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Cut hours off onboarding with these 4 features

9th Aug 2023
Brought to you by
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Bright was created in 2021 when Thesaurus Software Ltd. and Relate Software Ltd. decided to join...
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Taking on a new client comes with its peaks and troughs – excitement and exhaustion, hope and hassle. Naturally, you’ll want to dive in and get the ball rolling as soon as you can, but it also means you’ll have a long list of tasks to get through. Professional clearance and AML checks, to proposals and letters of engagement – it can be enough to make even the most seasoned accountant feel overwhelmed. 

But before you press the panic button, rest assured that there are loads of ways you can cut hours off your onboarding process. How, exactly? Well, here are four ways your firm can work smarter, not harder, when it comes to onboarding.

1. Create proposals in minutes 

How long does it take to make a proposal? Your answer may be ‘as long a piece of string’. We’re all guilty of spending hours on our computers trying to design the perfect proposal to get clients over the line – making sure that the tone is professional and personalised, that the design is slick, and most importantly, that your fees are accurate.

Imagine a template library where you can draft up a fully branded professional proposal in minutes. Well, that’s where Bright’s proposal software for accountants, BrightPropose, comes to the rescue. In just a few short minutes, you can whip up proposals that are ready to be sent out for prospects to e-sign. Our pricing calculator also helps you quote more accurate fees – no more second-guessing or losing sleep over the fees you’ve set.

2. Integrate with Companies House 

If you email new clients requesting all of their details and compliance deadlines, how long does it take them to send these over, and how confident are you that they’re correct? Think about how you store this data once you get it too. Are they written on a notebook in your desk drawer, typed into excel sheet on your laptop, or kept on a USB attached to your keychain? While these are all popular solutions, they lack sufficient security standards.

That’s why we recommend using a system that can pull in client details and deadlines from Companies House – and if it’s in the cloud, all the better. This means no more chasing up clients or popping half-heard compliance deadlines into notebooks and spreadsheets – everything’s available in the one place, from just a tab on your browser. If you use a system like Bright’s practice management software, AccountancyManager, simply tick which services your clients need, and the system pulls their accounting dates and deadlines directly from Companies House. No need to whip out the notebook either – these compliance deadlines drive automatically generated task lists. If you still need to get a few bits and bobs from clients, we’ve got that sorted too. Any extra details they don’t send over initially can be chased by the system on your behalf until you get them.

The integration with Companies House is a godsend for us. The customer service team are exceptional and come back on all queries quickly.”   
- Alana, Director in UK

3. Automate professional clearance 

While getting professional clearance from your new client's previous accountant is best practice, it can often result in a whole load of unbillable hours on your plate. Sending over paperwork for a client you’ve just lost won’t exactly at the top of the other accountant’s to-do list, so how can you keep moving forward without having to send out reminders on the daily? 

Well, with AccountancyManager, the system can draft up and send a professional clearance email for you – just instruct it to send out reminder emails to them as often as you like. It's like having a personal assistant taking care of all the admin work in the background for you.

4. Streamline AML checks 

Sure, it’s not the most exciting part of your job, but AML is a legality that a lot of firms seem to struggle with when it comes to efficiency – whether it’s not keeping proper records or training staff on AML duties. But considering the consequences of not keeping up with AML regulations, the plan for the government's Economic Crime Plan 2, and the sheer amount of admin that revolves around it, it’s vital for the longevity and sustainability of firms to have a system in place that streamlines these procedures.

To make your life easier, you can handle AML ID checks, company credit checks, and risk assessments all in one place – in practice management solution, AccountancyManager. Just purchase the credits, pop in the clients’ details and any other data, and the result will appear in the system – letting you know whether it’s passed or failed. For risk assessments, your checklist lets you assess if your client has a cash-based business, has any pending tax matters or payments, and more. Then just categorise them as low, medium, or high-risk clients, and their risk level will appear at the top of their profile. Our AML process has been thoroughly checked by former HMRC tax investigator, John Groves, so you can have peace of mind that all policies and procedures are being followed.  

Here at Bright, we create software for tax, compliance, practice management and payroll. We’re on a mission to make a happy and efficient working life a reality for accountants through reliable software and amazing support. Interested in learning more about AccountancyManager and BrightPropose? Book a demo of our any of our software below.

eleanor vaughey 

 

Written by Eleanor Vaughey | Bright

 

 

 

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