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How successful is cloud adoption in your accounting firm?

Uncategorized Feb 14, 2020

So I have a scoring method called a CAP Score and it's all about your cloud accounting platform and it's a method of evaluating how successfully your firm is adopting cloud technology, utilising all of the features and all of the benefits it can give to your firm.

So, the first level is 0.5 and that's where you've adopted a cloud accountant vendor and you're still using it in a very manual manner. So data comes in manually, people are keying that in, whether it's the client or yourself and the bank feed isn't set up properly and for the majority of clients, it's still a very manual process, you just replace the spreadsheet or a desktop type of system with a cloud offering.

Level 1.0 is where we start to get a bank feed in regular for the majority of our clients and we're also scanning receipts, invoice, purchase invoices, sales invoices and they're going into the cloud accounting system, on a regular, at least 12 times a year. Not quarterly for VAT returns and not yearly for annual accounts. That's when we get to level 1.0. The reason that's important, is it allows you to be insightful and proactive with clients.

Then level 2.0 is where we start to look at automating the finance function. So that's the expenses, the payroll, the payments in and out the credit control, the cashflow reports, the management reporting, all of those areas.

And, then finally level 3.0 is where we start to integrate and work with the operational systems. So it could be the agricultural system or the till system or the job management system, stock system, their online site, their E-commerce, that type of thing.

So those are the four levels that you've got, so if you're wanting to understand more about where you fit within that, I've got a CAP Score diagnostic tool, go and fill that in and you'll get a personalised report back from us. 

You can take the free cloud adoption quiz here.


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