iPad - Tool or Toy?

Okay, I thought I would weigh in on the heavily debated question of where does the iPad fit into the arsenal tools for the CPA? This battle between the believers and non-believers will be waged until full enterprise solutions like the tax and engagement software are available for the Ipad and Iphone.

My perspective is a little different than most CPAs, since I also happen to be a software designer who is constantly looking for ways to improve the user experience of XCM.

Most people weighing in on this question focus on the content-related benefits of the iPad. I believe easy access to the Web and the vast amount of content that this forum brings to the CPA is worth the cost of the iPad itself - the accessibility of resources like AccountingToday.com for example.

Don’t get me wrong - being able to flip open the cover of the iPad and have it online is a huge advantage if you're a PC user and have to wait the intolerable 3 to 5 minutes of machine boot up time just to be able to access the Internet. That seems silly now.

Most people who use iPads would probably agree that the iPad was not made for and does not work very well with data intensive applications such as Excel or other spreadsheet solutions. It’s actually very difficult to manipulate data within a spreadsheet because of the size of the screen. And of course there are currently no tax and engagement packages in the App marketplace at this time.

What I find most interesting are the Apps that help keep things moving, whether it’s in your personal or business life. Being able to pay bills, look at bank information, or enter time in practice management, access the status of work or move a task (currently in development) - all within an App from your iPhone/iPad is an enormous advantage to people on the move, as opposed to waiting to get home and fire up the old PC.  It’s the convenience of the device that is of most benefit to those that use it.

So, do I think the iPad is a paper weight? No, I do not. Do I think people can throw away their laptops and use the iPad solely to get work done? That’s not realistic either. But where I think the iPad fits is just another tool in your bag that can be used to make your life easier and help you stay better informed. It also takes a little bit of stress out of your life with instant access to some, and I say some, of the applications we use to perform our work.

The delay reflex

How often are you in a management, project, or even a client meeting when everyone appears sold on an idea, but still the the result is "Let's wait..."? Sometimes it's more like, "Let's wait until..." some better set of circumstances present themselves. I'll admit, sometimes waiting is beneficial - it allows you to gather more information, explore other alternatives, or even better evaluate your needs. It definitely serves a purpose in the exloratory part of a project or decision. But, once the decision is made and everyone has weighed in, just what are you waiting for?

It could be that the person who suggested delaying is not sold, but feels that s/he doesn't have a strong enough argument against the decision. In that case, waiting is simply a means to avoid confronting the issue, and is not constructive. There may be other valid reasons that a project should be delayed - not the least of which is lack of resources at that time. However, an equally important consideration is the opportunity cost associated with delaying executing on your decision. After all, there's a reason that you embarked on this project in the first place.  

We had commissioned a research project with the Bay Street Group in which we identified common attitudes and behaviors among high performing firms summarized in a white paper, "Seven Habits of Highly Successful Firms." One of the things that high performing firms understood well was that there is an opportunity cost to delaying - in this case, technology adoption. But the same holds true no matter what the decision pertains to.

Consider this familiar scenario. You're sure that a certain investment strategy will help your client earn an eight percent return. They trust your judgment which is why they sought out your counsel. Though they like the idea, they need time to sit with it for a while, and put off moving forward on that advice. When they leave your office, you're scratching your head because they don't seem to grasp that the sooner they move forward the faster their investment starts yielding results.

You can see it when your clients display the "delay reflex." Is it as easy to recognize when it's a colleague or even yourself? We've been conditioned to always factor in the ROI of any project, but we must also calculate the opportunity cost - those are just as real…time, money, retention, competitive advantage, profitability.