Digital Transformation in Accounting

By Adam Walters | 08/15/2023 | 2 min read

More accounting and CPA firms are focusing on making a digital transformation, but what does that mean and what are the benefits of doing it? Learn more about what digital transformation is for accounting and the benefits IRIS practice management solutions can bring to your firm.

What Is Digital Transformation?

Digital transformation is when an organization integrates digital technology into its daily processes that significantly impact its operations.

An essential part of this is how the technology is affecting or improving operations. If technology is added to an organization and the workflow continues down the same path as always, just with digital assistance, it has not been a digital transformation.

Digital transformation in accounting is essential because when the right solutions are implemented and integrated within an organization, it can help streamline the firm and allow it to become more productive and profitable.

Digital Transformation in Client-Centric Services

With more accounting and CPA firms focusing on improving the customer experience, digital transformation plays a prominent role.

Client expectations are changing, and more clients expect a personalized touch to their service. This requires more communication and transparency, which usually translates to more work for accountants. However, digital transformation is changing that expectation.

Rather than a client’s additional expectations requiring more work for an accountant, practice management solutions can step in and streamline and even automate some of those processes. Customers can get the service they want, strengthening their relationship with the firm but requiring less work.

Digital Transformation in Security and Privacy

Paired with the move toward digital transformation comes a new focus on security and privacy. Because accountants deal with such sensitive information, digital solutions must be designed to protect their clients’ information.

One of the most complicated parts of keeping protected against digital threats is the ever-evolving nature of digital threats. A cutting-edge threat from six months ago is old news, so updates and patches are always necessary. The tools used as part of a firm’s digital transformation need to not only be powerful tools that streamline the functions and processes of a firm, but they also must stay secure from digital threats.

IRIS’s practice management solutions help practices comply with federal, state, and local security regulations. With frequent and constant updates, you can rest easy knowing your data is secure.

Achieve More with IRIS Practice Management Solutions

IRIS’s practice management solutions help streamline your firm by providing you with the professional-grade tools you need to succeed. Our products are built from the ground up with accountants in mind to ensure we provide you with what you need.