One of the vital vital issues when constructing a complete follow administration resolution is guaranteeing that your techniques can talk with each other. That means that you can acquire 360-degree visibility and context into which operational practices aren’t operating optimally.
How Baker Newman Noyes automated their tax workflow
Baker Newman Noyes (BNN), a U.S. High 100-ranked tax, assurance, and advisory agency, is aware of this. That’s why, when trying to enhance operational efficiencies by automation, the agency first targeted on creating visibility for info popping out of GoFileRoom and FirmFlow.
“We actually wanted to have some visibility that allowed us to measure every step of the workflow and in addition the distribution of labor,” says Travis Hersom, BNN’s Chief Info Officer.
To create that visibility, BNN used an utility programming interface (API) to drag the mandatory knowledge from GoFileRoom and FirmFlow into Energy BI, giving the agency elevated flexibility in surfacing knowledge utilizing visualizations. As soon as the information was made seen, the agency was capable of establish particular areas that required extra time for general course of enchancment. Utilizing the identical API strategy, BNN was additionally capable of enhance the interoperability of the opposite techniques of their workflow.
The good thing about APIs
Suppliers that embrace different firms’ tech and create APIs that permit disparate techniques to work collectively carry one other degree of worth to accounting companies.
“The truth that we will pull this knowledge out of GoFileRoom and FirmFlow and put it right into a visualization actually offers us the power to know the distribution of labor in a method that you may’t get from Excel or doing extracts, and even a few of the dashboards which are out there immediately,” Hersom says. “We had simply moved to a brand new follow administration platform that has extra of this open structure and leverages APIs. And now with GoFileRoom, we will have these two techniques speaking collectively and decreasing loads of waste inside our processes. The API made it very simple for us to begin to sew these techniques collectively. We now not have to do duplicate entry in a number of, completely different techniques. We will cross info from system to system, which permits us to get a single supply of reality. These are only a couple fast wins that we’ve been capable of get out of this engagement.”
Now, BNN is taking a data-driven strategy to optimizing workflows, serving to the agency meet consumer expectations now and sooner or later. As a result of the agency can see all knowledge in context, it is ready to constantly modify as consumer and worker calls for change, setting the agency up for better development sooner or later.
That’s what Thomson Reuters calls future-proofing the agency.
How future-proof is your agency?
Is your agency considering as BNN was—about one of the best ways to future-proof your agency? Are you questioning in case your processes are environment friendly sufficient to retain staff and purchasers whereas serving to you develop what you are promoting?
It’s pure to ask these questions; in spite of everything, the affect inefficiencies and unreliable knowledge can have on stunting your agency’s success is well-known. That will help you reply this important query—and take the primary steps towards addressing any shortcomings in your future-proofing efforts—Thomson Reuters lately launched an interactive quiz: Is your tax and accounting enterprise future-proof?
Tax workflow evaluation quiz
The quiz will show you how to uncover your customized paths to:
- Knowledgeable tax options that present up-to-date insights on rules and different essential info
- Operational excellence by effectivity
- Enhanced consumer engagement
- Streamlined processes
The quiz is simply eight multiple-choice questions. As you discover your distinctive ache factors, main follow areas, and demanding priorities, you’ll get a tailor-made Future-Proof Report crafted to align together with your agency’s wants. This report goes past customary suggestions; it presents customized options from Thomson Reuters to enhance your tech stack and information you ahead.
Put together to face the long run with unwavering confidence as you embark on a guided journey with a customized resolution roadmap.
Unlock your customized outcomes with insights and sources now.
For a holistic take a look at how the altering panorama in tax and accounting is impacting our future, obtain the Thomson Reuters Way forward for Professionals Report.
