How to ensure a seamless transition from in-office to remote work

By George Haddaway, Director, Western Europe

Accountancy practice management software has come a long way. Today, features like automated billing and reconciliations are easily integrated into the day-to-day practice workflow of Wolters Kluwer Tax & Accounting UK customers.

Our employees work side by side with our customers to create and manage these solutions – driven by a deep understanding of their needs and addressing the rapid changes in their environment.

However, it’s often hard to look beyond improving performance in day-to-day operations. Amid Brexit, the COVID-19 pandemic and other disruptions, accountancy practices and their clients are dealing with an unpredictable economic landscape. Future business planning can appear daunting.

However, technology can support accountancy practices (and their clients) in making informed business decisions, and planning for the future. In the first part of our Accountancy Practice Management for Future-Fit Growth series, we’ll explore how they can use technology to define and easily track Key Performance Indicators (KPIs). Doing so gives practices closer control of performance tracking, and deeper insights that will inform strategic growth plans.

Saving Time

For several decades, business technology platforms have enabled practices to track performance metrics that they have customised. This highlights areas that qualify for improvement and underpins strategic planning.

Contemporary technology, such as CCH KPI Monitoring, makes setting up KPIs faster and easier for accountancy practices than ever before. This is vital today. The current business landscape demands that firms assess and amend KPIs more frequently, based on fresh market variables. KPIs such as client retention rate and business time-to-recovery have become increasingly prominent performance indicators in the past year. If clunky technology makes KPI management difficult, practices have less time and insight to plan future growth.

Reducing Risk
CCH KPI Monitoring makes it far easier to track KPIs and report on them. This is fundamental in minimising risk. For example, if a KPI is set to track and escalate debt filtered by overdue dates, the ability to easily set alerts and automatically generate reports is critical to practice performance management.

Some practices are manually running monthly reports to measure KPIs. Others are running real-time reporting engines, a key feature of CCH KPI Monitoring. This latter solution allows practices to review essential data at any time – covering both performance management and compliance requirements. They can do so remotely or on-premise.

This means that firms can assess issues before they become problems, and thus act proactively. Real-time reporting is a true asset in building a future-fit practice.

The Proof is in the Practice
A number of Wolters Kluwer customers have been using CCH KPI Monitoring for several years now. Our customers look to us when they need to be right. Ryecroft Glenton has successfully integrated CCH KPI Monitoring with its own system. This consolidates information from several sources, including CCH Central and CCH Practice Management.

“We can use the year end date to trigger a sequence of reminders. Have we asked for the books? Have they been received? If a request to a client has been outstanding for a certain period, the partner will receive an alert via email. For limited companies, we can monitor the corporation tax and Companies House filing deadlines – as well as the different deadlines for pension schemes”

– Ian Smith, partner at Ryecroft Glenton

Corporate events agency who benefited from greener graphics initiative

“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”

Corporate events agency who benefited from greener graphics initiative

“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”

Corporate events agency who benefited from greener graphics initiative

“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”

Corporate events agency who benefited from greener graphics initiative

“Apogee are not just aprinting company, theyconsult with us and go onto deliver a full end to endservice from concept toinstallation. They go aboveand beyond and we lookforward to continuing ourjourney with them”

Gone are the days when an employer could expect their people in the office five days a week. Covid-related culture shifts, coupled with new technology, have removed barriers and left organisations with little alternative to a hybrid model, as a minimum requirement.

However, many businesses remain unwilling to properly equip people for remote work. A mere 12.5% of respondents to a recent IDG survey thought their organisation had provided the full range of technology, processes, and training required for a successful hybrid-work setup.

These shortcomings may backfire, as recent strike action has left businesses with no choice but to embrace a remote working model, as some employees have found reaching the office impossible with trains and tubes out of action. With more strikes expected in the coming weeks and months, the situation may only get worse.

These disruptions show the importance of making sure employees can pivot quickly between office and remote work, with a seamless transition between the two of great importance to continuity. The correct technology to facilitate this is key: Metadata-driven document management systems give employees access to all the files they need, whether they are at home or in the office.

Leveraging Software as a Service (SaaS) solutions such will equip businesses to cope with any sudden changes and prevent productivity being crippled by upcoming strike action. Promoting the use of collaborative tools is the most effective way to create the working environment that employees want, and businesses now suddenly need.

Minimising the effect of disruptions
With strike action likely to cause an enforced hiatus on trips to the office, businesses need to take measures to avoid this wreaking havoc with workflows. And with 37% of businesses still in the early stages of deployment of a hybrid model, expect to see unprepared firms suffer.

There are a host of potential issues when switching to remote work, for instance difficulties accessing important documents, misplaced files and data, and workers attaching outdated documents in a sea of emails.

Therefore, it is important that people are fully prepared and equipped with tools to streamline collaborative processes. Nearly 80% of workers used a collaborative tool in 2021, an increase of more than 40% compared to the previous year, highlighting just how pervasive these resources have become. Making use of all available technology will ensure a consistent flow of work, even if employee access to the office is restricted.

Getting the files you need in an instant
Crucial documents trapped in data silos or stuck on office hard drives will mean people members face headaches when trying to complete the simplest of tasks. Therefore, if a remote working model is to be a successful, a clear information management strategy is essential.

Leave anachronistic and outdated practices in the past. Smart businesses are turning to document management solutions that make data instantly accessible for all employees, whether remote or in-office. Metadata-driven document management platforms are essential for this, as they ensure there is just one version of a file by centralizing all documents. Consequently, everyone will be working on the most up-to-date version of a file, encouraging the safe and secure sharing of information between colleagues.

Be transparent with your clients
Strike action may not solely affect employees, as some clients might be used to regular in-person meetings which could be disrupted. A collaborative workspace means that documents can be sent quickly and easily to clients, removing any stress they may feel due to limited face-to-face contact.

Document management platforms can also facilitate real-time collaboration between internal and external stakeholders, keeping customers in the loop. This allows clients to view what you are working on, with compliance controls securing any sensitive data so they only see what you want them to.

Businesses who haven’t already adopted a remote working model will be left with no choice but to evolve their approach, as strike action could make full-time office attendance a real challenge. However, the requisite technology is now available to prevent firm performance taking a hit as a result of disruptions. Businesses who successfully implement collaborative tools will easily weather this storm, pivoting seamlessly from in-office to remote work.

About M-Files
M-Files is a global leader in information management. The M-Files metadata-driven document management platform enables knowledge workers to instantly find the right information in any context, automate business processes, and enforce information control. This provides businesses with a competitive advantage and substantial ROI as they deliver better customer experiences and higher-quality work with lower risk.

For more information, visit www.m-files.com.M-Files is a registered trademark of M-Files Corporation. All other registered trademarks belong to their respective owners.

Aug 2022

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