Creating efficiencies, raising productivity.

Companies need to stay current and tech-savvy to exploit technology to their benefit and to make sure they remain relevant and competitive.

While desktops, notebooks, cell phones and hand held are standard digital fare these days, corporates want even more of their workplace to be digital.

Over the past few years, innovative firms of all sizes have proven that it is possible to implement a completely digital (paperless) environment that can exist and function effectively. The goal for all firms should be to manage data in a more efficient manner within a digital environment. To develop such an environment, firms have different technology issues they need to resolve.

However, it is of critical importance that companies understand consumer needs as they adopt and integrate more new technologies into their families' lives.

A paperless office is a more efficient way to provide enhanced client service.All firms have one thing in common. Outside of personnel, the firms most important asset is its clients. How clients are served depends on how we as professionals interact with them on a daily basis. The quality of this interaction is further driven by how information and data are obtained, manipulated, accessed, shared, and stored. Data in digital format is the safest, most efficient means of data handling.

Most people, however, are comfortable doing what they know how to do, adhering to a philosophy of If it's not broken, don't fix it! Although the process and systems may not be fundamentally broken, by not reviewing them, a firm probably is not maximizing its profits. In general, people are frightened by change and are afraid to lose what they know. To move forward, however, they must manage this fear, and the only way to manage fear is through education. Learning new skills takes time, patience, and an open mind. We should always be trying to determine if there is a better way to do business. Working in a digital environment is a better way to do business.

Competitive advantage

One sure fire way to gain a competitive advantage is to promote technology change, process reengineering, and education. The current trend in the market is for more fixed fee engagements. Firms that can operate more efficiently will see higher profits. Firms that have implemented digital environments are seeing increased profits and increased efficiency. In the second year of implementation, on average, engagement hours should be reduced by about 25% for accounting engagements and 50% for tax engagements. These reductions should be all the incentive necessary for a firm to make the leap.

Gaining efficiencies

Efficiencies can be gained by obtaining, manipulating, accessing, sharing, and storing data in a digital environment. The hardware and software available today are so fast and accurate that certain manual operations are obsolete. Efficiencies are realized not only by using technology, but also in how we use it.