3 Reasons Virtual Firms are More Successful

Just because a firm has been around for generations doesn’t mean it has to be stuck in the past. There’s no better proof than third-generation family-owned accounting firm Gineris & Associates. By transitioning the firm to cloud-based software, Managing Principal Patrick Gineris has created a virtual firm that has all of the history and trust of a traditional firm, with none of the old stumbling blocks. In a new case study, Gineris explains some of the ways the new virtual firms model has helped his firm excel.

Virtual firms achieve unrestrained growth

Breaking down the boundaries of geography and expanding beyond a physical office opened up growth opportunities that wouldn’t have been possible with a traditional office. According to Gineris, “It’s just amazing. I thought we were at capacity. All of a sudden, I don’t have the space and time limitations I had just a few years ago. It’s a brand new game…” Gineris went on to explain, “We now have much greater capacity for growth. We can hire more local admin staff at a lower hourly rate while employing outstanding tax professionals from across the country.”

Virtual firms measure what’s important

Simple attendance is not what makes a good accounting firm. Instead, successful firms measure productivity and reward staff who provide valuable client service. Gineris says, “With CCH Axcess, I go to the physical office only about 16 hours per week during tax season. Sales are up. My remote staff is on average 50% more productive than onsite staff was, and there’s no firm administration or downtime. Every minute is allocated to a client. I will never go back to a traditional firm structure.”

Virtual firms have staffing options

While traditional firms have a limited pool of talent to choose from, virtual firms can hire staff from anywhere. And remote work is so popular that firms advertising remote jobs see a huge increase in the number of applicants. “The remote digital office made possible with CCH Axcess has been tremendous for recruitment,” says Gineris. “I told our HR professional I wanted to hire another tax professional, and in one week, we received 100 resumes. I don’t think I’d have been able to hire any of them five years ago. They were so highly qualified, and they wanted to work from home.”

Learn more about how Gineris & Associates used technology to transform for the future. Download the case study: Gineris & Associates, Ltd. Increases Sales and Productivity after Becoming a Virtual, Paperless Firm.

AUTHOR

Aimee Hall

Product Marketing Manager at Wolters Kluwer Tax & Accounting

All stories by: Aimee Hall