Now, you may be wondering: How bad can it really be? Let’s unpack the impact of downtime on your firm.
The Cost of Downtime
Lost Billable Hours
We know how important your time is. But when systems are down, you’re unable to access client files, tax software, and other critical tools needed to complete your clients’ work.
And when you stand to lose $427 per minute of downtime, the stakes get even higher.
Delayed Client Work and Missed Deadlines
Deadlines are stressful as is, especially when it comes to tax season and financial reporting. But when your systems are down with no fix in sight, that can cause delays in completing client work – which can lead to missed deadlines, frustrated clients, and a damaged reputation.
Data Loss and Rework
How frustrating is it when you wait for what feels like hours for a file to save? What about when you look for that file and discover it’s not there? That’s a common theme for accounting firms whose servers are unreliable. And, depending on the cause of downtime, you may have to restart your work from scratch.
There’s a lot at stake when it comes to downtime. But the good news? It doesn’t have to be this way. Below, we’ve broken down ways you can reduce downtime and fire up your productivity.
How to Reduce Downtime and Boost Productivity
Invest in Reliable Hardware and Software
Many accounting firms rely on legacy hardware and software that are years, sometimes decades, old. Equip your team with the proper computers, laptops, and other devices every 3-5 years so they can continue to complete their work and improve their performance.
At JMARK, our clients are equipped with a five-year technology plan built within their overarching business strategy. Because having the right IT is a strategic investment. This means you can spend less time worrying about expensive repairs or surprise purchases and more time working at your best.
Implement Data Backup and Recovery Solutions
No one wants to spend hours working on a project, only to lose it in a matter of minutes. That said, implementing proper backup and disaster recovery plans is still an opportunity many firms are missing out on. All it takes is one wrong click.
The rate at which you should back up your data can vary. While many suggest daily backups, more frequent backups can be necessary depending on several factors:
- How critical the data is
- How often the data changes
- How much data loss the business can tolerate
- The type of backup being performed
Ultimately, your backup frequency should align with your firm’s Recovery Point Objective (RPO)—or how much data loss can be tolerated in the event of an incident.
Use Secure Client Portals
Communication plays a large role in any business, but it can easily become compromised if the right policies aren’t in place. The first step is setting up a secure client portal so you can safely exchange data and documents with your clients.
Here are some best practices to keep in mind during setup:
- Require multi-factor authentication (MFA) for all users
- Ensure compliance with relevant industry standards and regulations
- Choose a portal system with encrypted data transmission and storage
- Set up alerts for suspicious activities and regularly review security logs
- Provide easy access to important documents, forms, and resources
- Deactivate accounts for inactive users or portals no longer in use
If you need guidance or don’t have the time to manage a portal like this yourself, consider partnering with a managed services provider like JMARK to handle your technical needs so you can focus on serving your clients.
Optimize Network Infrastructure
If you want to continue scaling your firm, then your network infrastructure needs to be top-notch. Neglecting this can result in slow response times across applications, difficulty accessing files, and frequent network outages. Which all come at a cost.
If you’re wondering what creating a strong network infrastructure looks like, consider these steps:
1. Design a scalable network architecture
• Plan for future growth and increased demand
• Use modular designs that allow for easy expansion
2. Choose appropriate hardware
• Invest in high-quality, enterprise-grade networking equipment
• Ensure routers, switches, and access points can handle your current and future needs
• Consider power-efficient hardware to reduce energy costs
3. Implement proper cabling
• Use high-quality, appropriate category cables (e.g., Cat6a or fiber optic)
• Properly label and organize cables for easy maintenance
4. Implement network management systems
• Use centralized management tools for configuration, monitoring, and troubleshooting
• Set up automated alerts for network issues
• Implement remote management capabilities
5. Implement network redundancy
• Use redundant power supplies for critical network devices
• Add redundancy access for multiple employees to avoid single points of failure
6. Set up proper cooling and power management
• Invest in high-quality, enterprise-grade networking equipment
• Ensure routers, switches, and access points can handle your current and future needs
• Consider power-efficient hardware to reduce energy costs
7. Implement proper backup and disaster recovery
• Regularly backup network device configurations
• Aim to back up data at least every 24 hours
• Test backups weekly to verify reliability
• Have spare hardware available for quick replacement
• Develop and test a disaster recovery plan
Whew, that was a lot. Basically, your network infrastructure serves as the foundation for the rest of your firm’s operations. Once you get that in order, you, your partners, and clients will have a much better experience.
If want to speak with someone who can turn technology speak into a language you can follow, one of our IT experts is happy to translate.
Provide Regular Staff Training
The best way to prevent downtime is to equip your team with the right knowledge and resources. Regular staff training on topics like how to spot phishing emails, ways to protect your firm while you’re out of the office, and how to use AI tools safely can make a huge difference.
Conduct Consistent IT Assessments
Just like your annual health check-up, consistently reviewing your IT’s performance will help you understand what you’re doing well, and address any bottlenecks that may become apparent.
Here’s a checklist of what you need to conduct an effective IT assessment:
IT Assessment Checklist
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Define objectives and scope
Clearly outline the goals of the assessment and what areas of IT infrastructure and operations will be evaluated.
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Gather information
Conduct a thorough inventory and audit of existing IT systems, hardware, software, networks, and processes.
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Analyze current state
Evaluate the effectiveness, efficiency, and security of existing IT resources and identify strengths and weaknesses.
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Identify gaps and opportunities
Compare the current state to best practices and business goals to find areas for improvement.
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Assess risks
Identify potential security vulnerabilities and compliance issues.
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Review alignment with business goals
Evaluate how well the IT environment supports overall organizational objectives.
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Document findings
Compile a comprehensive report detailing the assessment results, analysis, and recommendations.
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Create a roadmap
Develop a plan for implementing recommended changes, including timelines and resource requirements.
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Involve key stakeholders
Engage IT staff, business leaders, and end-users throughout the assessment process to gain valuable insights.
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Consider external expertise
For objectivity and specialized knowledge, consider hiring an external IT assessment provider.
Summary
If you want to spend less time being your firm’s designated “IT person” or staring at loading screens, consider implementing these 6 best practices:
- Invest in reliable hardware and software
- Implement data backup and recovery solutions
- Use secure client portals
- Optimize your network infrastructure
- Provide regular staff training
- Conduct consistent IT assessments
Not sure where to start? Speak to one of our IT experts and see why 130+ CEOs, partners, and business leaders have chosen JMARK to help them level up their IT and focus on providing the best services to their clients.