Client expectations are changing as other industries progress, profit margins continue to shrink as tax work becomes commoditised, and new workflows are constantly being introduced as remote or hybrid work continues. For firms that want to grow, or at least maintain, their current client base commitment to go beyond convention, traditional processes, and Firm business models is required.
Moving your Firm beyond convention requires keeping track of advancements in technology, making recommendations to Firm owners or partners, and prioritising investments in your Firms tech stack.
That’s a lot of pressure for one person with already competing priorities and demands on their time. Rather than placing the onus for technology advancements on one person, consider a firm-wide program that leverages the knowledge and curiosity of your staff.
When the Firm prioritizes technology research and awareness by dedicating time and integrating technology into goals and milestone conversations, it is clear to staff that technology advancement is essential. Consider implementing a quarterly half-day meeting, with team members present a new technology to the group and detailing how it can benefit the organization. Alternatively, implement an annual team-wide contest with prizes for the best finds.
Wolters Kluwer walks the talk
As part of our commitment to innovation and collaboration, Wolters Kluwer hosts an annual internal coding competition called the Code Games. Over two days, teams “bring innovation to life in an environment that encourages collaboration and friendly competition, with customer needs at the center of our focus,” according to Karen Abramson, Chief Executive Officer of Wolters Kluwer Tax & Accounting. In 2021 – our eighth consecutive year - the Code Games saw over 500 participants from 17 countries, and to date, ten Code Game ideas have been successfully developed into products.