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Why it’s Critical for Accounting Practices to Invest in Technology NOW

May 3, 2024 12:02:54 PM | 3 min read

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Bob Dylan once sang that, “The times, they are a-changin.’”

It’s a sentiment that only becomes truer with the acceleration of technological advancement. And while some technology is more smoke-and-mirrors than substance, there’s a lot of tech that is substantial, and thus a valid case to be made for being on the cutting edge of adoption.

Firms that implement critical technology successfully will thrive no matter how difficult the times might be. There are a number of reasons why:

No Going Back

First, it’s always been true, through times easy and difficult, that the market, industry, and your business won’t go back to the way things were. None of these factors will regress in terms of the way we work, nor from where we work. There will always be that conspicuous pressure to increase efficiency in a competitive economic climate.

Additionally, as firms identify efficiency bottlenecks, the smartest among them will immediately search for solutions to alleviate that effect. Inevitably, technology becomes that exact means.

Second, technology adoption has, and will continue to be, a leading indicator of firm success. Beyond the efficiency gains, a commitment to new technology demonstrates a firm’s mindset. Is your firm committed to growth and innovation, or is it more interested in maintaining the status quo?

The Windfall of Adaptation

Finally, technology is worth the investment both today and tomorrow.

“Cloud-based technology investments are paying off ... In many cases, these tools were implemented in the last several years, but many firms haven't had wide-scale adoption,” wrote expert Amanda Wilkie for Boomer Consulting.

“Now they're really seeing the benefits of those investments as these technologies allow them to stay connected and support collaboration while working remotely."

The ROI is clear: The firms that invest in technology will move further and faster, and the gap between those firms that understand the importance of tech and those that don’t will continue to widen.

So, the natural question to ask at this point is which meaningful technology can help firms not ‘just’ close that gap, but stay ahead of the curve? Suralink stands ready to help your firm capitalize on the advent of technology in a variety of contexts that all pertain to providing a holistic and meaningfully improved experience. Get in touch with our sales team to learn more about what Suralink’s award-winning platform can do for you!