Each year, we speak to thousands of accounting firms from all across the country about Cloud and its relevance to creating operating efficiencies. In fact, our very own Roman Kepczyk specializes in using the Lean Six Sigma process to help firms squeeze out every last ounce of productivity by streamlining their tax, audit, and administrative workflows.
One of the core tenants of the Lean Six Sigma process is to eliminate waste, or unproductive cycles, in a process. In 2006, Jeff Bezos proposed that businesses spend 70% of their time, energy, and dollars on undifferentiated heavy lifting and only 30% on true differentiated value creation. Nowhere is this more present in than in the realm of managing the technology life cycle. Every 3-4 years, your peers replace technology that was functionally working — although it may be deemed end-of-life by the manufacturer — with another black box that essentially does exactly the same job. The replacement may be marginally better or faster, but rarely does it add revenue, better enable you to deliver services, or increase your ability to grow your firm.
Trick question: does the value of your firm increase when you invest in any the following?
- Managing and replacing servers
- Updating tax and accounting software
- Managing workstation security patches and anti-virus
- Managing the ever-growing needs of file storage
- Replacing networking equipment, like switches, hubs, firewalls
- Managing backups and related technologies
- Creating and managing disaster recovery capabilities
Thinking about, designing, budgeting, planning for, and gaining input and alignment on your next major network upgrade is undifferentiated heavy lifting. Moving your firm to the cloud puts an end to operational inefficiency and waste in all of these areas and lets you grow and focus on the differentiated, value-creating areas of your practice that benefit you, your partners, your culture, and your clients.
You too can investigate how hundreds of other accounting firms have taken the step towards differentiated value creation. To speak directly with firms in your area who are able to focus on growing their practices, connect with us.