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How a well-built tech stack helped an accounting firm become more profitable

It’s fair to say that Paul Fiumara, partner at Brisbane based firm, DFK Hirn Newey, is a big fan of technology. He’s been offering computerised accounting services for almost 40 years, although things looked quite different back in 1982.

“We had a computer bureau service where we did a lot of computer work for clients,” he says. “We did things like payroll processing, debtors, creditors, and general ledgers at a time when they didn’t actually have a computer.”

With the modern accounting market, Paul has found the role of accountant has come full circle. As advisory services become more important to clients, firms are returning to the role of bookkeeper and doing outsourced processing work.

Since the advent of cloud accounting software, the single ledger, and comprehensive app integrations, it’s now practical and profitable for practices to offer a full suite of services to their clients from bookkeeping and processing, to compliance and in-depth business advisory services.

Read more about DFK Hirn Newey’s journey with cloud accounting and their tech stack here: https://www.xero.com/content/dam/xero/pdf/enterprise-dfk-case-study.pdf

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