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Iris OpenSpace - anyone using it?

Iris OpenSpace - anyone using it?

So I have been using Iris OpenSpace for a couple of weeks now and I have to say I am VERY impressed with it. My intention is to use it to approve all client documents going forwards and do away with hard copies (exception is abbreviated accounts until VT enable us to file direct to Co House - for now I find it easier to print out and get client to sign than use the pesky Co House online accounts filing process, but maybe that's just me!).

My question is can I use OpenSpace for all my client document approval needs? This would include the below. 

- Engagement letters

- SA 100

- CT 600

- Statutory accounts

Or does anyone think I still need to have hardcopy approval for any of these?

The Iris OpenSpace FAQ's state the below:

Is electronic approval legally binding?

Yes, we have developed e-Approval in IRIS OpenSpace to be fully compliant with the Electronic Communications Act

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03rd Feb 2013 13:54

Since the start

Hi - yes been using it since it came out for a number of clients but the e-approval function will mean I use it for all confidential stuff that needs approval.

Here's a recent thread that covers the topic in general.

At the moment you request approval from one person at a time and so if you had accounts where you needed several directors to agree, then you could set them each up as clients on OS then upload the accounts to each, requesting approval.  For a few years now we've acheived accounts, CT600 & Letter of Rep approval by covering them all in a directors' written resolution and so we only need this back signed to cover the lot.

You can actually achieve approval from a simple majority for such resolutions but I still insist each director should sign.

Longer term, Iris will enable multi-person approval, ie one upload with all client contacts being asked to approve electronically.

So we are using OS for approval of all the docs you quote, including Engagement letters.  I had a bit of a "discussion" with the ACCA a few years back when they insisted that, whilst we could get clients to approve other documents electronically, eg responding to an email with the TR IRMark, we would be expected to see a wet signature for Engagement letters.  I didn't agree then however, I'm sure even they would be OK with e-approval now.

 

 

Thanks (2)
By redman7
04th Feb 2013 21:02

thanks Paul

Thanks Paul,

Good to see you are using it so thoroughly. 

This product is going to improve efficiency significantly for me, glad I came across it :-)

Thanks (1)
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05th Feb 2013 10:46

approval solutions

For those who are yet to do anything on this side of things - there are other more rounded solutions out there that all integrate this nicely together -

Virtual cabinet is one of those that is very impressive and seems to be better linkeed together than most!

 

 

Thanks (0)
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By jm66
05th Feb 2013 10:52

We've been using it since it was launched.

Used the e-approval function the last couple of weeks for tax returns and it proved invaluable.  We will be investigating other ways of using OS itself and the e-approval option in the coming months.  The team like the integration with Iris itself and the simplicity of uploading documents.

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14th Feb 2013 11:19

Other alternatives

have a look at DocSafe.  It has a very good approval system

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14th Feb 2013 11:53

DocSafe

I too looked at DocSafe and it's a good well established product. 

When I looked at it however, the "Lite" version @ £25 pm didn't come with document authorisation, the main reason I wanted it, and so you had to go for the Pro version @ £50 pm for this facility.

Iris is still developing the bells & whistles but for the same space, and authorisation it's free (and it links to my Iris Database)

 

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