Smart Ways to Streamline Your Accounting Firm

Strategy and the Virtual Controller

Are your accounting firm's processes truly optimized, or are you considering automation as a quick fix to deeper workflow issues?

In this episode, hosts Damien Greathead and Penny Breslin are joined by Korey Cournoyer to explore the world of automation within accounting firms. They discuss the importance of process documentation, the benefits of strategic automation, and how to approach implementation effectively. The conversation highlights the need for standardization, efficient workflows, and proper utilization of technology to ensure success. Korey emphasizes the significance of understanding why automation is needed and addressing those issues internally before implementation.

Korey is the CEO of STRMS.io, which works within the accounting and finance industry to help firms document, optimize, and automate their workflows and processes. He is not building another app for firms to deploy but is helping build custom automations that help firms scale by connecting their existing apps across their existing workflows. His company supports firms looking to scale without exponentially increasing headcount or costs. Before co-founding STRMS, Korey helped grow and scale an accounting firm, GrowthLab Financial, for over nine years.

[00:00 - 14:45] Intro and The Importance of Process Documentation

• Damien, Penny, and Korey discuss the critical role of process documentation in successful automation.
• Understand the need for standardization before implementing automation solutions.
• Korey explains his company's approach to helping firms identify automation opportunities.
• Clear process mapping is crucial for effective automation implementation.

[14:46 - 27:14] Benefits of Automation

• Automation can improve efficiency, reduce errors, and enhance client experiences.
• Emphasize the importance of transparency with employees about automation goals.
• Identify areas where automation can positively impact employee satisfaction and retention.
• Korey shares insights on focusing on high-value, repetitive tasks for automation.

[27:15 - 35:35] Practical Applications and Implementation Strategies

• They discuss specific areas where automation can be particularly effective, such as client onboarding.
• Utilize automation to streamline internal processes like reporting and communication.
• Korey explains the subscription model approach to make automation services more accessible.
• The group discusses the potential cost-effectiveness of automation compared to traditional solutions.

[35:36 - 44:06] Long-term Benefits and Final Thoughts

• Penny and Damien reflect on how automation can free up mental space for firm owners and employees.
• Regularly review and update processes to maintain efficiency and effectiveness.
• The value of combining process improvement, outsourcing, and automation strategies.
• Invest in automation as a long-term solution for firm growth and employee satisfaction.

Direct Quotes

"Before we even start development or anything, we'll spend a few hours with firms and like help them map and document and understand like what automations are going to be realistic." – Korey Cournoyer

"I think standardization is the first step to becoming flexible." - Penny Breslin

Connect with Korey

Website: http://strms.io/

Company Linkedin: https://www.linkedin.com/company/strms-automations

Personal Linkedin: https://www.linkedin.com/in/koreycournoyer/

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Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57