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Grow your firm with accounting software

27th Nov 2018
Brought to you by
Caseware_logo_ix

Caseware financial reporting and audit solutions.

Save content
Have you found this content useful? Use the button above to save it to your profile.

Understanding and reporting on the financial health of a client is central to any accounting firm or practitioner. This process, which used to involve paperwork and chasing down documents, has now been largely automated.

Because of accounting software, much of the paperwork needed to analyse the financial health of a client is now in digital form and the process is completed online. But accounting technology has not only helped firms deal with clients' requirements; it has also opened up the potential for these firms and practitioners to grow their own businesses using the same technology and platforms.

Automating processes: the key to retain and win clients

Modern accounting tools now offer an alternative for firms and practitioners so that they don’t need to work with paper and manual form filling. By making the processes online, manual tasks, which are often prone to human error, are disappearing making the process of filling out and filing reports much faster and accurate.

Nearly a quarter (23%) of accounting firms think that technology is the key to winning new business according to research. The reason is that technology is enabling accountancy firms to work flexibly from anywhere and handle client enquiries on the road, improving their efficiency and meeting the expectations of their clients.

Businesses are now looking for partners who are increasingly flexible and who can work in new ways to meet the needs of their business. By using technology to improve efficiency and free up teams from manually inputting data, accounting firms can spend more time developing relationships with current clients and spending more time nurturing prospects.

Advice in real time

Automation is freeing time for accountants to deal with more complex cases and to build relationships with clients and prospects to gain more business. From the cloud, to data capture, to dashboards, the evolution of accounting software is making work far more efficient and leaving room for the traditional "soft skills" and client relationships to make a return.

With cloud technology, both accountants and their clients have much easier access to information. This means clients need to call their accountants to ask about non-urgent matters less often and it also enables accountants to answer their questions and offer advice quicker and more effectively.

Always contactable

Because of the connected nature of cloud technology, accountants can also work collaboratively with their colleagues even when they are not in the office, allowing them to spend more time "in the field" and helping clients.

Accountants can get out of the office with the confidence that if a client does call with an urgent matter, they still have access to the information and data they need to help. For instance, employees can receive receipts, bills and other paperwork via apps; meaning they can scan relevant information and store it in client files and portals from anywhere.

And besides enabling accountants to work more collaboratively within their teams, cloud accounting also enables businesses to contact their own suppliers and partners at any time.

To find out how technology is changing the nature of accountancy and for more advice to digitally future proof your firm, download the How to Digitally Future-Proof your Accounting Practice eBook.