With technological advances, cloud-based solutions, and evolving service offerings, the tax accounting profession has changed. And along with it, the way firms measure efficiency is changing too. Now that technology allows firms to automate tasks, it’s less about hours worked, and more about the value-added services each employee can bring to clients. As well as about the relationships they’re building. That’s why the focus on building better metrics has shifted, and firms are measuring success in these three important ways.
Project Management with Workflow Tracking Software
Now that you’re not just simply churning through tax returns, project management has become a bit more complicated. To efficiently manage workflow, CCH Axcess™ Workstream streamlines and standardizes the project management process so your firm can manage resources more effectively, have visibility into workload, and increase accountability. Built-in dashboards, notifications, and electronic routing sheets allow enhanced client service since everyone has access to project details and timelines.
Better Business Intelligence Tools
Every firm is unique, and it’s essential to ensure that you’re tracking what matters most to your clients—and your bottom line. Most firms don’t have the time or skillset to create custom dashboards and reports. But that’s no problem. Wolters Kluwer can build custom business intelligence dashboards based on your preferences, in almost any platform.
Deeper Dive into Data Analytics
Each firm needs to track what they value most. And they must continually find ways to improve the data they collect and how they use it. If your staff has data analytics skills—or if they’re ready to learn—get set to take it to the next level. Microsoft Power BI web-based training walks step-by-step through the fundamental data analytics skills. Then, take the next step with the Power BI Workshop where you can learn to create custom reports and data visualizations from your own data.
To learn more about new methods for measuring performance with better metrics, download Measuring Efficiency: Are You Tracking the Right Metrics?