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How Should Your Accounting Firms Adjust During The COVID-19 Pandemic?

By now, everybody has already realized how paradigm-shifting the COVID-19 pandemic is. Several sectors and industries have already adapted different new measures to continue to operate — and thrive — in a pandemic-riddled world. If you’re in the field of accounting, you’re not exempt from rolling out ways to cope during these uncertain times. From joining an accounting network to going digital, here are seven ways your accounting firm can adjust.

Know the latest developments. Today, being thoroughly informed is absolutely essential. From the latest COVID news in your area and vaccination programs of the government to tax law updates and available relief programs, knowing vital and verified information can help you arrive at better decisions and provide relevant services to your clients. Joining a worldwide accounting network can also give you access to more credible accountancy-related resources.

Securely go digital. Working from home is now the new norm. And for accounting firms — organizations that work on critical data — the action of going digital is not as simple as it seems. You have to ensure security when moving data to a cloud-based system. On top of this, you have to implement a way wherein you can efficiently manage and organize your online files. Also, as work is being done remotely, you must employ a scheme on how you can monitor the productivity and performance of your people.

Provide technical training to your employees. Along with going digital is the need to employ paperless transactions. As some accountants and staff members may not be fully knowledgeable about web-based operations, you also have to provide technical training to prevent errors, data breaches, and other costly damages.

Inform your clients about the setup you’re employing. Of course, you have to update your clients (and prospective ones) about how your firm will operate amid the pandemic. From personalized email to each of your clients to posting general updates on your website and social media pages, you have to utilize different ways to keep your stakeholders informed.

Invest in video conferencing tools. Meetings among employees and those that involve clients and other partners should be done remotely as much as possible for safety purposes. With the essentiality of video conferencing, it’s now also a must to invest in premium apps, software, and equipment that will help your firm facilitate these activities smoothly.

Consider joining an accounting network. As mentioned, joining a worldwide accounting network during the pandemic can benefit your firm by having access to reliable resources. Through this alliance, you can also get insights as to how other firms operate while ensuring the safety of their employees and clients.

Look after the welfare of your employees. One of the downfalls of remote work setup is higher burnout rates among employees. This is why it’s important to look after their welfare every now and then. Here are some things that you can do: Schedule company holidays, avoid holding meetings that are not necessary, and send out care packages. Also, whenever there’s a need for a physical or on-site gathering, make sure to follow guidelines and the minimum health protocols.

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