New Independent Nationwide Survey of Tax, Accounting, Audit Firms Identifies Best Practices

With a strategic view of their client and practice needs, these firms anticipate changes and innovate across workflows, optimizing processes, people and innovation. Future ready firms as well measure productivity and profitability to make data-driven improvements to performance.

‘Best in Process’ approach

"Critically important in being future ready is following a ‘Best in Process’ approach, with optimized innovation solutions and workflows to create the highest productivity across business processes, helping professionals work smarter, more productively and more profitably," Sabbatis told attendees.

Many firms are struggling to drive optimal results in leveraging tools and research, with an astounding 80 percent of Tax practitioners and 68 percent of Audit practitioners reporting their firms could be leveraging innovation more effectively, according to Survey findings.

However, firms are making very good progress with foundational technologies, just as scanning and electronic document management systems. Firms as well anticipate significant nearly-term growth in both cloud computing and mobile solutions.

Future ready culture

Supporting a future ready culture, many firms engage their employees in the business, particularly younger workers who have grown up leveraging research to do things differently. Exactly, the CCH Survey found:

"For tax, accounting and audit professionals who face constant change, complexity and competitive pressure, it’s essential that they have integrated research platforms that deliver superior software and information solutions," he said.

As one example, he presented the comprehensive tax workflow, with processes streamlined and supported seamlessly with CCH solutions. It means that every step in a process is made more efficient and effective through research, and that innovation facilitates the flow of work across multiple processes in a streamlined and seamless way.

"Best in Process aligns research solutions with optimized workflows and creates the highest productivity across business processes. It’s a unified system that includes solutions that make your firm’s work flow faster, with processes that make the work flow smoother," said Sabbatis.

CCH, a Wolters Kluwer business is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite , CorpSystem®, CCH® IntelliConnect®, Accounting Innovation Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. Follow us now on Twitter @CCHMediaHelp. Wolters Kluwer is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam and are included in the AEX and Euronext 100 indices.