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Automate and Augment Your Tax Practice with Today’s Technologies
Attend any accounting industry conference today, and you’re bound to encounter sessions on emerging technologies including robotics, artificial intelligence, blockchain and machine learning.
Those are all fascinating and worthy topics, but for many tax practices around the country, the question isn’t “How can we implement emerging technologies?” but “When will we finally start leveraging the technologies that have been around for a decade?”
That’s right. CCH® ProSystem fx® Scan with AutoFlow Technology was launched in 2008 — more than a decade ago. Yet year after year, we find that adoption rates for scanning and data import solutions, electronic signatures, online tax organizers and other time‑saving technologies are not where they should be.
In this white paper, we’re going to uncover the reasons some professionals fear change, what the future holds for firms that resist transformation and, if your firm needs to catch up, how to make that happen.
The Challenge: Change is Hard
It isn’t just new and emerging technologies that people resist. Change is difficult even when firms try to leverage existing technologies in new ways or adopt improvements to technologies that have been around for a while because this still involves change. Never assume that just because the change is within an existing platform or it is part of a solution to a problem that has been plaguing your firm for years, people will jump on board. You still have to consider that change is hard and you may face opposition.
Research on brain function demonstrates that resistance to change is not simply a psychological reaction, but a physiological one. In many ways, our brains perceive change at work as a threat to survival. It causes our heartbeats and breathing to speed up, heightens our sense of awareness and sends adrenaline to our muscles in preparation for a “fight or flight” response. Change actually provokes sensations of physical discomfort.
There are five reasons people resist change:
- Fear of the Unknown
- Loss of Security or Control
- Bad Timing
- Individual Predispositions