Pathfinder Series Part 2 -- A Review

Seth Fineberg
Managing Editor
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In the second session of his Pathfinder series, with the groups mindset now focused on growth regardless of whether ‘recruiting the right people’ could be mastered in the short term, Martin Bissett turned everyone’s attention to their technology portfolio.

This began with an understanding of how critical technology has become to the accounting profession and how technological innovations are not that new with Martin demonstrating how the first software package for accountants, Visicalc, was released in 1978, some 39 years ago.

Indeed, even the desktop version of quick books made its debut to the profession in 1998, demonstrating that today’s increase in technological innovation should come as no surprise.

This pathfinder session therefore was not to compare one software product against another but rather to take the pathfinder view of preparing for growth by having each component part of the technology portfolio in place and mapped out ready to be leveraged both existing clients, new clients and new potential hires alike.

This portfolio consisted of 5 sections:

  1. Having a cloud based accounting software platform in place.
  2. Having a mobile accounting solution supported
  3. Having an OCR based package integrated.
  4. Having tax software selected.
  5. Having a social media strategy

Each section was reviewed in detail with contributions from the pathfinder group as to the software solutions that they were using and finding to be the most beneficial and attractive to themselves and their clients alike.

An ‘invisible sixth’ topic of outsourcing accounting work was also discussed without it necessarily forming part of the technology portfolio.

With that signpost now reached, attention turned to previewing Part 3 of the series where the group will be led onto the new peninsula of ‘How to Increase Fees With Existing Clients’ with Martin guiding the group to proven strategies to increase both top and bottom lines in perpetuity.

Martin Bissett is offering a mentoring series called Practice Pathfinder, where you can learn to tackle the 6 most common challenges US accountants face while trying to develop their practices.  Learn more.


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