Templeton Solutions

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Over the last decade, "practice management" has become an industry unto itself.  Beyond the hundreds of private consultants and year-round seminars, we've seen a proliferation of task-specific software.  As a result, it's little wonder why many accounting firms now find themselves operating with multiple - and not always harmonious - systems.  The various applications sometimes work from different platforms.  Staff must be trained and retrained.  And as expensive new tools are added, firms must continually reinvest in IT expertise.

Does it really need to be so complicated?

Even more frustrating, a cobbled network of practice management software might be adequate for basic internal functions, but it does little to build a firm's business through client development and opportunity management.  In today's environment, we know that client retention and cross-selling of services are paramount.  Yet in a recent survey by Harris & Associates (Accounting Today, 2/15/2010) "well over 90%" of executives complained that their firm "isn't spending enough time" cross-selling to existing clients.

The proven solution for this strategic imperative is Customer Relationship Management (CRM) technology.  CRM is by now the standard throughout the financial services sectors, not to mention its widespread and sophisticated use by retailers and manufacturers in the consumer marketplace; yet many in our industry have been reluctant to embrace it.  Despite that 90 percent number quoted above, our own recent Templeton study found less than 5 percent of accounting firms have given state-of-the-art CRM systems a try.

Why is this?  From our experience in the field, one big reason stands out:  Despite its undeniable business-building advantages, until now CRM software has been designed largely as a free-standing technology - separate from the practice management functions of most accounting firms.  Thus executives have been (understandably) reticent to invest in what they see as yet another costly layer of IT complexity.

But what if CRM included all the necessary tools of Practice Management?

The question arises:  Why not a single solution?  One completely integrated system that seamlessly combines everything you need in Practice Management with everything you want for CRM.

That question is exactly what we asked ourselves at Templeton.  And recently we partnered with Microsoft to create a solution - a single comprehensive system for every aspect of practice management plus customer (client) relationship management.

First of all, we wanted it to be simple:  a single log-in system that's intuitive, easy to learn and operates on the same Outlook format we already know.  It had to be fully-integrated to handle time and billing... accounting and reporting... tracking and project management... personnel scheduling... a workflow engine... everything.

And something more:  We wanted built-in account management capabilities with a range of up-selling, cross-selling and opportunity management CRM features.

Here's a partial summary of our "must have" list for this integrated practice management/CRM system: ... View Full Article

In this tough economy, every dime counts!  In an effort to control expenses, companies are turning more towards Requisition Management systems.  A requisition system provides organizations with increased control and visibility over the entire purchasing process, and adds a formality to the process, reducing paper and streamlining approvals.  Equipped with Web-based requisition management capabilities, employees can enter purchase requisitions online for manager approval.  Requisitions are then automatically transferred to Purchase Order Processing saving time and ensuring accuracy.

Both Microsoft Dynamics GP and SL provide Web-based requisitioning systems, and here are the top 3 benefits of the system: ... View Full Article

 

Experience Business Intelligence First-Hand on Thursday, February 11 ... View Full Article

Organizations do not require process redesign from scratch, but rather, it is part of a continuous cycle.  Forward-thinking organizations grow and learn from past experiences and apply that knowledge to become more efficient and adaptive to their changing circumstances.

In today's competitive landscape, becoming more agile and profitable are key to survival, which is why many companies are aggressively streamlining business processes. A few areas these companies look to streamline include: ... View Full Article

Most CPA firms have yet to establish a social media policy, as they are likely considering the best approach to bring social media into the marketing mix.

Truth be told, there is no hard and fast rule on how companies should approach this. The accounting industry is no exception, and faces particular challenges in creating social media plans, such as whether to include client references, and giving tax or other consulting advice in a public forum and later being held responsible for it. ... View Full Article

Templeton Solutions and the QlikView team have joined to show companies how to make sense of their information by turning actionable insight into an increase to the bottom line. 

Register today to take advantage of this opportunity on Thursday, November 5, 2009 at 11 AM EST . to see what some forward-looking companies are doing to improve results and gain a competitive advantage. ... View Full Article

When speaking with a partner of a local law firm, he lamented about their database, "Just getting our holiday card list right requires a monumental effort!"  Many times sales leads in the database are kept long past their shelf life which means they no longer hold any revenue potential and should be jetissoned.

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In today's world of budget constraints, industry regulations and hyper-competitive markets, there is an ever growing demand for instant and accurate business intelligence (BI) to enable decision making at all levels in an organization. BI that is dynamic ... View Full Article

If you don't really know what CRM (Customer Relationship Management) stands for or what it does exactly, don't worry because you're not alone. In fact, take a look at this blog by high technology marketing expert John Ryan, Accountant's CRM Use Just Doesn't Add Up. You'll see that CPAs have been one of the last professional services fields to see the value of customer relationship management tools. ... View Full Article

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As a fellow marketer, I am engaged with many moving parts of the firm from overall strategic planning to the day-to-day execution needed to reach those goals.  Have you ever needed to start out from square one with outdated or incomplete databases every time you are about to execute a new campaign?  Do your Partners and Business Development team have sufficient information prior to meeting with prospects and/or delivering proposals? Please know this: you are not alone! ... View Full Article