Time is Money, For Accounting Firms

Image courtesy of ‘geek and poke’

“Time is money” – it’s a phrase we bandy about, but what if it impacted your business in such a way that doing things slower resulted in penalty fines for your firm and your clients? The logical solution is to work faster, but with the challenges of migrating from a legacy IT system, to staff training, to choosing from a myriad of productivity solutions to fit your business requirements, it may seem all too daunting.

An easy win adopted by the likes of accounting firms such as MacKenzie Strategic and Northern Business Consultants (NBC) is to tackle common pain points – such as cutting down on paperwork to move towards a streamlined paperless environment. At ATSA 2015(Accounting Technology Showcase Australia) in October, we ran a survey to find out what other accounting firms thought about this:

Notion of ‘work’ is challenged

The old fashioned notion of ‘work’ is out the door – no longer do businesses expect, nor want, pencil pushers for employees (or in this case, paper pushers). Working smarter is important for 67% of survey respondents who found manually following up on paper-based processes to be their top frustration, followed by 49% who are most peeved by the time and resources wasted when mistakes and edits are made on documents.

Convenience trumps cost

Compared to 20% of survey respondents who said competitive pricing is a top consideration when making a decision to go paperless, an overwhelming 71% said ease of deployment and use is the most important factor, while 43% singled out mobility as a key factor.

Electronic signatures are here to stay

No longer a ‘nice to have’ option, accounting firms are demanding for e-signatures to be deployed across the business with 86% of survey respondents finding it the most useful paperless office feature. This is followed by the ability to convert PDFs into multiple file formats (61%) such as Word, Excel and PowerPoint, and the option to secure sensitive documents with passwords (39%). If you want to learn more about this and the entire accounting field, in general, to make a successful career change consider getting an accounting degree to launch yourself into a rewarding career.

Amanda Kennan MacKenzie from MacKenzie Strategic shares her firm’s paperless journey on stage at ATSA alongside Nitro’s APAC Director, Adam Nowiski.

Nitro’s powerful suite of features includes all these and more. With the familiarity of a Microsoft ribbon user interface, Nitro Pro – our desktop solution for creating and converting documents, is easy to pick up with minimal or no training, while its ability to launch directly into Nitro Cloud – our cloud solution for sharing, collaborating and signing documents online on any device, gives internal and external parties the freedom to complete work wherever they may be. It’s nice to see the accounting field itself saving time, after all the hard work it puts into doing the same for businesses, for example you can now contact an accountant who offers all kinds of business advice, not just financial.

So while it’s impossible to manufacture more time in your day, the option to make time really count is already here. Test drive Nitro with a free team trial, or talk to us about our volume license program today.

Like to see how this year’s survey compares to the one we did at ATSA 2014? Check out our post, Accounting for Paper-Driven Inefficiencies.

*An infographic showcasing the complete results of the ATSA/Nitro survey will be available here shortly.*

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