For accountancy firms looking to grow their business and streamline their day-to-day processes, practice management software is the solution that could enable you to do that. But what is practice management software? It’s software which can be adapted to an accounting firm in order to cut out those administrative tasks that fill up all of their time and allow the business owner and employees to manage all of their information in one central place.
With the ability to securely store all client information and use it to send automatic reminders, share documents through the portal, and communicate online, maintaining strong client relationships has never been as easy. The software will also make missed deadlines a thing of the past by automatically generating daily task lists to help employees manage their workload and provide assurance to the business owner that all deadlines will be met.
Although there are various different software out there, finding one which ticks all of the boxes is a different story. Knowing what practice management software is and being able to pick accordingly will improve the likelihood of business success, transforming outdated processes for good. A key thing to keep an eye out for is a cloud-based software which keeps all data securely backed up online and is GDPR compliant. By being able to access the practice management software wherever you are, businesses are able to minimise the worries of privacy breaches when employees are working remotely or logging on from new devices.
Five reasons to make the switch
- Eradicate human error
If you’re having to navigate your way around multiple Excel spreadsheets every single day, it’s time to look elsewhere! As well as being a time-consuming process, having various different sheets on the go massively increases the risk of human error and finding any faults can be a challenge. If your old system simply isn’t cutting it anymore, remove the manual aspect of your day-to-day job and switch to a much tidier platform which keeps all of your important figures in one central place.
- Focus your effort where it matters
Save yourself a significant chunk of time every single day so you can focus your efforts elsewhere. By being able to automate ongoing processes such as email reminders and text messages, you can focus more on the client service. AccountancyManager makes it easier than ever to integrate with other accounting software such as Sage, Xero, Quickbooks, and FreeAgent, so the transition is as smooth as can be and you don’t have to worry about losing your data in the process.
- Keep everything in one central place
Do you ever feel like you’re drowning in deadlines? Being able to manage all of your information in one place can take a huge weight off your shoulders so you don’t have sleepless nights fretting over tight turnarounds. When your clients, tasks, deadlines, and email templates are all stored on the same platform, you no longer need to worry about juggling multiple different things and can allocate your workload much easier for maximum productivity.
- Overcome remote working obstacles
Now more than ever, many businesses are adapting to remote working and allowing employees to either work solely from home or split their time between the office and home. To ensure everyone is working on the same page, AccountancyManager allows both business owners and employees to see their to-do lists and have a set plan for the day. The addition of an internal system will prove especially handy for accountancy practices who are new to remote working, keeping momentum high as everybody knows what needs to be done.
- Grow your business
Once your practice management software is up and running, it will quickly become the backbone of your accountancy firm and can be used as a central hub to branch off from all areas. With so many time-saving features and automated processes, the time and money you save will be able to go back into your business so you can start to grow. By having the new found time to tackle all of those projects across your firm, you can reach new heights without having the expenses of hiring new employees or cutting back in other areas.
Try it out for yourself
Now that you know what practice management software is, do you think it could be the solution your own business has been looking for? AccountancyManager is an award-winning software solution designed to revolutionise accountancy firms and help them thrive.
If you want to give it a go for yourself, try it out completely free of charge by signing up for a 30-day trial. Alternatively, feel free to get in touch and speak to one of our team directly to request a demo of the AccountancyManager platform or ask any questions you may have.