Web 2.0 and CPAs

Of all the listed articles, I found the BBJ piece, A new way to network: MySpace, Facebook aren't just for teens anymore, the most comprehensive and useful. That's because it highlighted a variety of businesspeople who have found uses for Web 2.0 features.

The article spells out one overriding rationale for businesses to adopt social networking applications: everyone else is doing it. As it became de rigeur for a company to establish a Web site, however lean, in the 1990s, so it will be essential to have some kind of presence, or at least capability in the Web 2.0 universe in the coming years.

CPAs, like any other kind of professional services business, is predicated on interpersonal contacts and networking sites expand the scope and opportunities considerably. I am not familiar with LinkedIn, but according to the article the application seems more focused on business culture and could provide a means for both obtaining referrals and client contact.

The essence of the new services is "they offer an evolved form of marketing compared with the one-way communication of traditional advertising, marketing executives said. The collaboration among the online communities enables customers to talk back to companies, giving a better idea of what they want and what they like. " Given the crush of client work and the need for CPAs to be both accessible and manage their time more than ever before, this communications short-cut could be a lifesaver.

I think for most firms networking sites will fit their business model; possibly less so for business and industry CPAs. Certainly for larger firms the sites can help manage a large and diverse population; while for smaller firms it enables them to provide the personalized service that is their forte.

The article did not address another significant benefit of networking sites: improved personal and informational access within an organization. For meetings, committees, brainstorming and even research, these sites can enhance collaborative efforts throughout an organization.