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Take your business digital

1 year ago · 4 min watch

Case study – Brenda Morris, CPA, CGMA

Background: Brenda Morris, CPA, CGMA, is a partner of CSuite Financial Partners, based in Manhattan Beach, California. It is an interim project firm that helps companies get ready for transactions or transformation and growth. It has about 35 partners.

Problem: Succeeding in a changing world
I work with a number of restaurant companies, which are really not digitally native. During the COVID-19 pandemic, these restaurants, which were built to give people an onsite experience, now had no opportunity to do that. Some were closed completely, except for takeout and delivery. They really had to step up their digital capability. They had to reconsider how to serve and attract customers and to provide a great experience for them.

Solution: Find new ways to stay competitive
Over the past decade, I’ve seen technology become a key initiative for many companies, but instead of implementing quickly they'll put it on a roadmap with a 6- or 12-month timeline. The pandemic forced them to change. My restaurant clients found ways to launch apps that they might have considered but not used in the past. They also joined with partners such as Uber Eats that were already digitally savvy and could help them continue to provide services. They found ways to market more dynamically and use social media and their loyalty programs to engage customers.

Why it works
Our firm has been successful for several reasons:

  • Even the most industrial type businesses are finding ways to use the internet, social media and online marketing tools. It's a competition, and if you don't keep up, then your competitors might, and they will outpace you when it comes to acquiring customers or when it comes to getting their brand more visibility, more awareness. One significant risk for almost all companies right now is failure to have some level of digital transformation as a part of their strategic plan.

  • When our firm is hired to help a client with a digital assessment, we look at several areas of the organization, not just technology. We look at marketing technology and product technology. We look at your customer interface and interactions. We examine how you accumulate data and how you use that for analytics to make decisions. Then we put together a plan that includes a roadmap to move forward in a thoughtful way to continue to enhance your business digitally. These tips are great for any company to follow when they're putting their own digital roadmap into place.

Visit www.aicpa.org/digitalforward for additional resources.

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