After more than 30 years in the accounting profession, I find that many firm leaders continue to ask the same question: Should we use a software suite or build an ecosystem of cloud-based apps? Having just closed out Rootworks’ annual Virtual Inspire conference (with nearly 1,500 in attendance), I found this topic to still be front of mind for many partners and lead staff.
The answer is not black and white. It’s not either/or. It’s more a question of what works for the firm and how you build upon what you already have in place. The fact is that most firms are already operating under a hybrid suite-cloud app model. With so many software providers offering open APIs (application programming interfaces — a software intermediary that allows two applications to talk to each other), it’s easier than ever to build a tech stack made up of suite-based and best-of-breed applications.
Times have changed dramatically over the past several years. The days of operating a firm solely using an all-in-one software suite are over. Firms now have a choice of the solutions that comprise their technology ecosystem. Thanks to open APIs, the same level of connectivity can be achieved that has traditionally been available in software suites.
Today, firms can have the best of both worlds — powerful solutions from software-suite and stand-alone vendors. And just imagine how much faster your firm can adapt to change and solve issues when you adopt innovation technologies that are constantly innovating to support accounting professionals in the modern digital age. Overall, this means you no longer have to rely on a single vendor to fulfill your firm’s technology needs.
Be intentional about building a modern digital ecosystem
With so many premium cloud technology options available, firms have the ability to build a modern digital culture with relative ease. This means building a technology stack that allows staff to perform duties at peak productivity, working remotely or from the office — while also supporting clients with the convenience of online capabilities.
Like your firm’s broad work culture, your digital culture is made up of the collective beliefs and behaviors within your organization that drive your internal processes and client interactions. The big question is: Do you have a strong digital culture? Have you created one that is modern and one that meets the needs of today’s technologically savvy and mobile-focused workforce and clients? You have to be intentional about your firm’s digital culture — always looking for new innovations to meet the modern needs of staff and clients.
To be intentional about your digital culture requires that you consistently research and select only the best solutions. It means implementing modern, best-of-breed applications that connect with other tools and enhance your digital stack.
Considering the needs (and demands) of today’s tech-savvy clients, the idea of selecting a tool for your digital stack just because the “parts” integrate no longer makes sense. You have to think differently about your digital environment and look beyond basic integration. Be sure to ask a few core questions:
- Does our digital culture embrace modern applications and tools?
- Does our technology support a modern, frictionless client experience?
- Does our tech stack support mobile capabilities?
- Does our technology offer the highest level of security?
To keep up in a rapidly changing technology world requires time and attention. It requires firms to actively seek out and evaluate multiple solutions to identify the best fitting and most powerful solutions to support the ever-changing needs of staff and clients.
Make 2021 the year you redefine your digital culture
It’s safe to say that many accounting professionals are creatures of habit. Software suites have been around for decades, and the comfort of an all-in-one suite is hard to let go of. However, the fact remains that most of the leading cloud applications offer APIs that enable cross-connectivity among disparate solutions. So why stick with the status quo? Make 2021 the year you shake things up and really put in the work to evaluate and redefine your tech stack.
The choices you make over the next few months will set the stage for the types of employees and clients you attract — modern, tech-savvy, ideal. We are firmly in a new digital era, which demands a new, modern digital strategy. Resolve to bolster your digital culture in the new year!
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