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Many firms that invested time and money into operational improvements before tax season have still faced difficulties maintaining profitability. Complicating factors like inefficient back-end processes, fee pressure, legislative delays and competition from consumer tax prep software have sent firms in search of new ways to sustain and grow their firms. You’ll learn: • How to move past outdated ideas of productivity to achieve true sustainability as a firm • What you need to do to become an advisor to your clients rather than a technician • Why your firm's technology may be hindering your growth and profitability
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Change Your GameCCHGroup.com/ChangeYourGame
What Keeps You Up at Night?
55% 28.6% 25.3%
Top 3 Accounting Firm Challenges
Attracting new clients
Identifying opportunities for practice
improvement
Selecting the right
technology options
Attracting new clients is the single biggest challenge most accounting firms face
Source: NMGI Accounting Firm Operations and Technology Survey
Most Firms Plan to Improve Retention & Recruitment
… Have a strong client recruitment strategy
… Are taking steps to strengthen client retention rates
… Are establishing relationships with future generations within the client base
66%
81%
90%
Growth Strategi
es
Source: CCH® Leaders Now and Next Survey
Outdated technology conforms to outdated ideas of productivity.
Incremental change brings incremental growth.
You can’t grow simply by completing more tax returns faster.
Clien
t Ex
pecta
tions
Firm Capabilities
Most Firms Plan to Improve Retention & Recruitment, but …
One-fourth of clients surveyed say they'd leave their current CPA firm because it might not have the new or different services that the client needs.Source: Seven Keys to Successful CPA Firm
Management
4 Categories of Technology AdoptionPioneers are often firms seen as risk takers, willing to be the first to take action and recognizing there will be adoption pains with modern solutions.Pioneers
These firms see the opportunities provided by new technologies and are eager to adopt them based on the positive response of pioneers.
Early Adopters
Mainstream firms tend to be more risk averse. The solution must be clearly proven and commonplace.
Mainstream
Late adopters will wait until the solution has become perfected or until the previous solution is no longer available and they are forced to change.Late Adopters
Source: CCH® Leaders Now and Next Survey
It’s Clear: Pioneer Firms Excel
excel.
Revenue Increased over past
year
Profits increased over past
yearValue
increased over past 5
years
Source: CCH® Leaders Now and Next Survey
pioneer firms
Across key financial metrics,
Wide Differences in Emerging Technology Adoption
Missed opportunities for mainstream and late adopter
firms
of firms leverage the
cloud effectively
of firms leverage mobile
technology effectively Leverage
mobile technology effectively
Leverage the cloud effectively
54% 44%
Source: CCH® Leaders Now and Next Survey
Getting Ahead of Adoption Trends Provides Competitive Advantage
These technologies enable firms to operate in
distinctively different ways.
Source: CCH® Leaders Now and Next Survey
What is Your Firm’s Strategy to Win New Business?
Will your firm’s technology
HELP
or
HINDERyour growth efforts?
Simply Completing Returns Faster is Not Sustainable
Complicating Factors
• Inefficient back-end processes
• Fee pressure from clients• Competition from consumer
tax prep software• Legislative delays
Benefits
• Time saved per tax return
• Transfer of work from professional to administrative
• Scan-and-fill software
• Scanner• File server• Staff training
Firm’s paperless workflows mimic old inefficient processes.
Compressed tax season
means staff is just as busy as
ever.
Clients see tax preparation as a commodity and decide to
do it themselves.
Profitability remains low.
Results
Tax returns completed quickly
— A Technician
What Clients Want
Your professional expertise —An Advisor
What Clients Need
How Do You Change the Game in Your Favor?
Adopting a new perspective is the only way to sustain your business.
“Prospects are looking for more than just tax and accounting, they want help in running a better business. We’re re-training ourselves to be business advisors, not just tax advisors.”
Source: CPA Trendlines 2014 Tax Season Survey
A Fresh Start — How Old is Your Infrastructure?
Running old software on new computers is frustrating.
Newer software is more efficient and optimized for the way you do business today.
1990’s technology
C:\> Most professional
tax
software has been
around since
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DD DD OO OO SSSSS
DD DD OO OO SS
DDDDDD OOOOO SSSSS
Shared Data and Services
Multiple systems get the job done …
But a single system with multiple functions is better.
This doesn’t apply just to your smartphone.
Traditional desktop software can be
virtualized to run in the cloud.
But software that has been designed with common data and services in mind is
faster and more efficient.
True Cloud Platform
Open Integration
An open system is flexible and scalable to support your future needs.
