Transforming Client Accounting Blog

A Special Message from Erik Asgeirsson, President and Chief Executive Officer, CPA2Biz, Inc.

The world of client accounting is changing. New cloud-based technologies are transforming the way CPAs will work and interact with their clients for years to come. These new technologies are increasing the productivity and profitability for many firms. The AICPA Trusted Business Advisor^SM Solutions featured on this web site, including Bill.com, Intacct, and Paychex, are designed to help the CPA community harness the power of these new technologies.

We are excited to announce the launch of CPA2Biz's all-new web site and blog dedicated to new advances in client accounting for the CPA community. Now, on a single web site, you will have access to the latest information on cloud-based technologies, tools, and business programs that will transform the way you do business with clients.

We'll be posting timely articles to this blog that you'll find useful in your day-to-day and long-range business operations. Of course, we want to hear what you think. Please don't hesitate to comment on our posts, ask questions, and share your thoughts and experiences using the new technologies featured on this site, including:

• Intacct: On-demand financial management and accounting tools
• Bill.com: Paperless bill management solutions
• Paychex: Payroll processing, HR, and 401(k) retirement services
• Trusted Business Advisor training and workshops
• Marketing solutions for CPA firms to help you attract and win new business
• And much more.

Over the last year, we have noticed a dramatic change in the rate that accounting firms are adopting these web- or cloud-based technologies. We believe it is extremely important for all firms to understand the positive impact of these changes. In particular, these new web-based tools will improve the standard and quality of services you can provide to your clients, while helping your firm increase productivity and profitability. One result of these new advances in client accounting is that firms, like yours, are in a better position to provide higher level (and more profitable) services to your clients, from budget planning and cash flow analysis to virtual CFO and business advisory services. We want to know what you think. So please share your thoughts here.

From time to time, we also hope to have thought leaders and other experts as guest bloggers. This will be your opportunity to read what these experts are thinking first-hand, as well as to comment on their posts and ask them questions.

Once again, welcome to our new web site and blog dedicated to your client accounting practice. We look forward to seeing you online.

Sincerely,
Erik Asgeirsson
President and Chief Executive Officer, CPA2Biz, Inc.

A recent article in The Wall Street Journal entitled "For Rent: Chief Financial Officer. Firms Outsource a Top Job as Cheaper Than Hiring Their Own Executive" reports how more and more small businesses are leveraging outsourced CFO services – especially during this difficult economic period. One of the key benefits of a cloud-based solution like Intacct Accountant Edition is that it makes it possible for accounting firms and their staff to provide higher value services to clients, such as outsourced or virtual CFO services.

According to the article, "Some small-business owners in need of accounting help to balance their books and guide them out of a financial black hole are renting CFOs rather than hiring them. The strategy comes at a time when the deep recession has forced small companies to look for money-saving alternatives that can yield good returns yet avoid substantial overhead costs."

These CFOs often have a bigger role than simply keeping track of the company's books. The article goes on to state, "They work with business owners to manage their accounting and finance departments, connect them with business sources that can help them grow and provide financial data to help make strategic long-term or day-to-day decisions."

The WSJ article serves as a good introduction to the changing landscape of client accounting services and how you can shift your firm's focus to more profitable services, while increasing the overall efficiency and profitability of the services you already offer. Read the full article for some quick insights into the benefits and advantages of outsourced or virtual CFO services. You can find the SaaS solutions you need, such as Bill.com and Intacct, right on this web site that can help you get started down this lucrative new path to increased revenue and profits.

Is your accounting firm currently offering outsourced CFO services to your clients? Have SaaS or cloud-based solutions played a part in your ability to offer these enhanced business and financial services to your clients? Please share your thoughts and experiences here.

This blog is managed by CPA2Biz, a subsidiary of the AICPA. Dedicated to serving the needs of the accounting profession, blog posts will address timely topics, news, trends in the profession, and new advances in technology and training that can affect your firm and your clients. In short, if it affects your client accounting services practice, we'll cover it here. Most importantly, we want to hear from you. What are your experiences with new on-demand tools and web-based accounting solutions? What challenges do you face in your practice? Please share your experiences, thoughts and questions here.