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client retention rate

Best Practices for CPA firms to Improve Client Retention Rate

Whether you are a start-up or a mid-level firm, established corporate clients are important year-round.  According to Amy Gallo, a management expert, and consultant, in her article on the Harvard Business Review, acquiring a new customer can cost 5-25 times more than retaining an existing customer. This is not to say that going out and …

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technology for accountants

How Technology can help CPA Firms Uncover New Opportunities?

Emerging technology allows CPA firms to redesign their workflow and improve business opportunities like never before. Particularly, technology for accountants enables a novel analysis of structured and unstructured data in ways not possible before.  For example, information from non-traditional sources (such as social media, TV, and the internet) can be evaluated and processed with pertinent …

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accounting firm

Top 5 Challenges that CPA Firms Face Today and how can they be Overcome?

Whether it is the ever-evolving nature of government regulations and tax laws, or the struggle to remain cost-effective, accounting firms today don’t have it easy. According to the 2019 PCPS CPA Firm Top Issues Survey, finding qualified staff and keeping up with changes to tax law are among the CPA firms’ top concerns.  With the …

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accounting and taxation

The Impact of Technology on Accounting and Taxation

CPA firms have always been structured for reliability and efficiency, independent of the amount of revenue generated. However, today, with fierce competition, rising expectations, and an increasingly digital landscape, it is imperative that CPA firms adopt an evolved approach to survive and thrive.  For instance, accelerating time to business value is what will set a …

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outsource accounting services

Why should CPA Firms Outsource their Accounting services?

The financial landscape has changed significantly over the last few years. Legislations, in particular, have become more stringent making governmental compliance and ensuring a high degree of transparency mandatory. In addition, the digital landscape has evolved considerably resulting in fierce competition and rising pressure on CPA firms. They now need to ensure consistent and quality …

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