How to Make the Cloud Count for CPA Firms and Accountants
Blog post from Box
Digital transformation is significantly affecting the accounting industry, with a study by CPA.com indicating that 90% of Certified Public Accountants (CPAs) believe digital business process delivery will be a key differentiator for accounting firms in the next five years. To remain competitive amidst rising labor costs and fee pressures, accounting firms are increasingly turning to cloud software to enable CPAs to work more efficiently by accessing documents and collaborating with clients from anywhere. A critical aspect of this transition is the adoption of self-serve technology, which allows CPAs to perform tasks independently, such as setting up shared workspaces and sharing documents, thereby enhancing productivity and profitability. However, these advancements must not compromise enterprise-grade security or compliance with regulations like FINRA, HIPPA, and SEC guidelines, although it is feasible to balance these objectives.
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