The pace of mergers and acquisitions in the CPA community has picked up in the past few years – particularly among mid-sized firms. Firms are often doubling in size in an effort to expand capabilities and become more competitive.
So let’s say you work at one of these firms that recently merged. The good news is you have more resources. The side effect is you have much more complex technology needs.
Here’s what you are likely facing.
- Your firm is now more geographically spread out
- You’re faced with converting or consolidating technologies
- Your end user community has grown and wants support
- Decisions need to be made about standardization, staff training and consistent processes
The environment is complicated; the end user needs are growing and you still have to deliver quality services to your clients. Now what? Here are some thoughts.
- IT is no longer a blocking and tackling, keep the servers running and users from complaining function. IT Leaders who understand the business needs and how to apply technology effectively will be in demand.
- You’ve likely doubled the number of manual activities in your tax and audit processes and have increased variation. Renewed focus on automation would pay dividends.
- Improve your reporting and data mining capabilities. Early visibility in performance and methodology will allow you to cut off potential downstream issues.