IPA Vendor Spotlight On . . . Steve Templeton

Name: Steve Templeton

Companies: Templeton Solutions LLC and Templeton & Company, LLP

Title: Founder and CEO

Accomplishments:

Steve Templeton

Steve Templeton

  • Created industry’s first unitized practice management system to enable firms to manage their business from a single data source.
  • Templeton Solutions named a Top 100 VAR (Value-Added Reseller) for the past two years.
  • Named a “Power Leader” by the South Florida Business Journal for the past six years.
  • Templeton & Company named a Top 300 Accounting Firm by INSIDE Public Accounting for the past four years.

How has the accounting industry changed with the rapid rise in M&A activity?

So much has changed in the industry since I started my career over 40 years ago. The opportunity for firms to expand their client base, lure better talent and grow profits has never been bigger. Whether you are looking to acquire, looking to be acquired or thinking about a succession plan, M&A is on every firm’s strategy roadmap, regardless of size.

You know what hasn’t changed? The technologies most firms are using to manage their practice. Many of the well-known legacy systems are outdated, stale and incompatible with each other. As more companies look to consolidate, the challenge of integrating disparate solutions becomes glaring, driving up costs and creating inefficiencies. CPA firms are longing for the agility and ease of a practice management system that is already unitized, and that doesn’t require all the complex, error-prone integrations. The rapid rise in M&A activity as well as the need to efficiently manage their practice is causing firms to rethink their growth strategies and educate themselves on the new generation of practice management technologies coming to market.

What’s the biggest opportunity for CPA firms that PracticePro 365 can help with?

Two of the biggest challenges facing accounting firms are lack of visibility across their business operations and lack of timely insights. The most common complaint we hear from managing partners and founders operating in this new business landscape is, “I feel like I’m operating in the dark.”

PracticePro 365 consolidates their data, giving them a holistic view of their business – a single source of truth they can leverage to identify changes in revenue and productivity and make smart business decisions, at any given moment. The result is the ability to manage a fully unified firm, ultimately serving their clients better and unleashing more profit.

What need were you trying to fill in the accounting industry with PracticePro 365?

First, PracticePro 365 was developed for our firm.  As we developed functionality on the Microsoft Dynamics platform, it became clear that a client-centric system was the best way to gain incredible insights and efficiencies while enabling a holistic view of client service and relationships. Those instincts were spot on. While other large vendors boast of “integration-ready” practice management systems, our system is unitized on a common platform, so no integration is required. Delivered from the cloud, it is subscription-based, so there is no need to pay for or manage servers or a separate hosting provider. This is unprecedented in the market today.

Thoughts on the future?

We will all continue to face business headwinds, which is why we built PracticePro 365 in the cloud from day one. Scalability, flexibility and uncommon insights are, and continue to be, a priority for us. Our clients need to be able to adapt quickly, to not only survive the constant changing landscape we do business in, but to thrive in it.

To learn more about PracticePro 365, visit www.practicepro365.com.

Trackbacks

  1. […] Founder of Templeton Solutions, was featured in Inside Public Accounting’s Vendor Spotlight. Click here to read the […]