4 Innovative Ways to Modernize Your Accounting Firm in 2021

It is easy to be overwhelmed by the prospects of modernizing your accounting business. As it stands, there are several actions to take. There are cloud-based accounting tools to introduce, going paperless, exploring new ways to handle the customers and staff, and so on. However, the change is worthwhile and can be made at your convenient time. 


For instance, implementing an electronic merchant system can help in boosting your organization’s revenues over time. Your accounting company will become more effective than ever as you modernize it, and your customers will appreciate the better service. 


Here are the five ways you can modernize your accounting firm in 2021.


#1 Take Advantage of Online Payments


Technology can prove to a significant advantage for CPAs and accountants. It simplifies the process of running a profitable company. On the other hand, technology has also aided in the rise of client demands, especially in terms of convenient payment options. They want to opt for systems that assist them in sending electronic checks.  


According to the most recent survey, 60% of bills are charged electronically or automatically. Based on this information, it’s fair to say that most of your customers choose to pay by credit card, debit card, or eCheck online. Thus opting for Premium Payments’ payment processing for accounting firms would be the best option.


#2 Go Paperless


When it comes to a paperless workplace, you might not realize it, but papers use up a lot of money. According to the EPA, paper accounts for 90% of all workplace waste because the average office employee uses about two pounds of paper every day.


Furthermore, although a typical four-drawer filing cabinet can only take up a few feet of floor space when locked, an employee must have at least 10-15 square feet of space to access the files inside. That’s a lot of floor space you should be using for something else, particularly if your office has more than one filing cabinet.


Don’t forget about the hours you and your colleagues waste looking for a single document among hundreds of them. Guess what the remedy is? Well, you can opt to receive echeck, which will eventually reduce your electronic waste and help you streamline your operations. 


All you need to do is enter the client’s payment details, the amount to be paid, and the rate, and the transactions will automatically execute at the specified interval.


#3 Opt for a Practice Management System


Try updating the majority of the firm’s processes with firms payment solutions for accountants in addition to taking a more modern approach to your paperwork. Practice management software allows you to have more control over almost any area of your company.


It cuts down time spent on mundane office tasks, allowing you to work on more critical projects. Premium applications provide dashboards and analytics software to assist you with adequately managing engagements and streamlining workflows.


#4 Make the Onboarding Process More Effective


Prioritizing customer experience should be at the top of your list. The onboarding process is one of the most important facets of the customer experience. After a customer signs a services agreement, what comes next sets the stage for the remainder of the relationship. Setting up a merchant account solution will help you do just that.


These first encounters would significantly impact whether the customer wishes to continue with your practice in the long run or go to a rival when the deal expires. It might seem counterintuitive, but the better you can systematize and simplify the onboarding process, the simpler it would be to have a more customized client experience. Call us at (954)-934-9004 or (305)-747-5855 to know more.

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