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It can be a struggle to figure out the mechanics of scheduling regular meetings across time zones and to measure how engaged your employees are. Even maintaining regular communications to ensure all team members are kept abreast of important updates takes extra effort when people are working in different locales.

That's why it's essential to have efficient processes and useful technology, said Sarah Taylor, CPA, the nonprofit accounting services manager at Altruic Advisors, a virtual accounting firm focused on the not-for-profit sector. From her home base in New Jersey, she manages a team of 10, all of whom are working in different locations.

"We really do rely on our tools," Taylor said. "We have to push and stretch what we have available to us."