purpose financial statements for the first time at 30 June 2023.

Does the former grandfathered company have to restate the 30 June 2022 financial statements?

Under AASB 1053, the former grandfathered company should have prepared general purpose financial statements for financial years ending on or after 30 June 2022 and should have restated the 30 June 2021 comparatives in those financial statements.

If the financial statements are being audited for the first time, are there any implications?

Companies taking advantage of the grandfathering provisions prior to 30 June 2023 were required to be audited and therefore this is a breach of the Act and therefore the company (and its auditor) will need to consider their reporting obligations to ASIC.

What if the former grandfathered company prepared special purpose financial statements at 30 June 2022?

As noted above, grandfathered companies were required to prepare (and have audited) financial statements in accordance with the Act, i.e., general purpose from 30 June 2022.

If the 30 June 2022 financial statements were special purpose then this is a breach of the Act, and the company (and its auditor) will need to consider their reporting obligations to ASIC.

What if the former grandfathered company is not going to lodge their audited financial statements?

If the grandfathered company is not going to lodge their audited financial statements for financial years ending on or after 10 August 2022 then this is a breach of the Act, and the company (and its auditor) will need to consider their reporting obligations to ASIC.

There’s a famous Maya Angelou quote: “I did then what I knew how to do. Now that I know better, I do better.” This can apply to most things in life, and the digital age of accounting is no exception. 

There was a time when email was revolutionary, lightning-fast compared to other methods of communication. It would have seemed like a wonder for client accounting collaboration. Today, however, there are many options that are faster, more secure and much easier to organize. 

So if you know better, why not do better? Here are a few reasons why accountants shouldn’t use email as their client collaboration software.

A brief history of email

The internet was not always as common as it is now. In the early 1980s, most forms of communication involved writing letters or calling someone by phone. And paying extra if they lived outside your area code. 

The idea of sending a message instantly to anyone, anywhere, from your computer seemed futuristic. But it quickly became common, revolutionizing communication through the 1990s and early 2000s. 

Email removed geographical barriers. It was as fast as digitization. It was reasonably secure, appearing in your online mailbox and able to be deleted when read. At the time, it was simply the most efficient form of communication for accountants to reach out to their clients and for clients to respond in their own time. 

Today, however, it’s one of many forms of digital communication. Instant messaging, in-app communication, online video chats, and more are all at our fingertips. The idea of sending accounting email to a digital inbox simply isn’t world-changing anymore. Nor is it the most efficient option.

Problems with email collaboration

Alright, so email might be a little old-fashioned by now. But why change if it’s served you well for years? If it’s not broken, why fix it? 

The truth is,  using email as a client collaboration tool is problematic. It’s always come with its own issues, but there weren’t better solutions at the time. Now that there are, some of those issues are more glaring.

Security

Most of us have either at one point had our email hacked or we’ve received a message from a friend whose email was hacked. These unfortunate events occur because, quite simply, email is not secure. Email messages aren’t encrypted. As long as a hacker can figure out your password, they can get into your email and access all your messages, and even start sending sensitive information via email themselves. 

Email scams are common, as well as viruses sent through email. Digital security in accounting is an absolute must in today’s world. If you want a truly secure form of client collaboration, an encrypted, in-app style of messaging is usually the best.

Organization

When file-sharing with clients over email, it’s easy for important messages to get lost in the shuffle. Of course, most email servers come with built-in folders for organization. But even then, with so many folders it can be difficult to remember which email went where and all too easy to sort something into the wrong folder. 

One famously problematic issue is the spam folder. This is built into almost all email servers and designed to catch junk email. The problem is that the algorithm that recognizes junk sometimes gets it wrong. If a client is emailing you for the first time, their email can often end up in the spam folder. That important notice you sent to them could do the same on their end. 

On the other hand, cloud-based platforms like Caseware can allow for easy, centralized communication where nothing gets lost in the shuffle. Clients can receive email notifications that they have a message. But even if they lose that email, the message itself will be easy to find in the app. 

Data and analytics

Client communication can be an important source of data and analytics. Clients need to send over important documents about their finances and business that you may need in order to help them with their accounting needs. 

Losing that information through a mass of emails can be more than frustrating. It can slow down your process and lead to a poor rapport with the client. Again, this is where a more centralized, organized option can better serve you and your clients.

Time-wasting

Reviewing multiple emails takes time. Especially if you have to review all the attachments to one and then find the next relevant email through a sea of such messages from all clients. Plus, most email servers will only hold so many emails. At some point, you have to start deleting important messages to make room for more. Your best hope is setting up paper files.

Imagine if all of your communication with one client was in one central location, including all of their documents. And you could easily shift from one communication to the next. Fortunately, this is more than just an idea. It’s very much a possibility with cloud platforms like Caseware PBC Requests. 

Making email collaboration obsolete

Email has its place in the history of accounting and client collaboration. Today, however, more efficient options have simply made it obsolete. 

PBC Requests is just the latest from Caseware’s suite of cloud-based accounting solutions. With PBC Requests, you can communicate with clients easily from a central, encrypted location for optimized organization and security. 

