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Why Should Accounting Firms Consider Managed IT Services?

By March 8, 2024No Comments

In the fast-paced world of accounting and financial management, staying ahead of technology trends and security threats is crucial for success. For accounting firms and CPAs in Oklahoma City, the landscape of managing data, ensuring security, and optimizing operations is becoming increasingly complex. Amid these challenges, there’s a solution that stands out for its ability to streamline operations, safeguard client data, and enhance efficiency—managed IT services in Oklahoma City. This approach is not just a trend but a strategic asset that transforms how accounting professionals handle their workload, client interactions, and overall business growth.

Cutting Costs Efficiently

Managed IT services play a pivotal role in helping accounting firms and CPAs reduce operational expenses. By outsourcing IT needs, these businesses avoid the high costs associated with maintaining an in-house IT team, including salaries, training, and benefits. Managed IT providers ensure efficient allocation of financial resources by offering scalable solutions that adapt to the firm’s size and needs.

Compliance Without Complications

Accounting practices are increasingly navigating a complex landscape of reporting requirements, regulatory landscapes, and compliance mandates. The essence of maintaining stringent controls over data governance and privacy is paramount, not only for meeting government and industry standards but also for safeguarding the integrity of sensitive financial information.

Engaging with a managed service provider offers accounting professionals the robust support necessary to implement and uphold the critical infrastructure vital for ensuring full compliance. This partnership becomes crucial, particularly for accounting entities that serve clients across diverse states or engage in interstate business activities, where the mosaic of state-specific data privacy laws presents a unique challenge due to the absence of a uniform federal data privacy regulation.

The importance of expert consultation in navigating these regulatory waters cannot be overstated, ensuring that accounting practices remain compliant and well-protected against the complexities of state-by-state data handling requirements.

Budgeting Made Predictable

One of the most significant advantages of managed IT services is the predictability of costs. These services come with straightforward pricing models that eliminate unexpected expenses, allowing firms to budget more accurately. This clarity and predictability in IT spending empower firms to plan their finances better and allocate resources toward growth initiatives.

Driving Revenue Growth With Managed IT Services

Managed IT services contribute directly to the bottom line. With IT experts handling the technological side of the business, accounting professionals can focus on what they do best—serving their clients and expanding their portfolios. This shift in focus leads to improved client satisfaction and loyalty, which in turn drives revenue growth.

Access Expertise on Demand

The complexity of today’s IT landscape requires a wide range of expertise that most accounting firms cannot maintain in-house. Managed IT services offer access to a team of experts with specialized knowledge in various areas, including cybersecurity, cloud computing, and data management. This on-demand access ensures that firms can quickly adapt to new technologies and overcome technical challenges.

Support Around the Clock

In the world of accounting, issues can arise at any time, and downtime can have significant financial implications. Managed IT services provide 24/7 availability, ensuring that any problems are addressed promptly, minimizing downtime, and keeping the firm’s operations running smoothly.

Strengthening Cyber Security

The finance and accounting sectors are prime targets for cybercriminals, given the wealth of confidential client information they manage. The threat landscape has intensified, with a reported 300% surge in cyberattacks against accounting firms since the pandemic’s onset, highlighting the critical need for robust cybersecurity defenses.

This uptick in cyber threats has placed unprecedented pressure on accounting firms, with a significant portion reporting their inability to recover from such attacks, particularly ransomware, which could lead to catastrophic outcomes, including permanent closure. Findings from a 2022 survey involving over 1,200 small to medium-sized accounting and industry service firms revealed a stark reality: 75% of respondents acknowledged their incapacity to rebound from ransomware assaults.

By aligning with a managed IT service provider, accounting firms gain access to a treasure trove of cybersecurity expertise, advanced protective tools, and round-the-clock surveillance against potential cyber threats. In an era where remote work and cloud-based applications are becoming the norm, the challenge of managing cybersecurity is magnified. Collaborating with a specialized team significantly enhances cybersecurity defenses, ensuring secure operational environments for accounting practices by mitigating and preventing cyber threats.

Proactive Approach to IT Management

Managed IT services go beyond fixing problems as they arise. They offer proactive maintenance and management of IT infrastructure, ensuring that systems are always up to date, running efficiently, and aligned with the firm’s strategic goals. This proactive approach prevents issues before they occur, reducing the risk of downtime and improving overall productivity.

Ensure Flawless Cybersecurity with RACK59

At RACK59 Data Center, we understand the critical nature of cybersecurity for accounting firms. With the surge in cyber threats, particularly during these times when remote work and cloud-based solutions are on the rise, the importance of securing sensitive and confidential client data cannot be overstated.

As a provider of managed IT services in Oklahoma City, we offer unparalleled cybersecurity solutions. We equip accounting firms with sophisticated cybersecurity tools and ensure 24/7 monitoring for any suspicious activity. Our team of cybersecurity experts is dedicated to mitigating and preventing cyber threats, giving you the peace of mind that your firm and client data are protected.

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