Why Your Accounting Firm Needs Managed IT Services

Who is a managed IT services provider?

A decade ago, having a few “jack-of-all-trades” tech guys was considered enough to support the IT systems across the organization. All that has been changed in the current landscape.

Nearly all organizations are struggling to navigate a complex IT environment. Legacy issues and gaps are persisting in their IT that obscure profitability. This problem is bigger in the post-COVID world as IT has become even more complicated than ever before.

Managed IT services take that worry off your plate. It is a deliberate, planned, and systematic arrangement to manage the IT ecosystem through a dedicated service partner. The service partner takes care of all the technical areas through remote monitoring or an assigned account executive. IT support takes care of data security, cybersecurity, network downtime, and hardware or software maintenance. A managed IT services provider functions like a strategic partner and provides foundational support to accounting firms.

Why firms should partner with a managed IT services partner

Here are some of the efficiency gains that a managed IT services partner can bring to your practice:

Data security: Data security remains the biggest concern of accounting firms, as most of their data resides in the cloud, as well as on-premises. It is technically not feasible to manage several hundred terabytes of sensitive data that is subject to privacy regulations (e.g., GDPR, CCPA, etc.). A managed IT services provider can secure that data with layered security arrangements and prevent business-reducing data breaches. The partner can ensure secure data management and processing for accounting applications.

Technology expertise: A managed IT services provider can provide the right tools, strategy, and IT expertise to scale the IT infrastructure of the accounting firm. They also offer insights tailored to the specific needs of your accounting firm. They audit the entire setup and provide the most effective pathways for productivity, data exchange, and cost-effectiveness. Accounting firms can leverage reports and make better decisions related to their IT.

IT support: Another big advantage of managed IT services is IT support. Remote monitoring of IT services ensures that systems in place are up and running. They respond immediately to cyber threats, even during public holidays and rest days. Accounting firms can focus on other important tasks that actually matter and are related to their core business.

Adherence to compliances: The right managed IT services partner stays updated with all the industry regulations and compliances. Otherwise, it is very difficult to keep up with the regulatory requirements and changes. Dedicated systems and frameworks of a managed IT services partner can ensure adherence to all compliances and regulatory requirements.

Change management: Most accounting firms are resistant to technology changes. Transitioning to better systems is similar to replacing the wheels of a moving bus. However, a strategic partner can simplify the path to IT modernization drives. With minimum friction, they can ensure that a new technology or solution has been installed in a firm and absorbed easily by teams through learning and development sessions.

Lower operational cost: A managed IT services partner eliminates the need for a dedicated staff to upkeep the IT ecosystem. Moreover, organizations can prevent costly repair operations down the road with the help of earlier identification and correction of errors before they snowball. Organizations can also regulate the budget and spend it more wisely on things that are actually needed.

Data management: A managed IT services partner can simplify data migration and data annotation services. Accounting firms need not worry about data loss while moving data to a new location or pushing data into new accounting software. They ensure the right integrations to collect, process, and distribute data in real time between different applications. Therefore, accounting firms can prevent disasters before they occur. They also highlight the weak surface areas that require the immediate attention of the organization.

Improved services: Managed IT services help an accounting firm focus on clients’ needs without worrying about downtime. A service partner can ensure continuity in business operations and improve heavy data transactions. The partner can also help accounting firms extract more value from accounting solutions by providing a clear tech roadmap and IT budget.

Less downtime: Downtime is costly and impacts the deliverables. The right managed IT services partner follows a checklist for routine server maintenance. This checklist tracks issues before they cascade into errors. This strategy deals with server disasters, verifies backups, log files, and messaging queues, and checks the memory utilization of servers.

Bottom line: A managed IT services provider helps firms sharpen their practice

The role of managed IT services is changing. The right partner can assume the role of a change agent and play a major role in the business’s success. They attend to diverse business needs, drive innovation, and scale accounting services. More importantly, they make the IT infrastructure safe, secure, and efficient.

However, selecting the right partner can be tricky as most services involve a lot of technical jargon. In the past few years, cloud computing, artificial intelligence, and virtualization have significantly impacted this realm. Therefore, selecting the right managed IT services partner is rife with challenges. That’s why accounting firms should be careful while allying with the service partner.

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Dr. Sangeeta Chhabra, co-founder and director of Ace Cloud Hosting, is a leader and innovative entrepreneur with more than 20 years of experience in the IT sector. She has positioned the company as a leading global provider of IT and managed cloud services, celebrated for its QuickBooks hosting tailored for the accounting sector, as well as its Managed Security Services and Public Cloud offerings for SMBs and enterprises. Under her leadership, Ace Cloud was honored as the Best Outsourced Technology Provider at the CPA Practice Advisor Readers’ Choice Awards 2023, among other accolades. Beyond her professional successes, Dr. Chhabra is a passionate advocate for women’s empowerment and is committed to fostering an inclusive environment at Ace Cloud.