“The CCH Axcess platform is going to be the way of the future in the accounting business, not just in the United States and Canada, but worldwide, and we’re really looking forward to a partnership with CCH to bring these products across the globe.”— WSG Systems, New York, New York;
Wolters Kluwer, CCH Open Integration Platform Vendor
The Way ForwardCCH Axcess™ Tax Represents the heart of a streamlined, digital tax process — supporting ease of tax preparation with thousands of automatically calculating forms and schedules for federal, state, county and city entities; robust diagnostics; and a state-of-the-art electronic filing system.
CCH Axcess™ Document Offers a feature-rich document management solution to electronically organize and store client source documents, achieving a true digital work environment.
CCH Axcess™ Portal Provides a secure online space where clients have 24/7 access to their financial documents and the ability to collaborate with firm staff in real-time, at any time.
CCH Axcess™ Practice Provides a full-scale practice management system to monitor staff time, produce invoices and handle all aspects of managing firm operations with ease.
CCH Axcess™ Workstream Offers a full-featured project management solution designed to streamline administrative tasks, such as tracking due dates, identifying key milestones and monitoring project status.
A System Greater than the Sum of its Parts• Diagnostics identify issues before they become
problems. Customizable correspondence strengthens firm branding.
• Be more responsive by accessing your clients’ files quickly from anywhere, with document metadata and full-text search.
• Add value and gain competitive advantage by letting clients access their complete library of financial documents.
• Identify where your firm is most profitable so you know where to focus your energy.
• Keep track of projects so your firm always appears
organized and timely, even in the chaos of tax season.
DocumentManageme
nt
Tax Compliance
Client Portals
Time and Billing
Project Manageme
nt
Dashboards: Insight into Your Firm’s Activities
Partners consult a dashboard to ensure everything is running smoothly; identify red flags before problems arise.
Staff can monitor their own performance on dashboards, improving accountability.
Improved Data Management = Improved Responsiveness
A single, integrated database holds complete, accurate information about all of the firm’s clients.
Mobility: Add Value Anytime, Anywhere
Develop more meaningful client relationships by carrying client information with you wherever you go.
Hundreds of Happy Customers
CCH Axcess™ adoption has entered the mainstream stage.
Source: CCH® Leaders Now and Next Survey
“CCH Axcess allowed us to continue our quest to be Web-based, paperless, digital and connected. It’s been the backbone of our practice. We’re very satisfied and very pleased with our decision, and I would highly recommend the adoption of the CCH Axcess full product line.”
— Sachetta & Callahan, Lynnfield, Massachusetts
“We’re very satisfied with CCH Axcess. It’s just a great way to go. It’s very, very user friendly on the integration, and I can’t outgrow it. I would recommend it to any firm.”
— Northwest CPA Group, PLL, Richland, Washington
“Once you use CCH Axcess Tax, Document, Portal, Workstream and Practice together and see the synergy that they create, you are not going to look back. CCH Axcess has streamlined our workflow so much over the past two and a half years; I cannot imagine running the practice without it.”
— Krueger & Associates, P.A., Tampa, Florida
“I love the CCH Axcess program. It’s very easy to navigate and very user friendly. To me, it’s the Cadillac — it’s the best of the best.”
— Toni Anne Rocker, CPA, PLLC, Raleigh, North Carolina
Why Did You Choose CCH Axcess?
“We looked at the way that the CCH Axcess products integrate with one another, and you can't really do that with a mixture of products from different platforms or even different companies. So it made sense to us to get everything from one platform … and CCH Axcess was just the natural way to go.”
Are You Satisfied with CCH Axcess?
“I'm impressed with CCH's attitude towards the products, towards us as customers. I feel that they want our feedback, they want us to succeed. They are working on their products to make them as good as they can be. You can't ask for any more than that.”
What Impact has CCH Axcess Had on Your Staff?
“We’re able to work from anywhere at anytime. It gives the employees flexibility. They can work at home. If there’s a snowstorm, we can keep working.”
Tell Us About Your Migration to CCH Axcess …
“The CCH Axcess implementation team took really good care of us. Planning for implementation, preparing us, working through some data conversion, all the way through to our end user training, and then follow-up for a period of time after training to make sure that our questions were answered …”
Expand on CCH Axcess with Complementary Solutions
Collect, organize and preserve the internal knowledge of your firm’s subject matter experts.
Streamline your tax workflow with automated trial balance and comprehensive file management.
Build your firm’s brand with a professional website and dynamic content.
Prepare and scan client source documents — the first step of a successful workflow.
CCH® KnowledgeConnect™
ProSystem fx® EngagementCCH® Site Builder
ProSystem fx® Scan
CCH Axcess Information
CCHGroup.com/ChangeYourGame800-739-9998
2014-0069-12