I like to call Harish an Accountant 2.0, simply because he performs his functions in a highly collaborative environment, using Web 2.0 tools. Harish and his team are quite comfortable doing accounting for clients in the USA and Australia. 

TA: Harish, tell us about your experience withWeb 2.0 tools and how a thoroughbred accountant such as yourself got involved? 

Harish: Well, I must give a lot of credit to my clients. I was used to remote accessing desktops and performing various bookkeeping and accounting functions on the client’s Finance and Accounts applications. Web 2.0 happened because some of our customers at ThomasandAlex started using on-demand applications such as Netsuite and SpringCM (www.stylusap.com). 

TA: Where do you see significant benefits being added to your own productivity and thereby in you ability to add value to your customers? 

Harish: Process,Project and task management have all moved to a new level with the kind of collaborative environment we use today. Earlier I used to take instructions from clients on email or IM, mostly Skype and do the work. Further feedback came on the same channels. Today, my client and I use wikis for collaborating on specific projects and we have a superior experience in tracking, commenting and ensuring that work completes effectively with high efficiencies. We can even have selective access to other stake holders like Auditors to come in for specific item closures. In fact our experience on tax returns closure was far superior to earlier times, because we had three way collaboration on a wiki between my client, our team and the client’s auditor.

TA: Can you list down the advantages you see for an accountant to build skills in collaboration and collaboration tools?

Harish: Sure. My list would be as follows:

• Improved management of project tasks and processes on wikis. This ensures that work gets completed accurately and we do not miss on filings, timelines or documentation.
• High traceability. Improved visibility on communication trails. Every comment added gets alerted to stakeholders on email.
• Improved documentation management. 

The CCH Acounting Trends survey conducted towards the end of last year showed that the greatest factor driving change in firms is the need to increase revenue and reduce cost  through productivity and efficiency improvements. Improving processes and workflows, going paperless, outsourcing and smartsourcing, on demand applications are some of the hot strategies being looked at as potential drivers. 

Mike Braun, the Intacct CEO has this to say "Cloud-based accounting applications dramatically improve the economic model for client accounting services. CPA firms report a 50% improvement in financial performance for their client accounting services practice. Here’s the breakdown: 100% increase in proactive consulting hours; 3% to 5% increase in overall billings by offering more, higher value “trusted advisor services;” 10% capacity increase for accounting staff; time savings of 50 hours per bookkeeper per quarter; and a near total elimination of in-house IT expenses" 

The real breakthrough is when firms learn to leverage combinations of some of the strategies mentioned earlier, as suits them best. For example, you can select the cloud based application that best suits your business model and workflows. From there, you can smartsource - or in other words design your workflow to take advantage of remote engagement. It matters little to the cloud application whether your accountant is working from his office, home or even from another country. The key here is how you design your solution. We have collaborated with some of our clients in designing  solutions for them with good results.  If you are ready to consider this for your business, contact us and we will be happy to serve you

When ThomasandAlex began its services, the core of the value proposition lay in providing bookkeeping and accounting services with an edge. Being trusted with the upkeep of books of the business also gave the privilege to examine improvement opportunities in business operations. But how does a qualified accountant get empowered to provide services with such an edge? These recent initiatives have greatly helped:

1. Business process mapping and Business Analysis:
   
2. Productivity and Quality Assurance framework
3. Technology solutions that take advantage of SaaS and PaaS

What is the real value proposition of Cloud Computing?

We have entered an era where business is getting impatient with the kind of IT support  it has been used to for well over a couple of decades now. With everything going 2.0 business needs more experimentation to achieve quick assembling of solutions, eliminate things which will not work and adapt what will fill the need. These need to be delivered in a highly responsive and flexible environment. Speed has become the essence of the game. Cloud computing or more simply software, services and/or infrastructure delivered on a pay per use mode over the internet, has an attractive value proposition.

1. You can try out a solution or a software or even a service (check out www.stylusap.com for a software and services combine)  without a commitment.
   
2. You have an immediate access to perform all the basic features on offer. Try it and justify later.
3. Use it and scale it as you go.
   
4. Forget all the earlier restrictions in the form of approvals, CIO endorsements etc that were required before an IT solution was pressed into service for your department.
   

In the past, enterprises have leveraged the advantages of outsourcing and offshore processing centers. Entry barriers have been high in this space for smaller companies owing to the initial investments in setting up proprietary environments and training cross cultural workforce.

The advent of SaaS applications and Cloud Based Workflows has thrown open the advantages of Platform Driven Services to the medium sized and small businesses. Without the need for upfront heavy investments, you can set up an environment that suits your workflows.  Then you can get to choose between engaging an on-premise team or a remote team or even a combination of the two, based on your assessment of risks and cost advantages.

We (www.thomasandalex.com ) have been increasingly impressed with the benefits from our experience with customers, moving them from a traditional VPN (Virtual Private Network) based services delivery model to a cloud based delivery model. This has also been the inspiration behind launching our latest offering - On demand Accounts Payable Solution (www.stylusap.com)