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Every business needs sound accounting policies and procedures. While accounting firms often help clients identify the guidelines they need to have in place to protect themselves, prevent fraud and operate efficiently, firms sometimes neglect their internal operations. Two critical internal policies and procedures every firm needs to address are expense reimbursement and company credit card usage. These policies can help your firm establish rules that promote financial account

Like many firm marketers, we're always looking for fresh ideas to inspire our content marketing strategy. Many businesses struggle to...

Boomer Consulting's peer communities started in 1999 with just one group: the Boomer Technology Circle. Over the years, our communities have grown to include four Technology Circles as well as eight more: the Boomer Talent Circle, the Boomer Managing Partner Circle, the Boomer Operations Circle, the Boomer CIO Circle, the Boomer Business Transformation Circle, the Boomer Process Circle, the Boomer Marketing & Business Development Circle, and the Boomer Learning & Development

In every firm, there are at least two levels of thinkers. There's the strategic level – the people who see the big picture and where the firm (and its clients) need to go – and the task manager level – the people who actually get the work done. Between those two ends of the spectrum is an important level: the insights people – those critical thinkers who ask questions, challenge the status quo, and ultimately improve any initiative. These critical thinkers are essential to a

In the accounting profession, it's critical to stay ahead of the curve when it comes to technological advancements shaping how you do business and serve your clients. Generative artificial intelligence (AI), including ChatGPT, is one such technology that has emerged in the past year. While there's lots of buzz about ChatGPT and other Generative AI platforms in the media, many firms still aren't sure what its practical uses are or if they should implement policies around it.

Performance management is undergoing a paradigm shift in accounting firms and across the business landscape. We see a movement away from...

The skills shortage is a critical issue facing businesses worldwide, and those that fail to address it may struggle to achieve their...

In today's dynamic business environment, organizations are constantly seeking ways to optimize their operations, improve efficiency, and...

Like many industries, the accounting profession is in the midst of profound change. The impetus behind this transformation is...

There are five generations in the workplace for the first time in history. People often view this situation as a negative—a conflict firm leaders must work around or manage. However, with a change in mindset, we can begin bridging the generational gap and use it as a strategic advantage in business development and growth. 5 generations in the workplace First, let's look at the five generations that make up the modern workforce, with characteristics of each according to the S

Automation and outsourcing are not enough to sustain success and remain future ready in the accounting profession. Challenges are continuous and occurring at an increasing rate for all firms and their clients. If your clients didn’t have dangers and opportunities, they wouldn’t buy your services. Remember, leaders focus on improving what is working, while managers tend to focus on what isn’t working. Self-disruption is indicative of a clear vision and isn’t always appreciated

The competitive landscape in accounting is becoming increasingly crowded. So firms must think ahead and look for ways to evolve their...

The rise of artificial intelligence (AI) is revolutionizing various industries, including marketing. As an accounting firm, it is crucial...

Technology decisions can be overwhelming for many Managing Partners and other firm leaders. There are countless software options, each promising to solve your firm's problems and streamline your processes. It's easy to get swept away by shiny new features. However, changing your mindset around making technology decisions can help you think beyond specific software decisions and focus on how you design the systems within your firm. So let's explore the concept of systems think

It's the age-old question for firms: which comes first, technology or process? Summer is the season for implementing new technology in our profession, and many firms invest in new technology without considering how their processes will need to change. As a result, they wind up trying to shoe-horn their existing processes into the technology, leading to complications and failures in implementation. Fortunately, there's a right way to approach selecting and implementing new tec

CPA firms rely heavily on technology applications to drive their business operations. But with so many applications across multiple departments, it's easy to become burdened with an unnecessarily complex technology stack that leads to inefficiencies and redundancies. In this situation, replacing major technology applications may be high on the priority list. The goal is to reduce complexity and consolidate applications across the organization to improve productivity and stre

In our digital era, data privacy concerns have become an increasingly pressing issue for both your firm and your clients. Many countries and even some U.S. states have enacted consumer privacy protection laws, and it can be challenging to navigate through the vast amount of information available on data privacy. Appointing a Data Privacy Officer (DPO) can help your firm protect sensitive data and ensure compliance with evolving regulations. What is a Data Privacy Officer? A

Building a strong culture within your firm is essential to keeping your team motivated and rowing in the same direction. However, it takes more than just having each person know their professional roles and being technically skilled—it requires engagement. Businesses in every industry invest a lot of time and money to foster engagement in their team members. But, unfortunately, their efforts sometimes encourage camaraderie rather than engagement, and that's a whole different

In today's dynamic and diverse workplace, organizations must evolve their diversity, equity and belonging (DEB) strategies. One way to do this is by creating employee resource groups (ERGs). ERGs are a powerful way to foster a sense of belonging and engagement, aid in the recruitment and retention of talent, and provide employees with personal and professional development. Why should your firm have an ERG? ERGs play a critical role in creating an inclusive workplace culture

If you're a one-person department in a CPA firm, you may wear many hats while juggling ever-increasing workloads and responsibilities. Staying on top of everything can be challenging without losing focus or feeling burnt out. That was my situation, but I discovered I didn't have to do it alone. Instead, I was able to leverage outsourced talent to bolster and free up my time. I'd like to share how you can do the same and make room for more strategic priorities to benefit your