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Is your firm ready for a post-Covid world?

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Like a large majority workers, accountants are have been placed under extreme pressure since the start of the pandemic. Tackling the effects of an unstable economy, understanding and implementing regular legislative changes and government schemes, not to mention an impromptu overnight shift to a new, less familiar way of working.

Life post-pandemic is set to be extremely different from what we were used to. As we emerge from another lockdown, we look forward to many more months of social distancing, small gatherings and home-working.

As some firms look to open their office doors to a small number of employees, we discuss the elements to be considered by practices if they wish to thrive in the new, post-Covid world.

Preparation is key!

Firms must anticipate any challenges that may be presented to them and have a plan of how to overcome them.

By future-proofing themselves, practices will be shielding both themselves and their employees against many of the threats posed to them, as well as removing the likelihood of further upheaval from normal operations, should a similar situation occur in the future.

Those who reacted and adapted promptly to the changing circumstances at the beginning of the first lockdown, noticed significantly less disruption than those who were not prepared.

Now that we’ve seen the economy almost reaching a pre-pandemic high, we must shift our focus and consider how we are going to recover as a nation. Accountants must focus their attentions not only on the aforementioned but also how they are going to succeed and thrive in the ‘new normal’.

Where does technology come in?

We’re fortunate to be in an era where technology is readily available to assist our needs and can be a real asset, offering the ability to help us adapt to our surroundings. Cloud technology is particularly beneficial, allowing firms to collaborate effectively from various locations whilst keeping their data secure.

By ensuring the right technology is on hand, firms can endure long-term remote working and face minimal to no inconvenience or upheaval.

Remote working significantly increases the chances of being targeted by a malicious cyber-attack, and uncertain economic times makes the perfect climate for opportunists, therefore it’s of utmost importance to consider security as a top priority.

Whilst practices focus on protecting themselves, they should consider protecting their clients’ too. Many business owners are in a state of panic due to loss of trade caused by the pandemic, and are therefore more vulnerable and more likely to fall victim to scams. Practices can go above and beyond, and offer a level of cyber security training to their clients to ensure they protect themselves.

As a direct result of the pandemic, relationships between accountants and clients are set to get stronger, with accountants offering a more consultative approach and more regular contact to help clients get back on track.

How can CaseWare help?

Our software modules have been developed to integrate seamlessly and offer a streamlined and accurate process to execute even the most complex financial reporting. We are committed to constantly developing our software to keep users up to date with the most recent and ever-changing legislative changes, something that is even more important as we see regular adjustments to the Covid legislations and support schemes available.

Our cloud software promotes team and client collaboration from any location, meaning there is no need to worry about a change in working environment, should we plunge into another lockdown.

If you would like to learn more about how to prepare for a change in your clients’ wants and needs whilst ensuring your firm is protected against any further challenges that may arise, then why not take a look at our ‘Are you prepared for a post-Covid world?’ eBook? Where we give an in-depth insight into the top priorities for accountants as they move from adapt and survive to succeed and thrive. To download, click here