By Gabrielle Fontaine When the going gets tough, the strong rise to the challenge. That should be true of your document workflow and management systems, especially now when more information than ever must be accessed, shared and stored digitally. How information is handled and flows through your accounting practice can either support or deteriorate your […]
Resource Category: Blogs & Articles
Digital document and information management strategies for credit union growth
Growing your credit union’s membership and revenue is an ongoing challenge. This is especially true given the dynamics of the current business climate such as: increasing pressure on net profit margin due to diminishing revenue opportunities; rising expenses related to operations, compliance, and technology expenses; and a highly competitive landscape which makes attracting and retaining […]
Key considerations for credit unions selecting a cloud-based document management platform
The value of implementing a cloud-based document management platform for credit unions is clear in terms of the benefits it offers such as: Streamlining operations; Improving productivity; Creating workflow efficiencies; Enabling a remote workforce; Addressing regulatory requirements; and Offering an elevated member experience. In order to maximize these benefits for your credit union, the […]
Safe and sound: How cloud-based document management supports credit union information security and compliance
Increasing compliance and security requirements across the financial services industry are, ideally, designed to provide consumers, financial institutions and governing bodies with peace of mind that sensitive data is being adequately protected and key regulations are being followed. However, the resources needed to meet these demands are also escalating and putting significant financial pressure on […]
The Surprising Secret to Effectively Growing Your Accounting Practice
Have you ever faced a challenge and felt incredulous that you could possibly ever accomplish it? That’s exactly how I felt when I decided that I was going to run a half-marathon, after realizing that I was out of shape, under too much stress, and my physical and mental health depended on making a big […]
Out with the old, in with the new: 3 SAAS tools that can transform your small & medium-sized business operations
Like many small and medium sized business owners, Dawn Brolin, CPA and owner of Powerful Accounting, had spent many evening and weekend hours catching up with admin tasks to keep her business affairs organized. Frustrated by these repetitive, non-value adding activities consuming more and more of her personal time, Dawn knew that she needed to […]
2020 PTIN Renewals: Data Security Responsibilities Statement
In September, the IRS notified all registered holders of PTINs (Preparer Tax Identification Numbers) of a new data securities responsibility statement on the 2020 PTIN renewal form. Consequently, it’s more important than ever (in fact, it’s the law) that your firm has the proper procedures in place to ensure the protection of all taxpayer information. […]
California Consumer Protection Act (CCPA): What it is and what it means to you
On January 1, 2020 the California Consumer Protection Act, or CCPA, went into effect. While the landmark law was officially passed last year, most Americans are just now catching wind of its sweeping changes to how consumer data can legally be processed and managed for California residents. That’s because clarity around the specific regulations of […]
It’ll Never Happen to Me: When the Unexpected Becomes Reality
When we broach the topic of unexpected disasters, such as natural disasters and employee theft & fraud, the most common line we hear back is “Oh, that’ll never happen to me!” It’s astounding that more firms are not prepared and ready to ensure business continuity should an unforeseen event arise. While we hope that you […]
7 Ways to Incorporate Mindfulness into Your Workday
Mindfulness is, at its core, the practice of observing rather than judging or immediately reacting. It’s intentionally taking a step back to assess what is going on internally for you throughout the day. Having this ability allows you to not only live and work in a more balanced and productive way, but it can also […]
Data Security Plan: What is it and why do you need one?
Did you know that as a tax professional, you are required by law to have a data security plan in place? According to the FTC Safeguards Rule, tax return preparers must create and enact a data security plan to protect client data. Failure to do so could result in an FTC investigation and could be viewed […]
How to Respond to a Data Breach
While you are taking precautions to protect client data, it is still necessary to have a plan in place in the event of a data breach. This is an area where it pays to be proactive—every second counts in a data breach event, so if you have a plan in place ahead of time, you’ll […]
Reporting the ‘Red Flags’ of Money Laundering
Accountancy professionals are targeted for their skills and services, which can provide a cloak of legitimacy to illicit cash; accountants have a crucial role to play in protecting the economy and wider society by submitting Suspicious Activity Reports (SARs). Money laundering isn’t always obvious, but the consequences can be severe. This article outlines and reinforces […]
Training Your Team on Cybersecurity
“The best defense is a good offense.” We’ve all heard this a time or two, but when it comes to cybersecurity it couldn’t ring more true. A cyber-attack can result in financial loss, business disruption and can be devastating to your firm’s reputation. Your employees are the weakest link against cybercrime – with over 95% […]
Transparency: Effective Communication in the Modern-Day Workplace
As a business professional, you provide service transparency to your clients, but how do you rate yourself on giving this level of visibility to employees in your practice? You will have more success when your team see themselves as partners in the business rather than hired hands. Three ways your business will thrive with more open […]
How the right document management platform delivers data control, access, and security to credit union members
Consumers are increasingly concerned about the security of their sensitive personal information. This is especially true related to financial data—and with good reason, given the prevalence of cybersecurity threats targeting the financial industry. As consumers’ concerns rise in this area, their trust in many institutions to help safeguard this information is on a serious decline. […]
Working in the Age of Disruption
I’m guessing everyone reading this article has heard some variation of the word disruption recently. It’s as buzzy a buzzword as you can find right now. Seemingly every business you read about claims to be “disrupting the paradigm” or see themselves as “disruptors changing the way we live.” Inc. Magazine even publishes a list of […]
You Have Nothing to Fear: 5 Tips on Adding New Technology to Your Business
Change always invites some level of fear. We tend to resist change because of the fear of the unknown. We may wonder, what happens if we implement new technology and it doesn’t work out? But in business, change is inevitable. Just because things are good today, doesn’t mean it will be the same tomorrow. We […]
Strategic Planning: I Never Have Time
Strategic Planning – Why is it So Hard to Find Time? Why is it always so difficult to set time aside to create goals and strategic plans? Even if you do set time, you’re often distracted or don’t know how to start, why is that? Firstly, we naturally tend to avoid proactive analysis of ourselves […]
SmartVault and the Impact of COVID-19
At SmartVault, we have a monthly all-hands meeting where we discuss our business outcomes, what’s working and where we can improve. But last week’s meeting was different – instead of music and a big gathering over Potbelly sandwiches – I was staring at a screen full of thumbnail images of our team, coming to join […]