If you are an accountant, you probably know that technology is becoming not just a nice-to-have,
but an absolute necessity for success in the financial services sector. Many professional accountants and firms see managing information technology (IT) as a necessary evil – and it is true that IT
management can be a challenge for many businesses. This is why managed IT services has become so popular in recent years.
For those who are not aware, managed IT services is a type of B2B solution that enables businesses – including accountants – to entirely outsource the responsibility of managing their IT. We spoke to a company that provides this exact service. TechQuarters has been providing managed IT services
London based accounting and financial firms have been using for years. When we asked them about the service, they went into detail exactly why accountants nowadays need to be more mindful about IT, and the benefits they can get from partnering with a managed service provider (MSP).
Accountants and Information Technology
As anyone reading this will have probably guessed, accountants these days don’t do their work with pen and paper. At the very least, they will be using a spreadsheet program such as Microsoft Excel. More likely, however, they will be using a dedicated accounting software – such as Xero or QuickBooks. More likely, however, they will be using a dedicated accounting software – such as Xero or QuickBooks or receipt scanning apps for flawless digital bookkeeping.
Furthermore, there are other technologies that anyone in business simply cannot avoid using –
things like email and other communication tools; or perhaps cloud storage. The small business IT support London companies get from TechQuarters goes to show that small businesses and sole
traders are using at least a few types of technology that they need help with.
Benefits of Managed IT Services for Accountants
Accountants nowadays use lots of technology, which means they need to have it supported in some way. While IT support for accountants can be done in-house, there are many arguments in favour of
managed IT services being a better solution. Below are some of the top benefits that accountants can expect from this type of service:
- Lower IT Costs: When companies try and keep all of their operations in-house, they end up spending a lot more money than if they outsource. This is because they need to pay salaries, invest in training, and even the time it takes to hire and train personnel is technically money
being spent. Paying for a service is cheaper than hiring and retaining staff, and you save valuable time.
- Free Up Time and Focus: If you’re spending time scratching your head over IT issues, you’re
missing out on time you could be directing towards achieving core business goals. MSPs take the burden of IT off their client’s shoulders, allowing clients more time and energy to direct elsewhere.
- Access New Technology & Solutions: MSPs enable easier (and sometimes more affordable)
access to technology solutions, because technology is at the heart of their business model. They
can help their clients acquire and implement new solutions more easily than if an organisation tried to do it themselves.
- Compete with Bigger Competitors: Small accountants may feel that they have less to offer than their larger competitors; however, smaller organisations have their own advantages in the
market. MSPs help small businesses free up time and resources, and can offer technology to help level the playing field, which means they have more opportunity to exercise their
advantages over the competition.
- Access Diverse IT Expertise: Accountants can always hire their own IT staff; however, doing so would mean committing to a finite number of perspectives. On the other hand, MSPs usually hire a diverse array of staff, with different perspectives, different backgrounds, and different specialisms. This more diverse pool of expertise is much more valuable, especially for smaller businesses and sole practitioners, who need to make sure every technical decision is well- considered.