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
“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”
“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”
“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”
“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”
With support for Windows 10 ceasing after October 2025, organisations will eventually need to install Windows 11 on their corporate devices. The good news is, this upgrade creates significant benefits for secure hybrid working.
While hybrid working has revolutionised how modern businesses operate, poorly supported remote devices represent a major risk to your cyber security.
Therefore, if employee assets are being used outside of the protection of your company servers, it is imperative that they are all accounted for and protected - or the possibility of a data breach is only a matter of time.
Forrester recently conducted a survey with a sample of 312 IT and security decision-makers at companies with 500 or more employees – and in addition to the 46% of respondents reporting that over half their workforce work remotely most of the time; 72% said that they use a hybrid model throughout the week. So many employees working remotely every day not only heightens the risk of a cyberattack, but also increases the complexity of asset management and data security processes.
These statistics highlight the sheer scale of the challenge before business leaders. Accounting for so many employees – who could each have multiple company devices – is no easy task if asset management has not been implemented historically. That means a nearly countless amount of potential entryways for cyber criminals to exploit; and unfortunately, one is usually all it takes.
However, businesses are in luck. The support for Windows 10 is coming to an end after October 2025, which means that you will have to adopt Windows 11 if you want to maintain accreditations such as Cyber Essentials – and considering how much it will ease asset management and endpoint management, it’s advisable to introduce it sooner rather than later.
So, what are the benefits to Windows 11?
Security measures
Windows 11 makes it more difficult for malware and viruses to affect your hardware, due to the fact that a physical processor, TPM 2.0, allows the OS to authenticate the PC being used – which makes hardware-based encryption much easier to implement and enhance.
Your devices are similarly protected from phishing attacks through Windows 11, thanks to features that effectively block some of the most common cyberattack methods by default.
These range from ensuring that only trusted applications can be run on your corporate devices, to automatic alerts when your people are entering Microsoft credentials into malicious applications or hacked websites.
Already Compatible
Not ready for your next IT upgrade? No problem. In order to perform its security-based functions, Windows 11 requires TPM 2.0. However, TPM 2.0 has been standard with most commercial laptops for quite some time, so devices no older than 2017 should already be completely compatible.
Of course, if you do need to upgrade, could it be worth looking into the wider benefits of a Managed IT Service?
Familiar Setup
For those doubting their team’s readiness to get to grips with a whole new OS, worry not – Windows 11 functions basically the same as Windows 10. This means that this upgrade will mean minimal disruption to your team’s productivity; allowing your business to enhance security for free, and all without impacting your output or standard of customer service.
Remote visibility
Asset management is made simple with Windows 11 Cloud Configuration, which gives your admins easy visibility of the status of every corporate device in your fleet. The obvious advantages of this is that important communications can be sent directly to every corporate device in your business in a single admin message – and secure remote fixes can be co-ordinated stress-free.
Easy Updates
As well as being a free upgrade, Windows 11 ensures that you are continually kept up to date with update deployments - but without disrupting your operations, with automated background updates 40% smaller and optimised to be completed as quickly and safely as possible.
Windows 11 is the default OS for all hardware provided through a Managed IT Service – which leases devices to a client for the purposes of generating cost-efficiencies, maximising uptime through ongoing support, and customising your devices to save you time.
If you are interested in how Windows 11 can help your business, speak to Apogee today by clicking here.
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