Unlocking Efficiency: How IRIS Practice Management Software Transforms Accounting Firms

By Adam Walters | 08/17/2023 | 4 min read

The largest problem accounting firms face is a balancing act between finding and keeping talent in a highly competitive market, while still meeting the demands of their clients without overburdening and burning out their employees. With the shrinking labor market, it can be difficult for firms to find qualified employees to work for them, but retaining that talent is even more difficult. Each firm needs help finding a way to get the most efficiency from workers without creating a hostile work environment.

Many firms are discovering that by using the right technology, they can do significantly more without requiring their team to work late hours and long weekends. Technology, specifically practice management software, is helping firms streamline their entire firm.

Discover how technology helps improve all roles within an accounting firm, helping the firm save time and money while becoming more profitable.

Invest in Your Future

IRIS’s practice management solutions are tailored to help you do more every day without forcing you to work more. We aim to help streamline your workflow, making it easier to complete what you’re already doing.

Practice management software is all about helping you do more. We’re giving you more resources, more tools, and more automation to increase efficiency and help you avoid feeling burnt out or overwhelmed. 

By investing in practice management now, you’re investing in your future and putting your foot on the gas to help your practice grow and increase revenue.

6 Ways Technology Helps Firms Do More

Here are six key ways that technology is helping firms unlock their efficiency.

Simplify Compliance

Not only is the market continually changing, but regulatory standards are constantly in flux. The processes that were an industry standard five years ago are now outdated. 

Keeping up with all of the regulatory compliance standards can be a full-time job. If your practice has clients in different states, the standards become even more complex, as you’re changing between different local and state requirements that must be met. 

IRIS’s practice management solutions stay up-to-date with all compliance regulations, so you can rest easy and spend your time focusing on your clients.

1.   Centralize Task Assignment

Practice management software helps to centralize task assignments. By keeping all tasks in a centralized location, nothing falls through the gaps, is overlooked, or forgotten. Centralized task assignment also ensures that no one has to take more than they can. Tracking each team member’s task load is easy, ensuring no one is overbooked or overworked. It also helps managers find those employees with open time in their schedules, helping to ensure that everyone carries an equal load of tasks.

2.   Progress Tracking

Progress tracking through a practice management solution helps you see the status of every task at a glance. Rather than having to sort through multiple locations or checking in with each team member, you can have a clear idea of the status of your firm and what is being worked on, at a glance.

3.   Collaboration

Technology helps streamline collaboration across your team. Rather than only being able to collaborate when people are together at the same time in the office, practice management solutions for accounting firms give you the ability to collaborate with anyone asynchronously. You can leave notes, edit, and revise projects through the software when it suits you, without having to wait for other team members.

4.   Communication

The success of any CPA firm hinges on good communication. Accurate, timely, and clear communication needs to happen internally between partners, managers, and staff, but that same level of transparency needs to be extended externally to clients. Practice management software streamlines all communication, making it easy to share information and track conversation histories.

5.   Automation

For many firms, repetitive manual tasks, like data entry and form completion, require too much time, and they come with a high rate of errors. Automation tools in practice management solutions give firms the technology needed to automate tasks so they are done with 100% accuracy, every time. Every task that is automated allows your team to focus on more profitable and meaningful projects.

6.   Improve Client Relationships

Often overlooked but still worth mentioning is the impact technology can play when trying to strengthen your existing client relationships. The transparency and communication provided by practice management solutions create a stronger relationship by providing your clients with a reliable, stable, and transparent form of communication that helps them understand exactly what your firm is doing for them.

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