The Future of Accounting: Working In a Connected Firm

In addition to changing workforces that are more geographically distributed and tech savvy than ever before, process automation and artificial intelligence are transforming how accounting firms operate, potentially bringing unity and efficiency to the various applications these firms depend upon. The future of accounting will include professionals working within a connected firm — one that replaces siloed spreadsheets with interconnected systems and processes to increase the speed of client development and onboarding, unify and centralize file management and collaboration, help accountants better track and manage time spent on engagements, and holistically improve both firm profitability and management of the engagement lifecycle. 

Increase Productivity and Profitability 

The way we work changed drastically in 2020, and most firms quickly equipped their professionals with Microsoft Teams and other tools they needed to succeed outside the physical office. This was certainly a step in the right direction, but the future of accounting relies on software and solutions that are purpose-built for how accounting firms operate.  

Purpose-built accounting firm software can help firms along their journey toward becoming a connected firm, improving and automating internal processes and collaboration throughout the engagement lifecycle. With Intapp software, firms can integrate common data to accelerate client acceptance with automated workflows and AI-assisted conflicts clearance, create intelligent engagement workspaces in Microsoft Teams — and across the Microsoft 365 ecosystem — that foster secure internal and external collaboration and file management, and more accurately capture time spent on each engagement. These improvements will help firms become more productive, profitable, and successful in the future of accounting.  

Reduce Human Error 

Keeping all important client-related documents and information in separate spaces complicates the flow of information, subsequently slowing progress and raising the potential for client dissatisfaction. Manual processes depend on people perfectly completing tasks every time. Accounting firm software — like Intapp OnePlace — can unify disparate processes and data relating to an engagement, and can decrease the likelihood of human error — both while completing acceptance and continuance processes, as well as when fee earners trac and submit billable time.  

In a connected firm, partners and professionals maximize profitability by leveraging AI and process automation to reduce time spent on administrivia. They gain real-time insights into engagement details to collect the full and accurate value of completed effort.  

Connecting Technologies for Better Protection 

Working across multiple digital platforms means being responsible for the security of each one. An interconnected cloud-based platform like Intapp OnePlace provides a blanket of security that touches all your systems within a secure cloud environment. We designed our accounting firm software from the ground up with the best-in-class foundation of the Intapp Secure Cloud to provide the highest level of data security and control to meet the needs of accounting firms and their clients. 

Intapp OnePlace uses AI and other automation strategies to support the needs of firms and to create a more successful future of accounting.  

To learn more about our vision of the connected firm in the future of accounting, watch the “Succeeding as a Connected Firm” presentation on demand or schedule a personalized demo.