The Boomer Formula

Accounting Technology, March, 2007

In some ways, Gary Boomer defined the process for determining what accounting firms should spend on technology and how they should pay for it.

More than 15 years ago, Boomer made a name for himself talking about what successful firms were spending as a percentage of the budget, what the less successful were spending, and what items should go into the budget. He also pioneered the idea of adding a technology surcharge to clients' bills so that the firm didn't have to eat all the costs of buying technology.

Even though firms have so much more technology firepower available to them, the level of spending hasn't change that much through the years. Including training, technology spending at the best firms run about 7 percent of total spending. Taking out the training...

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