Rick Richardson’s rules for smart CPA tech spending.
In the AICPA INSIDER, Alexandra DeFelice talks to CPA tech guru Richardson (CPA, CITP, Ex-Ernst) about what CPAs need to know today about managing their current investments and preparing for the next wave. She provides Top Ten List of Tech To-Do’s for Accountants.
Six Things Accountants Can Do Today:
- Milk what you have much longer than you think you should.
- Never buy anything until the third version is introduced, allowing time for many of the kinks to be ironed out.
- CPA firms should invest 5 to 10 percent of gross revenues on technology (including hardware, software and training).
- Select one employee (not necessarily the IT director) to serve as a “technology ombudsman” to manage budgeting and spending.
- Assign the “ombudsman” to stay current on tech trends and brief others in the organization when new developments may affect the practice or clients.
- Allocate five percent of their chargeable hours to the assignment
And Four Trends to Watch:
