Featured Article - When Great Minds Come Together

Thought Leadership is at the heart of onsite peer-to-peer networking

By M. Darren Root, CPA.CITP

Over the past few years, social media has gained momentum in the tax and accounting profession. Sites like Twitter, Facebook, and YouTube enable professionals to exchange information in real-time, while accounting-specific blogs keep accountants apprised of the latest technology trends and efficiency-elevating innovations. There is no denying that the Internet provides exceptional convenience; however, the power of face-to-face networking communities cannot be overstated.

Onsite networking forums have been a long-standing and faithful resource to exchange practical information with colleagues. These types of groups typically occur once or twice a year to examine common issues within the profession and identify workable resolutions—and all within a non-competitive, supportive environment. Forum participants benefit from roundtable discussions, leadership and software training, as well as updates on current technology innovations and how to implement them effectively.

Unlike online forums, onsite communities provide participants with a level of energy and discussion that is difficult to reproduce in a web-based environment. Brainstorming for solutions and defining best practices is a complex and dynamic process that is best supported by face-to-face interaction. True thought leadership like this occurs when great minds come together.

What Accountants Are Talking About

Key topics discussed during onsite sessions include integrated systems, latest and greatest technologies, practice management, best practices, and paperless processes—to name only a few. Participants are talking about common issues and coming up with smart resolutions. Consider a few popular topics:

Integrated Software Systems — Time is money, so firm leaders continuously search for ways to improve efficiency. Fully integrated software suites support seamless data transfer between products and virtually eliminate manual re-keying of data. Integration with suites also expands to other popular applications, such as Microsoft Office products and many new and cool SaaS applications. With true product integration, firms can standardize workflow from start to finish.
Automated, Paperless Workflow — Many firms are combining integrated suites with web-based innovations, like client portals and automated tax document workflow apps, to achieve completely digital processes. For example, the paperless tax workflow is often a key discussion at onsite events. Firms are looking for ways to completely standardize the tax process for ultimate efficiency. Best practices such as scanning upfront and using leading tax document automation tools to electronically organize and bookmark client source documents are among the hottest of paperless workflow conversations.
Client Accounting Online — Creating a convenient and efficient way to conduct business with clients is at the forefront of discussion as well. Firms are dedicating time to creating a strategy around client accounting online. As such, portals, hosted client accounting apps, and cloud-based document management and bill payment solutions are getting a lot of attention. A great deal of time is spent discussing strategy and the best-of-breed cloud technologies that can support a true online client accounting system.
Practice Management — At the heart of many conversations is how to use advanced practice management software to keep information efficiently flowing through the firm. Leading practice management software is reviewed in detail—offering participants a first-hand look at how to use practice management software as an "information hub"—with all firm data flowing through custom dashboards to track workflow, client project status, staff capacity, and other mission-critical data.
Technology Updates — Tax and accounting applications continue to evolve. And with the acceleration of pure cloud-based applications being launched to the profession, there is a lot to keep up with. Onsite networking events allow participants to constantly stay apprised of what's available and the best options for their firms.

Onsite, peer-to-peer forums are a tried-and-true networking tool. Those that have attended these events realize the value. The volume of new ideas and innovative thinking that come out of these sessions provide firm leaders with the knowledge necessary to make changes to workflow processes and system structure. Many professionals leave these sessions with a sound plan for change—a plan that leads them directly to elevated efficiency and a healthier bottom line.

About the Author (Darren Root)

M. Darren Root, CPA.CITP
812.332.7200
droot@root.com
RootWorks.com.

M. Darren Root is co-founder and managing partner of RootWorks and president of Root & Associates CPA's. Darren is dedicated to educating the accounting profession in the areas of workflow efficiency, technology, practice management, and branding and marketing. Combining more than 25 years as a practicing CPA with his extensive knowledge of SaaS innovations, integrated software, and paperless processes, Darren has emerged as a nationally recognized speaker. He is also the Executive Editor of The CPA Practice Advisor and a guest lecturer at Indiana University's Kelley School of Business.

Darren holds CPA and CITP (Certified Information Technology Professional) certificates. He is an AICPA CITP Credential Committee Board Member, and has served on the Board of Directors for the Indiana CPA Society. Darren can be reached at droot@root.com.