Covid-19 Related Technology Issues

The Covid-19 pandemic has brought to light Covid-19 related technology issues for many CPA firms.  Although, Brian Tankersley, Director of Strategic Relationships with K2 Enterprises, notes that ‘with challenges come new opportunities’ from this pandemic.  So, he recently sat down with Cathy Rowe, Director of Accounting and Audit Solutions at Wolters Kluwer to discuss some of those challenges. Further, he also provided some best practices and new opportunities to consider while working remotely. This blog summarizes just a bit of what Brian shared regarding Covid-19 related technology issues.

Best Practices

For example, one best practice recommendation is to implement a home TV – 1080p or higher – as a second monitor. Of course, working from the couch isn’t ideal. However, ensuring your staff has the necessary hardware to be efficient will improve their productivity.  Moreover, if you think working remotely may become more permanent, then investing in additional monitors for use in home offices is smart. Especially since the cost of monitors has come down drastically.

Challenges

Regarding challenges, one that Brian talks about is transition and capacity issues due to moving an entire workforce remote.  Many firms had VPNs and the ability to work remotely prior to Covid-19. However, most didn’t stress-test those environments with their full firm working remotely. As a result, the current performance is less than expected.  Typically, staff are use to great connectivity in the office. Now, though, most are fighting their neighbors for available bandwidth.  Therefore, improving this area should be on your list for the future. Particularly if working remotely will become commonplace for your firm. Furthermore, consider cloud-based applications like CCH Axcess because they give staff anywhere, anytime access.

New Opportunities

Also, the pandemic offers firms some new opportunities. For example, clients need assistance with the paycheck protection plan.  Without a doubt, many clients have questions about this. Additionally, some may need assistance with the application process or other loan compliance requirements. So, expanding your client advisory services without compromising the firm’s independence should be a consideration.

Conclusion

To conclude, this blog is a mere glimpse of the valuable insights Brian shared during the Audit Talks Podcast, Covid-19 Related Technology Issues with Brian Tankersley. We are certainly working in unprecedented times, yet firms are still finding opportunities to grow.  So, take this time to analyze your situation for future growth and productivity ideas. To start, watch Brian’s full 10-minute podcast here.

Wolters Kluwer is right by your side to help you stay up to date with audit, tax and compliance changes to support your ability to work remotely. Please visit our Coronavirus (COVID-19) Resource Page for Tax & Accounting Professionals

#ForwardTogether #ForwardsNotBackward

AUTHOR

Kim Conaway

All stories by: Kim Conaway