Introduction to Managed IT Services for Accountants
Accounting professionals are becoming increasingly reliant on technology to manage financial records, file tax returns, and communicate with clients. However, IT challenges, such as system breakdowns and security threats, can pose significant hurdles. A recent survey highlighted that office professionals waste approximately 3 hours per week dealing with IT issues, accumulating to around 144 hours of non-productivity annually. For CPA firms, the implications can be even more severe.
What are Managed IT Services?
Historically, businesses reached out to IT support firms only when they faced technical issues, leading to unpredicted high charges and call-out fees. With advancements in digital broadband technology, the trend has shifted towards a more predictable, subscription-based model.
Managed IT Services refers to the proactive outsourcing of IT functions to third-party providers who offer round-the-clock support. Instead of waiting for problems to arise, these services are designed to identify and rectify potential issues remotely, ensuring seamless operations. This approach not only guarantees timely problem resolution but also equips businesses with the latest software updates and security protocols.
Benefits for Accounting Professionals
1. Enhanced Data Security:
For CPA firms, safeguarding client data is essential. Managed IT Services emphasize three core concepts of data security:
- Capture: Ensuring data, whether received via email or uploaded through websites, is done securely. For instance, is your client's financial data sent to your email securely? Managed IT Services can set up secure file sharing platforms and provide cloud-based accountancy software packages to guarantee data security during transfer.
- Manage: Regulations like the IRC Section 6107(b) necessitate that accountancy records be retained for three to five years following tax return filing. An IT company can provide consultancy to outline digital document management requirements, ensuring compliance.
- Protect: It's essential to control who has access to sensitive financial data. Managed IT services facilitate the creation of tiered user accounts, ensuring only authorized personnel can access crucial information. They also ensure data is backed up to remote locations, reducing risks from physical threats like fires.
2. Seamless Software Integration:
Cloud-based accountancy software has become standard in the industry. Managed IT services ensure that all software tools, from tax preparation platforms to CRM systems, integrate smoothly, allowing for more efficient workflows.
3. Work from Anywhere:
For CPA firms operating over multiple locations, remote data access is crucial. Managed IT providers offer solutions like Virtual Private Networks (VPNs) and cloud storage, ensuring data can be accessed securely from any location.
4. Cost Efficiency:
By adopting a subscription-based model, CPA firms can anticipate IT expenses, leading to more predictable budgeting. Moreover, by reducing call-out charges and proactively addressing issues, firms can achieve significant savings.
5. 24/7 Support:
For accounting professionals, particularly during peak tax seasons, downtime can be costly. Managed IT services offer continuous support, ensuring that any tech issues are addressed promptly.
Final Thoughts & Next Steps
In a world where technology is integral to business success, accounting professionals cannot afford to lag. Investing in managed IT services ensures the efficient functioning of technological infrastructure, providing peace of mind that the firm’s data is secure, compliant, and accessible. For CPA firms aiming to remain competitive, managed IT services are an indispensable asset.
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