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Future Cloud Investment

Last year in our research, "Can the accounting profession keep up with clients and the cloud" we heard from our research partner about the future for cloud. According to capioIT, we may now be entering the tipping point "where the hype of potential outcomes from technology meets the reality". Things like accelerated adoption of cloud technology across enterprise and government is also a factor in adoption.

So for cloud let's look at what has happened in the past six months in the wider business community and assess how this could be an indicator for future growth?

Well the cloud infrastructure service providers have been working on a range of applications and business services for all sizes of companies and the bottom line is looking good for them. In fact the world's biggest players – Microsoft, Google, Amazon, IBM and Salesforce – raked in US$16 billion in 2014. Read more…

CCH iFirm Cloud Tax for Australia

Learn about the NEW CCH iFirm Cloud Tax Solution: bringing you automated real-time tax updates, expert content, easy functionality, electronic lodgement of returns and streamlined conversion making it easy to move.

The latest cloud-based tax solution, from Wolters Kluwer, CCH – trusted by accountants for over 45 years.

Join one of our complimentary webinars on either the 16th or 29th April.



With Craig Weston, Director, Inspired Accountants

Inspired Accountants is one of Auckland's most dynamic professional practices. Craig Weston spoke to CCH about his firm's transformation using CCH iFirm.

CCH – Craig, can you explain where your practice was at and what was holding it back? 

Craig Weston: Inspired Accountants is a team of six people who are passionate about making a difference for our many clients. We take pride in providing efficient accounting and tax services, financial coaching and advice, plus cloud software set up and support to New Zealand business. And we also have specialist areas looking after the needs of franchise operators and the education sector.

We operate as a virtual professional accountancy practice, with our group plus contractors coming together fortnightly to physically meet and set practice priorities. It was critical to have a holistic view of clients and our workloads if we were to improve customer service as well as our productivity and profitability.

Each accounting professional works with a range of clients and is expected to meet an agreed benchmark for billable activities. We needed to better manage daily, weekly, monthly and annual work in progress to reduce bottlenecks and smooth out client service delivery times. Read more…

Screwdrivers, People and the Cloud

I've always had a strong passion for understanding how everything works together at the most intricate level. Yes, I was one of 'those' kids. One that would have to tear everything apart, in a burning desire, to truly appreciate the inner workings of the bigger picture.

On a standard day in kindergarten, with a screwdriver in tow, I'd find the closest old phone or TV and have it pulled apart into its respective components and put back together (mostly) within the hour.

Over the years, this passion for understanding everything evolved through the achievement of a mix of qualifications in science, IT, accounting and an MBA. All the while, the reason for this mix is that the questions I wanted answers to became more and more focused on the bigger picture.

Read more…

Cloud accounting is morphing – but you can take control for profitable client servicing

Cloud accounting is taking the profession – and its clients – by storm. The problem for firms is that, as the offerings proliferate and continue to morph, how will your systems and staff cope?

From our recent survey of accountants and their SME clients across Australia - "Can the accounting profession 'keep up' with clients and the cloud" – 4 out of 5 professional accountants who are using cloud computing gave it a ringing endorsement. We also know that 59 percent are using two or more of these apps with their clients. But firms are overwhelmingly - 93 percent – accommodating SME preferences, rather than being the technology influencers: "We go with what the client wants, we just have to learn their software."

Read more…

Taking the Cloud Journey with our Customers

I came to Wolters Kluwer, CCH 13 years ago and my experience of this exciting organisation only keeps getting better. As I've worked towards my current role, it's given me the chance to explore strengths across both hemispheres of my brain – I'm a people person, with a finance background!

So why did we deliberately create a Customer Experience team? Our products and services bring new technologies to market, to solve business challenges and vastly improve productivity, but they must do so in a way that fits in the real world. So we take 'customer experience' very seriously. We genuinely seek out feedback and satisfaction. 

We're passionate about process improvement that delivers unprecedented value for our business and yours. The process of turning individual comments, requests and ideas into reality has become quite technical. Since 2011 we quantify all customer contact via the NPS (Net Promoter Score) program that allows us to measure how happy you are with everything we do. 

Read more…

The big picture business model – the impact of cloud on accounting and other trusted professions

The accounting profession's response to the cloud is overwhelmingly positive, particularly given how relatively new this technology shift is. It's deeply disruptive – in the current, positive use of the word - because its impact goes beyond that of simple functionality and process automation. Cloud is fundamentally changing the way we operate. The accounting profession is converting from a transaction based, behind the scenes operation, to a partner service based model. 

To better identify where the opportunities are, we conducted a nationwide survey* of accountants and their SME clients - "Can the accounting profession keep up with clients and the cloud". Tax planning, business advisory, business planning forecasting and cash flow were the areas nominated by respondents as being the most positively impacted by real time access to their clients' accurate, current financial information.

Read more…

The NZ 2014 GBU is nearly here!

As we count down to the release of the 2014 The Good, the Bad and the Ugly (GBU) benchmarking report for the NZ Accounting profession, we thought we would have a look back at some of the key results from 2013.

The 2014 GBU will be launched on Wednesday, 10 December 2014, 2:30-3:45pm with an Industry Insights webinar. The team at CCH Business Fitness NZ will guide you through the results looking at the trends from the industry and what the best performing firms are doing differently. 

You can register for the webinar and your copy of the 2014 GBU here.

Read more…

Regional vs. Metro – a cloud-based practice is the equaliser

Whether we're operating in the city or the bush, we're always trying to differentiate ourselves in our own, but increasingly competitive, market. We have to keep costs down, for both our own businesses and our clients. And, for the entrepreneurial ones among us, there's the search for ways to grow – profitably and sustainably.

With our highly regulated economy, it's been a challenge for accountants to stay on top of the ever changing compliance regime. Being confident that the information you have is the latest available, has been problematic. 

Cloud, and the game changing NBN, is now transforming the way we all work – particularly for those in regional areas.

Read more…

Cloud Accounting Creating an Equal Playing Field for SMEs – and Opportunities for Trusted Advisors

For those businesses that want to grow it can be a challenge, or even an issue, sourcing the appropriate funding levels needed to help facilitate that development. In fact for some small businesses they only know their cash flow position when it could be too late and no bank will look at them.

Imagine this, if every one of your smaller enterprise clients was operating with an appropriate level of easy to use accounting solutions that gave them a daily position on cash flow, stock levels and resources and one that you can see and advise on in real time.

With the influx of cloud-based accounting platforms – whether they primarily are used for bookkeeping or more strategic financial purposes, there is now no reason why SMEs should not be operating with an appropriate level of proactive, sophisticated financial advice - the same cost and tax-minimisation intelligence that's been giving their larger counterparts an unfair advantage for too long.

Read more…