Liz Scott on Tech Selection: Empowering Accountants as Tech Advisors

In this episode of Canopy's Practice Success podcast, Liz Scott discusses the critical aspects of technology in accounting. She draws an analogy between selecting tech apps and shopping for shoes to emphasize the need for careful selection to ensure they meet the firm's needs. The conversation covers the evolving role of accountants as technology advisors and the significance of managing a tech stack effectively. Liz advocates for a thoughtful approach to technology, highlighting its impact on the efficiency and growth of accounting firms and their ability to serve clients effectively.

3 Main Ideas

1. Evaluating Technology Needs for Accounting Firms: Liz Scott emphasizes the importance of accounting firms carefully evaluating their technology needs to ensure they choose the right apps and tools. She compares technology apps to shopping for shoes, suggesting that just as one would select shoes that fit well, firms should select technology that fits their specific needs and workflow to avoid inefficiency and wasted resources.

2. The Changing Role of Accounting Professionals as Tech Advisors: The podcast discusses how the role of accounting professionals is evolving to include being tech advisors. This shift means that accountants are now expected to recommend technology solutions to their clients, suggesting a move towards providing more value-added services beyond traditional accounting tasks.

3. The Concept of a Tech Stack and Its Management: The importance of managing a firm's tech stack is highlighted, including the need for firms to regularly review and assess their technology tools to ensure they are still meeting the firm's needs. This involves considering not just the number of apps but their interoperability and how they fit into the firm's overall workflow and client service strategy.

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