What keeps us from buying tech?
Fear of the unknown. Concern over how much it will cost. It’s trepidation fueled by uncertainty…and instead of taking a chance on a new product, we stall.
In this episode of The Modern Firm® Podcast, we’re exploring the reasons why accounting professionals feel fear, uncertainty and concern about making large purchasing decisions.
Whether you’re a tech-savvy accountant or simply interested in the psychology behind tech purchases, this episode provides valuable insights to help you make informed decisions about what you’re buying—and why you’re buying it.
Watch the full episode on YouTube or Vimeo.
Episode highlights
- 🧩 Understand decision-making: Recognizing the factors that influence tech purchase decisions can help firm owners make informed choices that align with their goals. This understanding is vital for overcoming resistance to change.
- 💬 Cultural resistance: Many firm leaders fear losing control over established processes. This aversion can stifle innovation, making it essential to address these concerns head-on to foster a culture of adaptability.
- 📈 Cost-benefit analysis: Partners must evaluate the ROI of tech investments. If firms cannot see a clear benefit within a year, approval for new technology may be stalled, impacting overall growth.
- ⚠️ Managing risk: Understanding that risk is inherent in tech purchases can help firms approach decisions more strategically. Implementing pilot programs can alleviate fears and demonstrate potential benefits.
- 🛡️ Regulatory awareness: With increasing regulations like the WISP, firms must prioritize compliance when selecting new technologies. This is critical to avoid penalties and ensure operational integrity.
- 🤝 Peer recommendations: Engaging with peers who have successfully adopted new technologies can build confidence in purchasing decisions. Learning from others’ experiences can provide valuable insights.
- 🌐 Turnkey solutions: Firms benefit from finding comprehensive technology solutions that address their specific needs. Employing a trusted partner can alleviate concerns about security and stability, allowing firms to focus on serving clients.
About The Modern Firm® podcast
This episode of The Modern Firm Podcast was brought to you by Rightworks. It was moderated and led by Dr. Kristy Short, Senior Director of Content Strategy at Rightworks, with Director of Firm Technology Strategy Roman Kepczyk as the guest.
For more episodes, recaps, and resources, visit rightworks.com/resources/podcasts.