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Why it’s Critical for Accounting Practises to Invest in Technology NOW

31st Jan 2024
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Suralink provides professional services firms with a single, secure platform to collaborate with clients, exchange documents at scale, and track the progress of engagements. 

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Bob Dylan once sang that, “The times, they are a-changin.’”

It’s a sentiment that only becomes truer with the passage of time and the acceleration of technological advancement. And while some technology is more smoke-and-mirrors than substance, there’s a lot of tech that is substantial, and thus a valid case to be made for being on the cutting edge of adoption.

Firms that implement critical technology successfully will thrive no matter how difficult the times might be. There are a number of reasons why:

First, it’s always been true, through times easy and difficult, that the market, industry, and your business won’t go back to the way things were. None of these factors will regress in terms of the way we work, nor from where we work. There will always be that conspicuous pressure to increase efficiency in a competitive economic climate.

Additionally, as firms identify efficiency bottlenecks, the smartest among them will immediately search for solutions to alleviate that effect. Inevitably, technology becomes that exact means.

Second, technology adoption has, and will continue to be, a leading indicator of firm success. Beyond the efficiency gains, a commitment to new technology demonstrates a firm’s mindset. Is your firm committed to growth and innovation, or is it more interested in maintaining the status quo?

Finally, technology is worth the investment.

“Cloud-based technology investments are paying off ... In many cases, these tools were implemented in the last several years, but many firms haven't had wide-scale adoption,” wrote expert Amanda Wilkie for Boomer Consulting.

“Now they're really seeing the benefits of those investments as these technologies allow them to stay connected and support collaboration while working remotely."

The ROI is clear: The firms that invest in technology will move further and faster, and the gap between those firms that understand the importance of tech and those that don’t will continue to widen.

So, the natural question to ask at this point is which meaningful technology can help firms not ‘just’ close that gap, but stay ahead of the curve? Suralink stands ready to help practises capitalise on the advent of technology in a variety of contexts that all pertain to providing a holistic and meaningfully improved experience. Click here to learn more!