Defining Your Technology Priorities

VIEW AS PDF

By Thomas G. Stephens, Jr., CPA, CITP, CGMA

Technology continues to amaze us all! Recent developments provide tools and services that many likely considered impossible just a few years ago.

For example, think about the automation choices available to businesses today. Likewise, consider your options for replacing traditional applications and servers with various cloud-based services.

In this article, you will learn about defining your technology priorities so that you can realize all the available benefits while simultaneously mitigating risk.

Recognize the Reality That All Businesses Are Different

To begin, you must recognize that your technology priorities are, in fact, unique to your organization. Therefore, don’t focus on what others are doing. Instead, concentrate on what’s best for you and your team while avoiding a “following the herd mentality.” This approach frees you to choose from a complete menu of solutions and platforms instead of only a subset of possibilities.

Embrace Communication and Collaboration Tools

Remote and hybrid work environments are here to stay. While many attribute their rise to the pandemic, these arrangements were already common and growing before COVID-19’s arrival. Unmistakenly, effective communication and collaboration tools are critical to an organization’s success when team members work remotely.

Thus, understanding the capabilities of various platforms such as Teams, Zoom and Slack will help you prioritize the technology you will use to facilitate effective communication and collaboration. Likewise, knowing what you can do with simpler, more personal tools like OneNote and OneDrive can help you deploy a technology stack that works well for your team.

Of course, you may be in an organization where remote and hybrid work environments are not yet in the picture. If that’s the case, communication and collaboration tools like those mentioned above will not likely be a high priority. Nonetheless, you should expect to see the need to become familiar with these technologies in the immediate future as the labor market becomes even more competitive.

As part of that process, you may want to consider non-traditional collaboration tools, including portals, electronic payments and eSignatures. These three tools offer improved efficiencies, reduced transactional friction and improved security. Further, in many cases, you can access and capitalize on these tools with no out-of-pocket cost, increasing the ROI associated with these tools and removing any financial barriers to entry.

Consider a “Serverless” Environment

Moving toward a serverless environment could and should be a top priority for many businesses. While this approach is an evolving strategy for small organizations, you can expect more organizations to move in this direction over the coming decade. Of course, the availability of robust and stable cloud-based platforms is the underlying technology that facilitates this trend.

For example, consider the rise of cloud-based accounting solutions. A decade ago, almost all businesses – regardless of size – utilized an accounting application installed on local servers and computers. Today, that is no longer the case, as businesses of all sizes have access to many terrific cloud-based accounting solutions. Further, the availability of cloud-based platforms extends beyond accounting solutions to Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Resource Management (HRM) and other areas.

Cloud-based applications free team members to work from any location with consistent, high-speed Internet access. Establishing this environment as a technology priority could, therefore, help to recruit and retain talent. It also creates a more agile organization that can quickly pivot to meet changing market conditions. Further, in many cases, the serverless organization will see a decrease in overall technology expenditures.

Prioritizing the Technology You Already Own

All organizations should prioritize the technology they already own. Unfortunately, that action does not always occur. For example, it’s common for firms and companies to invest in and implement a specific technology so that it performs fundamental tasks. Yet, the “last mile” of implementation sometimes never occurs. When this happens, the technology is incapable of delivering its expected ROI.

An excellent and all too common illustration of this issue often appears with Microsoft 365 subscriptions. Many organizations have subscribed to Microsoft 365 and implemented the foundational tools in their subscriptions, including desktop applications and email. However, many of these same companies have not implemented other elements associated with their subscriptions, such as:

  • Data loss prevention;
  • Teams, beyond merely enabling communication and meeting capabilities;
  • Power automate;
  • SharePoint online; and
  • Other cloud-based services.

Keep in mind that Microsoft 365 subscriptions include the services outlined above and others at no additional charge. Thus, by definition, subscribers who choose not to implement these types of tools are not maximizing their ROI in Microsoft 365.

Additionally, you can prioritize everyday applications such as Outlook, Excel and Adobe Acrobat, among others, to achieve better results in less time. In this context, prioritization would likely take the form of training team members on how to use these tools more efficiently and effectively.

