It seems odd to blog a press release in which you're quoted --- but that's exactly what's happening here. But, this is interesting news and important to practitioners of public accounting so ... read on
NEW YORK – May 2006 – Thomson Tax & Accounting, a business of The Thomson Corporation (NYSE: TOC; TSX: TOC), has announced it will sponsor The CPA Technology Advisor’s Productivity Survey—the accounting industry’s premiere productivity assessment tool—through 2008. The ongoing project evaluates firms’ productivity by measuring the types of technology that accounting firms are adopting and the extent to which they are using it effectively.
In an effort to specifically explore the relationship between technology and productivity for practicing accountants, The CPA Technology Advisor developed the survey and launched it in 2005. Comparative data helps firms evaluate their productivity levels, compare their productivity with other accounting firms and improve productivity based on best practice technology processes.
“Thomson Tax & Accounting is excited to partner with The CPA Technology Advisor in presenting the productivity survey,” said Roy M. Martin, Jr., president and CEO of Thomson Tax & Accounting. “TTA has long encouraged accounting, tax and financial professionals to implement technology that will enhance productivity and profitability. This survey helps them identify technology practices to improve their bottom-line. We are pleased to sponsor this effort.”
“Practicing accountants know the value of measuring and tracking important metrics for their clients. We encourage those same professionals to measure and track the technology adaptations that can enhance their own practice's productivity and profitability,” said Gregory L. LaFollette, CPA.CITP, executive editor of The CPA Technology Advisor.
The survey is free and consists of approximately 50 questions related to professional practice standards, office processes, backup procedures, paperless office technologies, connectivity and general technology utilization. After completing the survey, firms receive a Productivity Score along with recommendations for additional technology adoptions to enhance productivity. With objective comparative data, the survey reveals a strong positive correlation between technology implementation and accounting firms' productivity and profitability. Approximately 1,000 firms have submitted data to receive their productivity score since the project’s launch. Thomson Creative Solutions—a leading provider of integrated software and services systems to practicing accountants—led the initiative for Thomson Tax & Accounting’s sponsorship of the project. To take the survey, please visit www.CreativeSolutions.Thomson.com/productivity.