Accounting Today - Paperless and Beyond

together seamlessly to drive client service.”
In 1991, Adobe Systems co-founder John Warnock
envisioned a system he called “Camelot,” that would make
documents independent of application software, hardware
or operating systems. This evolved into a ;le format
known as the Portable Document File (or the Adobe PDF)
in 1993.

PDFs were searchable, and used algorithms to reduce the size of document ;les. The introduction of the PDF format, which became open-source in 2008, opened the door to a new generation of less-paper products and the concept of document management. This concept differed from the paperless of;ce concept of the 1980s in that it envisioned electronic, rather than paper, documents.

With the dawn of the Internet in 1993, even document management began to be subsumed — this time by a larger concept called “content management.” This concept expanded to include not only electronic documents, but electronic images, sounds and video. But even this concept became obsolete in about 2005, with the emergence of “Generation V.”

21st Century

FROM PAGE 30

GENERATION V

“We call it Generation V, for virtual,” explained Mike
Sabbatis, president and CEO of CCH. “It is a ‘work
anywhere’ philosophy that uses technology to create a
workspace with everything you need no matter where
you are. But it is not a generation based on age. It is a
generation based on technology leadership, connectivity
and early adoption of new or emerging trends.”
It is the generation that uses Kindles, rather than
reading newspapers. That watches television shows and
movies on cell phones and iPads. A generation built in
the cloud, with the ability to work from anywhere to
anywhere. And it is a generation that is driving new
ef;ciencies, new productivity and new forms of business
relationships.

“I love to see the evolution of Generation V, even if it
does not lead to a paperless of;ce,” said Fujitsu’s Hogan.
“This is a generation that understands the context of
information, and the need to drive customer service by
using technology more creatively.”
“As accounting ;rms acquire newer and younger
clients, the habits and preferences of the younger
generations are very different than those of their
predecessors,” said Teresa Mackintosh, Thomson Reuters’
senior vice president and general manager, professional
work;ow & service solutions – Americas. “They will
expect mobile access to their information and have less of
a desire to stop by the traditional ;rm location. That being
said, the traditional of;ce is not an endangered species. It
will continue to be an important hub of ;rm activity. The
staff will enjoy increased mobility and ;exibility with the
available technology.”
“As leaders of business, we have to rethink how we
can best leverage the talents of our people,” said CCH’s
Sabbatis. “We have to drive a work/life balance, but also
that ability of our employees to do something that is
valuable and rewarding at a level they want to work at.
It is not about working from home. It is about working
from anywhere the client is, and anywhere the accounting
professional needs to be. It is not about integrating, or
pulling and pushing data. It is not about pricing models,
or delivery models, but in a different way of viewing and
using data.”
Generation V may be leading the way into the
coming generation of content management, but there
are some compelling reasons that any forward-thinking
accounting ;rm should be looking to new systems as well.

REASONS TO JOIN GEN V

SmartVault founder Eric Pulaski de;nes three reasons why ;rms have to pay attention to the emerging technologies:

1. Document safety, security and compliance.

Accounting ;rms are responsible for the security of client data and documents — against theft, corruption, loss or natural disaster. If documents are shared by others in the ;rm and with clients, then there must be a secure way to do so — and e-mail is not secure. Sending documents as attachments to e-mail may violate compliance laws put forward by the Internal Revenue Service. Finding a better, more secure solution not only prevents legal trouble, but also demonstrates a commitment to the client as a trusted business partner.

2. Streamline processes to work more ef;ciently — allowing the ;rm to focus on more pro;table billable activities. Software-as-a-Service or Web-based solutions help to ensure that key processes can be streamlined in the ;rm’s work;ow. An online document management system means that all of your ;rm and client documents are accessible anytime and anywhere from a Web browser. Getting your clients to convert their paper bills, receipts, etc., into digital format immediately and to upload to the ;rm means faster and more convenient processing, and the use of a secure client portal for the sharing and exchanging of data and documents eliminates time-consuming manual ;ling and exchange of data via unsecure e-mail, fax, FTP, USB or CDs.

3. Firms that are using technology are the ones that are growing. Consultants and industry mavens agree that the ;rms that are growing are the ones that have adopted and actively use technology to do more, in less time. Game-changing technologies like the delivery of Software-as-a-Service really allow smaller ;rms and businesses to adopt technology that does not require a large capital investment, information technology staff or long training cycles.

“It is about the kind of leader you have in your business to recognize the bene;ts and help the ;rm manage change,” said CCH’s Sabbatis. “The next set of critical technologies is already here — Twitter, social media, how you access digital data on mobile devices. The Kindle and iPad alone have changed the dynamics of how we handle data, both at work and at home. The television experience is changing, so that people are on the Internet, and on their cell phones communicating, while watching TV. You have to pay attention to that from a business standpoint. This is the big bang we see coming ... how you move information across all of these venues, ef;ciently and with greater security. It is how people will work and communicate.”

Spotlighton

CCH,
a Wolters
Kluwer
business

1. What are the biggest advantages for CPAs in creating a paperless office? At the foundation, the benefits of paperless are cost reduction, and improved accuracy, productivity and profitability. These benefits are significant and are being realized today. But the transformational benefit of paperless will be mobility and anywhere, anytime service to clients. Because your staff and clients are not tethered to a desk or office, firms will conduct business and serve clients in new and exciting ways, realizing opportunities to increase profitability and the reach of their business.

2. What are the biggest obstacles?

It takes a commitment to make change – you need to make sure
that you have the right processes in place. It’s not a matter of
“paving the cow path” and digitizing manual processes. Firms
need to understand how their clients consume information and
identify the most effective way to
deliver service to clients and optimize
firm management practices, and then
use technology and workflow tools to
create that environment.

3. How are you helping
your customers overcome
the obstacles and reap the
advantages?

CCH is a leader in both solutions and implementation support services. We take seriously our role as a strategic partner to professionals. This means delivering the highest-quality solutions, and working with firms through successful execution.

We spend countless hours understanding how professionals work, the challenges you face and how clients interact with you. We offer the leading suite of solutions designed around the digital office that we continue to enhance and expand – through such additions as SaaS offerings, ProSystem fx Portal and KnowledgeConnect – as well as offering world-class support to ensure firms’ greatest success.

Mike Sabbatis
President and CEO
CCH, a Wolters
Kluwer business

With more products than any other provider on Accounting
Today’s “Top” lists, CCH’s end-to-end solutions (via SaaS or on-
premise) supporting paperless include:
• Compliance, including CCH ProSystem fx Tax, ProSystem fx
Engagement, and ProSystem fx Knowledge Coach;