The Pennsylvania Institute of CPAs (PICPA) published its latest insights report, the' 2024 CPA Firm Tech Report'. This report provides a comprehensive overview and guide for CPA firms looking to embrace technology further to support their clients and optimize efficiency.
The report consolidates expert insights on technology adoption, addresses critical challenges, and offers strategic solutions for how CPA firms can adopt technology successfully. The twenty-nine-page report also includes specifics on AI, ethics, and other considerations in a rapidly changing tech landscape.
The report acknowledges that CPAs and professional service firms have embraced technology as a key growth driver and vital component of firm operations. Technology serves as a force multiplier, delivering efficiency, increasing quality, keeping firms ahead of their competition, reducing risk, and retaining clients. Yet, despite the benefits, only 9% of accountants believe they are getting the best use and value from their technology.
Selection and implementation comprise additional challenges that difference-makers must solve. The slow adoption of technology often compounds these challenges. To assist in these issues, the report provides a 'Digital Maturity Model and Firm Tech Ecosystem' addressing a variety of challenges facing firms, including:
- Where to begin, or decide what's next.
- Handling resistance to technology adoption.
- Managing Tech responsibilities without an IT staff.
- Addressing inefficiencies and talent shortages via technology.
- Future-proofing tech tools to manage ROI.
If you want to read a copy of this new and informative report, contact the Pennsylvania Institute of CPAs here.