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Tips for building a tech plan

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The technology plan for businesses should be complementary to the overall plan for your business and reflect the assumptions in the business strategy. It is therefore important to put together a technology plan that will help you realise your strategy over the next five years, says Andrew Flanagan, managing director at accounting software company Digita.

“Your choice of software in the early days will be key – there are many solutions for practices on the market, but select the wrong one and you may find that you have to “live with it” for some time, since switching will require staff retraining and you will have increasingly more clients to service.”

Things to consider when putting together your technology plan are:

Cloud-based v desktop

Most solutions are now available hosted or on the Cloud, thus minimising requirements for local IT infrastructure and management thereof. All you need is a reliable internet connection. This avoids the need to buy and maintain expensive IT kit and the need to load updates to the software – but you need to be prepared to store confidential client data in the cloud, so it’s vital to choose a suppler you trust to keep your data safe.

Get a website

Your website is your shop window – a vital way to gain new clients and work with existing clients; so get your site live as quickly as possible. You may want to start small with basic information about your business and contact details, but look at what others are doing and think long term about how you want to use the web. To achieve good visitor traffic (and generate leads that you can follow up) you will need to have interesting content like advice and guidance on regulations.

Prioritise your requirements

You may not want to offer a full range of services, so think about what you actually need in the short term versus long term when setting up your business. For example, if you are mainly focused on individuals as clients, you may not need corporation tax compliance software and company secretarial software.

Get recommendations

Make sure you get references for any and all software solutions you are considering, preferably from a party known to you and who you trust. Mobile solutions Tablets and smart-phones are revolutionising the way we work, so make sure the solution and technology you choose will allow you to access your practice solutions on the move – at a client site or when traveling. Many clients will expect you to have their information available instantly, wherever you are.

Communicating with your clients

Many practices are moving away from paper and using technology such as secure portals and e-signatures to share documents on-line with clients. This speeds up the process of approval and checking and is cost-efficient and more secure than post or email. Single or multiple suppliers There can be advantages in dealing with a single supplier (for example you will only need to call a single support help-line and the solutions should be integrated). There may be some specialist solutions, however, that do not come as part of a package.

Build a multi-year budget

Your technology budget needs to consider the ongoing cost of compliance software and not just the costs arising in the first period. Pay special attention to renewal rates as some providers may offer an attractive deal to get you on board but will charge much higher rates after year one.

His final word of advice is to find a technology partner. One that wants a relationship with your firm in the long run and wants to work with you and be a part of making your practice a successful one.

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