Security As a Priority

Another area where business professionals should consider prioritization is security. More specifically, is data security and privacy a top-of-mind concern for all team members? And, if it is not, what must be done to elevate it to the appropriate status?

Cybersecurity risks have never been more significant than they are today. Likewise, private and sensitive information is under siege at seemingly every turn.

To prevent the unwanted consequences of a security breach or disclosure of private data, we must elevate security and privacy to be top-of-mind issues for all team members. Security and privacy must be an “everyday” issue if that’s your priority.

Fortunately, prioritizing security and privacy need not be as challenging as some might fear. For example, a 10-minute “security refresher” in a monthly staff meeting can go a long way toward keeping security and privacy at the forefront of team members’ minds. Additionally, team members must receive appropriate formal security and privacy training to understand the all-too-real and persistent security and privacy risks.

Considering the Options

Technology options available to business professionals have never been better and that’s great news! But, the rapid pace of change can sometimes leave us all feeling overwhelmed by our choices.

To address this issue, focus on what is – or should be – most important to you, your team and your organization. Then, upon defining your technology priorities and being proactive in implementing them, you will likely realize the results you seek.

About the Author: Tommy Stephens is one of the shareholders of K2 Enterprises. At K2, he focuses on creating and delivering content and is responsible for many firm management and marketing functions. You may reach him attommy@k2e.com and you may learn more about K2 Enterprises at www.k2e.com.

 

 

 

  • The Future of CPA Licensing: TXCPA Members in Action at the State Capitol

    With the profession facing a talent shortage, legislative efforts are underway to introduce alternative pathways to licensure. Additionally, bills have been introduced to address CPA mobility and practicing accounting across state lines. TXCPA members took action at the Texas Capitol to address and emphasize the importance of these initiatives in strengthening the profession.
    View Article
  • CPE: Corporate Codes of Conduct - Similarities and Differences, and Implementation and Communication Strategies

    Codes of conduct serve as essential guidance for organizations, ensuring ethical behavior, regulatory compliance and corporate integrity. This article examines the significance of codes of conduct, highlighting examples from Fortune 500 companies. Effective implementation involves executive endorsement, ongoing communication and integration, and reinforcing accountability.
    View Article
  • Build on Our Momentum

    During TXCPA's 2025 Advocacy Day at the state Capitol, CPA professionals met with legislators to discuss proposed legislation on alternative CPA pathways and mobility. These efforts strengthened relationships with lawmakers, positioning CPAs as trusted advocates for the profession. The positive feedback from legislators reflects the impact of these advocacy efforts.
    View Article
  • Assessing AI From a Tax Perspective, Part 2

    In part 2 of a series, this article examines the risks and limitations of using AI in tax preparation. While AI tools like ChatGPT, Copilot, Perplexity, and TaxGPT can assist with tax research, their accuracy depends on precise prompts and professional oversight. Responses are often outdated, misleading or incorrect, posing risks to professionals who rely on them without verification.
    View Article
  • Understanding Sustainability Accounting Standards Board Standards

    The Sustainability Accounting Standards Board (SASB) provides industry-specific guidelines for companies to report on ESG factors that impact financial performance. Companies use SASB metrics to enhance investor transparency and manage ESG risks. While SEC regulations on sustainability remain pending, over 3,000 companies worldwide have voluntarily adopted the standards to improve corporate performance.
    View Article
  • What’s Happening Around Texas - March-April 2025

    TXCPA chapters across Texas hosted various events to engage members and support future CPAs. TXCPA Dallas held a Coffee & Connections event, while TXCPA East Texas members inspired students at UT Tyler’s Beta Alpha Psi meeting. TXCPA Fort Worth welcomed new licensees at a luncheon and in San Antonio, members celebrated new iDEAL graduates and elected the 2025-2026 Officers and Directors.
    View Article
  • Navigating Timekeeping Compliance in Government Contracting

    Texas contractors receiving government funding must maintain rigorous accounting practices, particularly in timekeeping and labor distribution, to ensure they are adhering to federal regulations. CPAs and finance professionals play a crucial role in enforcing applicable standards. Mastering timekeeping is essential to help meet federal standards and uphold the integrity of taxpayer-funded projects.
    View Article
  • Spotlight on CPAs: Shilpa Boggram Sathyamurthy, CPA-Houston, CA

    Shilpa Boggram Sathyamurthy is an accounting profession leader with experience in both public and industry accounting. In this Spotlight on CPAs article, she discusses the differences in their focus, workload and learning opportunities. She also actively contributes to TXCPA through committee service, valuing collaboration and professional development.
    View Article
  • Do New SEC Disclosure Requirements for Share Repurchases Dilute Their Benefit?

