Need Tech? Call Your Accountant

… paying off. It’s certainly a growth area. Nearly half of respondents (45 percent) said revenue from tech-related activities and services is growing faster than the rest of the business, while another 43 percent said the pace comparatively is about the same.

It should be noted that the percentage of revenue that tech sales comprise of total sales for an accountancy or law firm is most likely much lower than that coming from core business streams. But the fast-paced rate is nonetheless notable, demonstrating the validity of this trend. Customers are pushing their local CPAs, attorneys and marketers to be up on the latest technology, while also looking to them for guidance about how they can best use technology to further their own business objectives. What might start as a recommendation for a particular cloud-based tax or financial application could later extend to the accountant assisting with the integration of that application with other tools and software within their customer’s environment.

Now, for reality. Being able to deliver on technical services that run outside such core competencies as filing court briefs or preparing complex tax returns is obviously not something done overnight — nor inexpensively. This can be especially tricky from a resources perspective for professional-services firms at the SMB size, which the CompTIA study is focused on. To be sure, many smaller professional-services organizations gain confidence with technology as they use it. Over time, a level of technical expertise with the tools of the trade develop within these organizations, and especially among specific members of staff. But to turn these skills into a business practice offered to customers requires much more formality, process and accountability. One place to begin: training. Four in 10 respondents said adding a tech practice to their existing business compelled them to retrain existing staff to handle these new areas. One-third decided to hire new employees dedicated to tech-related services. It’s most likely that many firms undertook a combination of both retraining and new hiring to meet demand. Another third sought the expertise of a third party to help the company reorient around a tech focus.

Third parties play an important role in this story too. Often, deciding to offer or recommend tech products and/or services to your clients entails working with a tech vendor of hardware, software or cloud-based solutions. Four in 10 respondents have formalized such partnerships in the last year, while 36 percent are considering doing so. By aligning with a vendor, professional-services firms gain access to some of the benefits and resources that vendor has in its partner program, which help the sales and marketing process, among other things.

Bottom line: Your new competitor – or partner – could look a lot different than your typical solution provider, MSP or telecom agent. It could be John, the accountant.

Carolyn April is senior director of industry analysis at CompTIA. She has served as an analyst and editor covering the IT channel at titles including Channel Insider and VARBusiness, and Redmond Magazine. She is a graduate of the Medill School of Journalism at Northwestern University in Evanston, Illinois, where she earned bachelors and master’s degrees in journalism.