Knowledge Concepts, Inc., founded in 1996, is the developer of the FirmWorks software application. FirmWorks software provides Client Relationship Management, Resource Management, Knowledge Management and Document Management functionality for accounting and professional services firms. FirmWorks links to legacy accounting time and billing applications, office automation software, and groupware tools that provides a “single view” information approach to professional data use. Knowledge Concepts, Inc. has taken different steps in the deployment of the FirmWorks© practice information application

First by linking to existing applications, users work with familiar applications that are “best-of-breed”. Knowledge Concepts' FirmWorks links with many of the tools accounting firms use from vendors such as CCH, Thomson Tax and Accounting, Microsoft, and IBM. Knowledge Concepts’ goal is to provide the highest quality information product , with capabilities unlike those of any other available solution.

FirmWorks is deployed, updated and supported via the Internet using a “Management Service Provider” approach. Planning and training are integral parts of the highly successful FirmWorks implementation process. Knowledge Concepts offers its products and services throughout the United States and internationally.

The economic conditions that we currently face offer both significant opportunities and challenges to accounting firms. On the opportunities side, clients and prospects need the CPA’s professional guidance to survive the downturn in the economy. On the challenges side, many clients will have difficulty paying for professional services and firms need to be prudent with their investment and use of firm resources.

To take advantage of these opportunities and address these challenges, firms have to do three things: provide a high-quality professional service to their clients, effectively market and sell services to existing and prospective clients, and manage the practice in a good-business fashion.

After consulting with close to 2,800 firms over the last 31 years, I have observed that firms attempt to accomplish this with very inadequate information, employing very inefficient methods. Most accounting firms have far less information about their clients than the local Dominos Pizza parlor has about its customers. Firms cannot take advantage of information they have and accountants do not have easy access to even the most basic of firm operating information.

Meeting client needs and demands, managing the practice, growing and obtaining new business are interrelated goals that cannot be accomplished in isolation. Meeting these goals requires an all-inclusive “total practice information” approach. To help accomplish these goals, our software solution, FirmWorks™ focuses on four key areas: Client Relationship Management, Service Management, Scheduling, and Sales and Marketing Support.

The primary focus of FirmWorks is to accumulate raw data from disparate sources and transform it into useable business intelligence.  FirmWorks leverages the firm’s existing technology by integrating with 3rd party applications, databases, and groupware solutions thus maximizing the firms overall technology investment.  The true power of FirmWorks is realized by all users throughout the firm, who enjoy a single point of access to useable business critical information specific to their own duties and departments.

A shortcoming of information systems in accounting firms is that most of them provide static information. Paper-based applications are certainly an example, but even computerized systems for proving client and operating information most often just present the data. The user cannot add to it, comment on it, or assign it to others for action. There is no workflow. FirmWorks provides a comprehensive tool for supplying and working with centrally located information, anywhere, anytime. The results: greatly enhance efficiency, improve client service, and increase firm profits.

Tom C. Davis, CPA

President - Knowledge Concepts, Inc.