As the world grappled with the unprecedented challenges brought on by the COVID-19 pandemic, businesses across the globe were forced to adapt to a new reality of remote work. Amid this upheaval, one industry found itself well-positioned to embrace the change: accounting. The profession, which had been gradually moving towards digitalization in recent years, suddenly found itself at the forefront of a rapid and widespread adoption of remote services.
Among the firms navigating this transformation was kept.pro, a US-based accounting and bookkeeping firm that was founded in July 2020, just a few months after the pandemic had taken hold. Despite the challenging circumstances surrounding its inception, kept.pro quickly established itself as a reliable provider of fractional accounting services, catering to privately held businesses with annual operating budgets between $2M and $30M.
The concept of fractional accounting team, which involves providing outsourced, on-demand financial services by a team of certified professionals, had been gaining traction in the years leading up to the pandemic. But as businesses struggled to maintain financial stability in the face of unprecedented uncertainty, the benefits of this model became more apparent than ever.
For many companies, the idea of maintaining a full-time, in-house accounting team had become increasingly challenging, if not impossible. With revenue streams drying up and expenses mounting, businesses needed a more flexible and cost-effective solution. Fractional accounting teams, like those provided by kept.pro, delivered just that, rendering expert financial guidance on an as-needed basis without the overhead of a full-time staff.
But the advantages of kept.pro’s model extended beyond just cost savings. By leveraging a distributed workforce, the firm was able to tap into a wider pool of talent, hiring skilled accountants regardless of their physical location. This not only ensured a higher caliber of service for clients but also allowed for greater resilience in the face of disruption.
Of course, the shift to remote work brought with it a host of evolving challenges, particularly in the realm of data security. Devices and digital and distributed financial workflows introduced new security risks. For kept.pro, addressing these concerns was a top priority from day one.
The firm invests heavily in cybersecurity tools and training, to mitigate the growing threats in this arena. This includes, for example, going beyond the criminal background checks typical of the financial services industry, to verify education and employment histories of all employees.
But security was just one piece of the puzzle. To truly thrive in a remote environment, kept.pro also needed to foster collaboration, communication, and accountability among its distributed team. This required adoption of a current suite of software suitable for remote and distributed teams, including productivity, ticketing, communication, time accounting, security and accounting tools.
It also demanded a new approach to company culture. With team members spread out across multiple time zones and locations, kept.pro had to work extra hard to create a sense of unity and shared purpose. Regular virtual team-building events, ongoing training and development programs, periodic in-person “off-sites”, and a strong emphasis on transparency and communication all help to keep the team engaged and aligned.
As the pandemic wore on, the value of kept.pro’s remote-first approach became increasingly clear. While many traditional accounting firms struggled to adapt to the new normal, kept.pro was able to seamlessly continue serving its clients without missing a beat. The firm’s ability to provide uninterrupted, high-quality service in the face of such unprecedented disruption was a testament to the strength and resilience of its model.
Looking ahead, it’s clear that the trend towards remote accounting services is only going to accelerate. As more and more companies embrace the benefits of distributing fractional accounting teams, firms like kept.pro that have already mastered the art of remote financial management will be well-positioned to lead the way.
But success in this new landscape will require more than just technical expertise. It will demand a deep understanding of the unique challenges and opportunities presented by remote work, as well as a willingness to continually adapt and innovate in the face of change.
For kept.pro, that means doubling down on the strategies that have brought the company this far investing in top talent, prioritizing security and compliance, fostering a strong company culture, and always putting the needs of clients first. With these principles as its guide, the firm is poised to continue its growth and success in the years to come.
Ultimately, the story of kept.pro is not just the story of a startup overcoming the challenges of a pandemic. It is a story of the transformative power of innovation and the ability of visionary leaders to turn crises into opportunities. As the business world continues to evolve rapidly, it is companies like kept.pro that will maintain the technological edge and moat, pointing the way forward for an industry and a world undergoing profound change.
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