Conducted by research and consulting firm Muzeview, the study found that few of the Web sites of the Top 50 accounting firms employ Web technologies, which are relatively easy and inexpensive to deploy and are becoming more critical in capturing the attention of clients, prospects and potential recruits.

"Professional services is a relationship business, but the way those relationships form and develop has changed," said Paul Gladen, president of Muzeview. "While in-person, social interaction will always be important, the day-to-day dealings between a firm and its clients, prospects and potential recruits are increasingly occurring online."

Specifically, the study found:

• Only three firms provide RSS feeds for any of their Web site content (only one outside the Big Four)
• Only four firms have podcasts (only one outside the Big Four)
• No firm has ventured to start a blog (At least one Top 50 firm partner writes a blog relating to professional issues but the blog is maintained separately from the firm's Web site)
• Eleven firms offer some form of video content in the form of Webcasts, Web seminars or video clip

Lack of Web sophistication affects the development of business relationships in a number of ways, according to the report. For instance, podcasts and RSS feeds give clients and prospects greater control over where and when they can consume information, which heightens the odds they will pay attention to it. Additionally, audio and video Web technologies have higher engagement potential compared to text, while interactive technologies, such as blogs, provide an opportunity to exchange and discuss ideas with current and prospective clients - both demonstrating professional expertise and learning about client issues.

These technologies also improve the chances that the media will pick up newsworthy information as well as give firms a way to breathe "new life" into their text-based thought leadership, increasing its value and improving return on investment. Collectively, these benefits can enhance the overall perception of the firm as tech-savvy and forward thinking.

See also: Steps for Embracing New Web Technologies