Firm of the Future Spotlight on Large Firms: Measured Results
Welcome to the next in a series about firms that are benefitting from the cloud to better serve clients and find new revenue opportunities. In this new article, we spotlight Tyler McBroom of Measured Results, a firm based in Ripon, Calif. Learn more about Tyler and his firm in this video and in the interview below.
Mindy King: Welcome Tyler! Tell us a little bit about you and Measured Results.
Tyler McBroom: Our mission at Measured Results is to help our clients pay as little tax as legally possible, with a big emphasis on staying out of trouble. The firm was founded by my father, Byron McBroom, in 2004, and now we run the firm together. We work with business owners to help them slash their tax bill and get their books on auto-pilot so they can focus on growing their businesses. Our "7 Step Tax Solution" saves our new clients anywhere from $15,000-$100,000 or more through a series of easy-to-implement tax savings strategies, such as forming an S corporation or hiring your children in the business.
MK: What prompted your firm to switch to QuickBooks® Online (QBO)? What has surprised you the most about QBO’s capabilities?
TM: Toward the end of 2016, we reviewed what’s next for our industry. We saw that everything was moving to the cloud and that public accounting was, and is, changing drastically with technology. One seminar we attended mentioned that web-based accounting programs such as QBO resulted in as much as a 40 percent increase in efficiency for teams who had implemented them successfully. We knew it was definitely something we wanted to try – and it was true for us. With no changes to staff, our team’s 2017 tax season revenue increased 50 percent from the prior season.
What has surprised us the most, other than the increased efficiency, has been how little pushback we’ve received from clients. Most of them are happy to make the transition when we bring it up and have been very happy with the switch.
MK: For your firm, what have been the biggest benefits and/or timesavers that you’ve seen after having switched to QuickBooks Online?
TM: No more accountant’s copies! Coming to tax time and not needing to take the time to download an accountant’s copy file, open it up and hope the client imported last year’s changes has been huge for us. With everything being in one copy in the cloud, adjustments are automatically in the clients’ books. On top of that, it improves our service because with one mouse-click I can be in a client’s books when they call, and we’re simultaneously looking at the same set of books. It helps us provide better advice on the fly.
MK: For your clients, what have been the biggest benefits and/or timesavers? What do they like most about being in the cloud, in comparison to their previous desktop experience?
TM: Clients really enjoy being able to snap pictures of receipts from their phone and have them automatically added as a transaction in the books. As I mentioned above, the ability for clients and our team to look at the same set of books when calling for tax planning or other questions is a major benefit and enhances the advice clients receive. And, for the clients who do their own books, the ability to easily set up bank feeds has been a positive feature as well.
MK: How did you or your team get buy-in from key stakeholders at your firm to make a switch to QBO?
TM: We have a relatively young (and young-at-heart) team, and they are very willing to try new things. Once we had the first few monthly clients on QBO and saw the increased efficiency and time saving in bouncing between clients, it became a no-brainer and we had instant buy-in.
MK: How did your firm get agreement from your desktop clients to move to cloud? If those clients voiced any concerns, how did you address them?
TM: We simply explained the benefits mentioned above, especially the receipt scanning abilities, and didn’t receive much push back at all. For those few clients who have said they want to stay on desktop, we let them know we will have to increase their fees because of loss in efficiency in desktop vs. QBO.
MK: I understand you also use Intuit® ProConnect™ Lacerte®. What other some other ways your tax practice and clients benefit by working in the cloud?
TM: One of the major perks of being in the cloud is that members of our team can be anywhere and not lose productivity. We have team members in multiple locations in the states and across the globe, and having our server and other programs on the cloud allows us to operate as one office, no matter where we are, without tedious screen-share programs or some other workaround.
This allows us to serve our clients better. For example, if a client has an urgent matter, I have full secure access to all of their information from my laptop and phone, no matter where I am.
It’s also simply convenient. As our firm has grown over the last year or two, we have needed to purchase new computers and other hardware for our team members. Being on the cloud makes that setup much easier because you only have to worry about setting up a couple logins, rather than downloading a potpourri of programs. Less time in setup leads to quicker time into production.
MK: What apps does your firm use to extend the power of QBO?
TM: We are always researching new apps to use. We are currently looking into integrating our CRM Infusionsoft with QBO so it will show client balances in real-time when we look up their phone number.
MK: What piece of advice would you offer to other accountants or firms hesitant to move to the cloud?
TM: Take the leap! Start with a few clients and get their feedback on how they like it. It won’t take long to realize the efficiency increase, and probably improve your service with them. Then, as you meet with other clients to deliver other projects, always ask if they are interested in QBO. For some clients, it may take a few asks, but almost all of our clients have made the switch, and overall, it’s been a very positive change.
MK: Thanks Tyler!