You can manage client requests with automatic tracking and send real-time status updates so you’re always on the ball. Keep all your client communication in one place and send messages individually or to all your clients in bulk.

It’s easier than ever to integrate and review new documents from clients and to automatically designate where they’ll go within your platform. Plus, there’s customizable content so you can easily meet your firm’s, and your client’s, specific needs. 

Want to learn more about how Caseware PBC Requests can help revolutionize your accounting client communication? Contact us today for more information. 

With the pace of business moving faster than ever and client expectations at an all-time high, accounting practices are under pressure to find new operational efficiencies.

A new Caseware white paper, titled The Benefits of Moving Your Accounting Practice to the Cloud, examines how the cloud computing model is helping firms streamline their work and unlock new savings — both in time and money. This revolutionary approach is enabling easier engagement management, improved time-tracking and higher client satisfaction rates, among many other benefits.

Read the white paper today and discover how cloud:

• Differs from traditional practice management technologies
• Eliminates repetitive, tedious processes
• Helps bring in new business
• Can be adopted at a pace that’s right for any firm

As the white paper shows, running a highly efficient accounting practice is no easy task. Challenges exist around every corner: keeping track of hundreds of client files across multiple engagements; making sure staff are tracking their time accurately; waiting for client responses while the clock is ticking toward a deadline; watching work grind to a halt due to unplanned server downtime.

Dealing with these issues costs precious time, impacting everything from team morale to the all-important bottom line. They have, unfortunately, been an inescapable reality for years.

Now, however, the concept of cloud computing is helping many firms put these nagging problems behind them for good. Cloud computing-based technology offers an innovative approach that delivers newfound savings and efficiencies, and provides easier customization capabilities for all types and sizes of organizations. 

The Benefits of Moving Your Accounting Practice to the Cloud will describe the improvements the cloud model makes on traditional approaches. It will also take an in-depth look at the main benefits of moving to the cloud, including time savings, which can be used to carry out work that was previously eaten up by repetitive and tedious processes.

Finally, the paper will describe the hybrid model of cloud computing, an approach that allows for gradual cloud adoption, rather than having to make a full transition. 

Complete the form on the right to download your copy of the white paper!

More and more accounting practices are turning to the cloud for improved efficiency, cost savings and collaboration capabilities. For example, recent research found that 87 percent of accountants intend to use some type of cloud technology for their engagement management work over the next two years.

During the COVID-19 pandemic, accounting firms, like most organizations, were forced to work remotely. This meant team members had to find new ways to work together on projects and to collaborate remotely with clients. Cloud accounting solutions helped many accountants overcome this challenge, and as firms emerge from the pandemic, the cloud continues to allow teams to work collaboratively from wherever they happen to be — at the office, at home or at a client’s site.

Practices that have adopted the cloud model save time, work more seamlessly as a team and are able to access files and key data more easily.

A new Caseware white paper, The Benefits of Moving Your Accounting Practice to the Cloud, takes an in-depth look at the key factors that are driving widespread cloud migration. Let’s look at a few that this valuable asset covers:

Better client collaboration

For years, accountants and their clients have collaborated by email. If you needed a file, you sent an email message to your client and they would respond by emailing back the appropriate document. This system worked better than shuffling heavy boxes stuffed with paper files back and forth, but the cloud offers new levels of collaboration and security.

Through the cloud, you can create client portals which allow you and your clients to collaborate on files and communicate in real time, securely. If you and a client are both working on a file in the cloud, you can see changes as they occur without needing to worry if you’re working on the most recent version. You can also message clients through a cloud portal and see their responses in a single thread, ensuring you don’t miss any responses.

A more secure environment

Cloud environments are typically secured through passwords, user access controls and multi-factor authentication. User access controls are crucial because they restrict access to important data. Only users who are approved to access particular files by the person controlling cloud security (often a system administrator) can see them.

This helps you keep sensitive information secure. User access controls are also helpful during audits because they allow you to restrict access to only those accountants working on the audit, preventing potential conflicts of interest.

Superior insights

The cloud gives you one central repository for all your files and documents. This means you don’t have to search multiple drives to find the information you’re looking for. All the information you need is in one location.

You can save years, or even decades, of data and engagement files in the cloud. And because all your data is in one location, you can easily apply analytics solutions to your data, helping you better identify trends, establish benchmarks and identify potential risks.

Equip yourself for tomorrow’s challenges

The cloud is playing a crucial role in accounting practices, helping them work better with clients, support hybrid work models and deliver more insights. If you’re interested in shifting to the cloud, but are worried about disrupting your existing processes, you can take a more gradual approach by moving to a hybrid cloud model that combines your familiar desktop applications with cloud capabilities. Whichever cloud approach you take, you’ll be making your practice more efficient and competitive.

For a more detailed examination of how the cloud can help you get an edge on your competitors, download your FREE copy of the Caseware white paper, The Benefits of Moving Your Accounting Practice to the Cloud.