What is the first step you would recommend for organizations trying to figure out where to start with adopting new technologies?
Barry K. Hall, CPA, CGMA
INCPAS Chair
Kruggel Lawton CPAs
“Since we are seeing a reduction in accounting graduates, we need to find technological answers to help us with more repetitive, data entry type tasks that have historically been performed by new staff. We need to use technology to help us be more efficient and accurate in our engagements in areas such as identifying risks and ‘outlier’ transactions. For many smaller firms, the question is where to even begin. I would suggest forming a committee to review what technology is out there that your firm would benefit from. This group should consist of tech-savvy individuals in your firm. Choose just one technological initiative to implement. If you try too many things at once, the most likely outcome is frustration. Pick something that will be a benefit but isn’t overwhelming to implement. It will help build traction for future initiatives.”
Diane L. Sturek, CPA, MAcc
INCPAS Chair-Elect
Indiana University Kelley School of Business
“Start by determining what functions and information are essential to users. Gaining the perspective of those needing information will enable entities adopting new technologies to determine how best to meet the organization’s needs. When technologies are adopted without user input, important functions may be lost to the detriment of the users and the organization. As an educator, I believe it is important to expose students to a variety of technologies so they are comfortable using them and acquiring new skills.”
Jeremy E. Gallion, CPA
INCPAS Vice Chair
EY
“When deciding where to start with adopting new technologies, you first need to determine your strategy. The key is deciding what you want to get out of the new technologies—cost savings, more efficiency, ease of use, etc. You should get input from various people in the organization to prioritize the issues/problems you want to solve, and this can be done in a variety of ways such as establishing a committee, performing surveys, etc. Identifying the highest priority items and establishing where you want to go is key, as you will not be able to do it all at once.”
Carrie B. Minnich, CPA, Macct
INCPAS Vice Chair
Dulin, Ward & DeWald, Inc.
“In order to adopt new technologies that will truly benefit your organization, you have to first understand the different technologies available. Learn what each does, the pros and cons, and how they can improve your organization. Reach out to other firms or organizations that have already implemented the technology to get their insight. As part of the INCPAS Genesis Network, our firms regularly share our experiences with implementing new technology.”
Lisa D. Tressler, CPA
INCPAS Vice Chair
RBSK Partners PC
“When an organization is deciding whether to adopt a new technology, it is important to determine if that technology will help the company reach its goals. It may be a cool ‘new thing,’ but if it isn’t advancing your firm down its path to success, it isn’t right for you. Implementing new technologies is often a long and difficult process, so being certain the benefits will outweigh the costs is crucial. Reaching out to other peers who use this technology can be helpful as well. Did it deliver on all of their expectations? Will you receive a long-term benefit from its use? Does the vendor have a reputation for good customer service and continued innovation? These are important areas to consider when determining whether adopting a new technology is worth pursuing.”