4 posts categorized "Susan Pierce, CPA, CITP, CGMA" Feed

How CPAs Can Manage Vendors and Still Focus on Their Core Business

SLAOrganizations must focus on their core business – and that often means hiring vendors and service providers to perform tasks which fall outside of that core.  A prime example of this is upgrading your organization’s information technology structure.  While you may know exactly what you want and how to go about getting it done, chances are that most CPAs lack the time or staff to make that goal a reality – without some outside help.

Managing vendors and service providers ranked among the top ten technology initiatives in both the U.S. and Canada according to the AICPA's 2013 North America Top Technology Initiatives Survey Results. Although overall confidence levels have declined, the survey showed some interesting differences between how public accounting firms and those in business and industry in both countries ranked the issue. In the U.S., public accounting firms rated the issue of managing vendors and service providers as the eighth most important; however business and industry organizations rated it tenth. 

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Managing the Risk of Emerging Technologies

Emerging-technologiesIt is likely that we have all been told to get our heads out of the clouds at one point in our lives. However, emerging technologies are now forcing us to get our heads into the “cloud” and our hands on our mobile data.

Mobile computing, remote computing, social media, big data and cloud computing have enabled CPAs and others to access, use and manage information most anywhere, at any time.  

While these technologies are expected to drive 90% of the growth of the IT market from 2013 through 2020, determining out how to best leverage them is a hot issue for the accounting profession. In fact, the issue of leveraging emerging technologies ranked among the top ten technology initiatives in both the U.S. and Canada according to the AICPA's 2013 North America Top Technology Initiatives Survey results. 

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Governing and Managing IT Investment and Spending

Return-on-investmentEvery organization wants to get the most out of its IT initiatives – without spending more than is needed or realizing that you have not spent enough to get the job done until it is too late. The key to achieving this depends on how your organization governs and manages its IT investment and spending – and having effective policies and procedures in place can help you to do just that.

The issue of governing and managing IT investment and spending was one of the top 10 technology initiatives in the AICPA’s 2013 North America Top Technology Initiatives Survey results, which was conducted jointly with the Chartered Professional Accountants of Canada. Governing and managing IT investment and spending ranked eighth in the top ten technology initiatives in the U.S. and was the fifth biggest concern in Canada. However, only 38% of survey respondents in both countries felt confident or highly confident in the ability of their clients’ organizations or their organizations to address this technology initiative.  So, how can you elevate those confidence levels?  By determining how to effectively maximize your IT ROI.

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Does Your Organization's Information Architecture Support Effective Reporting?

Data-analyticsIn order to make the right decisions, you have to have the right information. While that statement seems overly simple, the truth is that many organizations often rely upon the wrong information when making important strategic decisions. The issue of Enabling Decision Support and Analytics was one of the top ten technology initiatives reported by the 2013 North America Top Technology Initiatives Survey, a joint effort between the AICPA’s Information Management & Technology Assurance Division and the Chartered Professional Accountants of Canada.

Sometimes having the right information to make the right decisions does not happen when an organization's information architecture does not support effective reporting or management has not supported an investment in business intelligence-related projects. As a result, management may receive inaccurate or incomplete reports and may be at greater risk of making poorly informed business decisions. The issue of enabling decision support and analytics is a concern for many organizations as better technology can provide more data in less time than ever before. 

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