Long gone are the days of handwritten accounting journals and paper tax returns. The accounting profession, which had not changed for many decades, today is facing the technological challenges that come with data automation, blockchain
Dalia Cantor, CPA, CVA, the founder of CPA Solutions in Orlando, has seen this shift firsthand. After working in accounting in the public and private sectors for nearly 10 years, she started her own practice in 2008.
“I went totally paperless, which raised an eyebrow with many clients,” she said. “Five years later, I transitioned my firm to the cloud and thought I was ahead of the game. Perhaps I was at that time, but
It can be unsettling to know that your own service is going to be obsolete if it’s not transformed to meet the needs of clients who are used to the modern conveniences of technology, Cantor said. She suggests being open to these innovations.
“All small and medium-sized CPA firms nationwide should perform a SWOT analysis and re-evaluate where they are,” she said. “Status quo will not work.” Through
What is CPA Solutions doing about this disruptive change to the profession? The firm is spending significantly more time on advisory services, such as reviewing clients’ internal systems and procedures, recommending IT systems, handling tax planning, and consulting about business development plans. Rather than wait for a paradigm shift, the firm is energized to adapt to changing technology and improve services in real time.
“I am in the middle of the baby boomer and millennial generations,” Cantor said. “They call that Generation X. We grew up with strong IT skills. However, I will need to reinvent myself, learn new skills and stay on top of New World technology in order to stay competitive. I accept the challenge — you are either growing or you’re dying.”
After coming to the United States from Lithuania in 1997, Cantor was quick to embrace the spirit of opportunity she saw here, carrying that with her as she built her own company. “It took a lot of hard work and determination to get to where I am today,” she said. “My willpower and competitiveness continue to be staples of my character, even outside my work.”