One of the crucial essential concerns when constructing a complete follow administration answer is making certain that your techniques can talk with each other. That permits you to achieve 360-degree visibility and context into which operational practices aren’t working optimally.

How Baker Newman Noyes automated their tax workflow

Baker Newman Noyes (BNN), a U.S. Prime 100-ranked tax, assurance, and advisory agency, is aware of this. That’s why, when seeking to enhance operational efficiencies by means of automation, the agency first centered on creating visibility for data popping out of GoFileRoom and FirmFlow.

“We actually wanted to have some visibility that allowed us to measure every step of the workflow and likewise the distribution of labor,” says Travis Hersom, BNN’s Chief Data Officer.

To create that visibility, BNN used an utility programming interface (API) to drag the required information from GoFileRoom and FirmFlow into Energy BI, giving the agency elevated flexibility in surfacing information utilizing visualizations. As soon as the information was made seen, the agency was capable of establish particular areas that required extra time for total course of enchancment. Utilizing the identical API method, BNN was additionally capable of enhance the interoperability of the opposite techniques of their workflow.

The advantage of APIs

Suppliers that embrace different corporations’ tech and create APIs that permit disparate techniques to work collectively convey one other degree of worth to accounting corporations.

“The truth that we will pull this information out of GoFileRoom and FirmFlow and put it right into a visualization actually offers us the flexibility to know the distribution of labor in a means you can’t get from Excel or doing extracts, and even among the dashboards which can be out there in the present day,” 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 lots 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 are able to cross data 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 method to optimizing workflows, serving to the agency meet consumer expectations now and sooner or later. As a result of the agency can see all information in context, it is ready to constantly modify as consumer and worker calls for change, setting the agency up for larger 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 shoppers whereas serving to you develop your enterprise?

It’s pure to ask these questions; in any case, the affect inefficiencies and unreliable information 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 provide help to uncover your customized paths to:

• Knowledgeable tax options that present up-to-date insights on rules and different essential data
• Operational excellence by means of 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 significant priorities, you’ll get a tailor-made Future-Proof Report crafted to align along with your agency’s wants. This report goes past commonplace suggestions; it gives 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 answer 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.