    The SEC introduced new disclosure requirements for share repurchases, aiming to increase transparency. Under the updated rules, companies must now disclose daily repurchase data in quarterly reports. Companies must also disclose whether insiders traded in the four days before or after announcing a buyback. The rules do not specifically address accelerated share repurchase programs.
    View Article
  • Custom Reporting Solutions for ASC 842 Lease Accounting

    ASC 842 compliance remains challenging as organizations manage complex lease portfolios and multiple accounting systems. While standard software offers reporting features, many require custom solutions to integrate specific accounting attributes and enhance internal controls. Using a structured approach to developing custom reports can help improve efficiency and support the decision-making process.
    View Article
  • 2024-2025 Accounting Education Foundation Scholarship Recipients

    The TXCPA Accounting Education Foundation (AEF) awards scholarships to outstanding students, providing not only financial aid but also connections to a supportive community of experienced professionals. Congratulations to these exceptional students for their dedication and commitment to excellence!
    View Article
  • Take Note

    In this edition of Take Note: How to Get the Latest Updates on BOI Reporting; Safeguard What Matters Most; Accountants Confidential Assistance Network; Advocacy Day and Midyear Leadership Council Meeting; TXCPA Career Center; CGMA® Designation
    View Article
  • Classifieds

    The classified ad section features listings for practice owners looking to sell, professionals seeking firms to purchase and a variety of specialized services. Whether you're looking to expand, sell or explore niche opportunities, these classified ads can connect you to valuable business prospects and resources.
    View Article

CHAIR
Mohan Kuruvilla, Ph.D., CPA

PRESIDENT/CEO
Jodi Ann Ray, CAE, CCE, IOM

CHIEF OPERATING OFFICER
Melinda Bentley, CAE

EDITORIAL BOARD CHAIR
Jennifer Johnson, CPA

MANAGER, MARKETING AND COMMUNICATIONS
Peggy Foley
pfoley@tx.cpa

MANAGING EDITOR
DeLynn Deakins
ddeakins@tx.cpa

COLUMN EDITOR
Don Carpenter, MSAcc/CPA

DIGITAL MARKETING SPECIALIST
Wayne Hardin, CDMP, PCM®

CLASSIFIEDS
DeLynn Deakins

Texas Society of CPAs
14131 Midway Rd., Suite 850
Addison, TX 75001
972-687-8550
ddeakins@tx.cpa

 

Editorial Board
Derrick Bonyuet-Lee, CPA-Austin;
Aaron Borden, CPA-Dallas;
Don Carpenter, CPA-Central Texas;
Rhonda Fronk, CPA-Houston;
Aaron Harris, CPA-Dallas;
Baria Jaroudi, CPA-Houston;
Elle Kathryn Johnson, CPA-Houston;
Jennifer Johnson, CPA-Dallas;
Lucas LaChance, CPA-Dallas, CIA;
Nicholas Larson, CPA-Fort Worth;
Anne-Marie Lelkes, CPA-Corpus Christi;
Bryan Morgan, Jr, CPA-Austin;
Stephanie Morgan, CPA-East Texas;
Kamala Raghavan, CPA-Houston;
Amber Louise Rourke, CPA-Brazos Valley;
Shilpa Boggram Sathyamurthy, CPA-Houston, CA
Nikki Lee Shoemaker, CPA-East Texas, CGMA;
Natasha Winn, CPA-Houston.

CONTRIBUTORS
Melinda Bentley; Kenneth Besserman; Holly McCauley; Craig Nauta; Kari Owen; John Ross; Lani Shepherd; Patty Wyatt

 

Your TXCPA membership has not been renewed for 2025 -2026. Renew now.