5 Things You Should Look in Your Accounting Practice Management Software
Let’s be honest; we’re all little divided on what “practice management” is and what it should be.
This is why there are 100 different ways to look at your accounting practice management software, and it entirely depends on who you ask and what this person wants from it.
Nonetheless, what we have gathered so far customizing IT solutions for accountants and discussing practice management is – it is all about managing your clients, generating, collaborating and tracking the progress of both future and past work.
So basically, you need a software which includes several different things, starting from proposals, payment processing, workflow management, sales enablement, client communication, reporting and much more.
Unanimously, we can say that your practice management should cultivate strong client relationships.
Things to Consider in Your Accounting Practice Management Software
So, what things you may look in your practice management software to be more efficient with your client requirements and forge a sturdier affiliation? Let’s discuss in detail:
Automation to Save Time and Money
Nobody likes spending hours manually organizing and administrating the projects. The necessary request from the accounting software platform would be to help you free up your time. The more automated workflow it can generate, the more you can concentrate on your important projects and initiatives. For instance, we all know how accountants are lost in grunt work like managing timesheet or organizing tasks. It would be excellent if the practice management software you purchase can keep time track automatically and prepare a flexible project plan.
Project Management to Optimize Your Processes
Try finding software which can efficiently manage your business processes and workflows. As an accountant, you need to configure your milestones. The software should prompt different team members to update fields and send out automatic alerts when required.
Once the team members update the fields and the software can sync the schedules, and automatically assign tasks to appointed members. This will free up lots of time for the team members, especially for the ones overseeing calendars and spreadsheets.
Also, your practice management software should include reusable templates, drag-and-drop Gantt Charts, real-time updates and a shared screen where your team can have an overview for the project. The project management capabilities of your software will help to keep everyone informed and aware.
Intelligent Adaptive Scheduling
You can research the best and most popular project management methods and lookup for intelligent and adaptive project scheduling. This feature can help you manage milestones with budgets and evaluate expected timelines with the financial disciple. Moreover, smart adaptive scheduling can assist you in accommodating changes and pause projects for both you as well as your team. Hence, you can monitor tasks and milestones as per the requirements.
Better Control with Billing and Invoicing
Use technology to improve how you handle billing and invoicing. Try to find software where you can track all the movements within your business using an automated time tracker.
Your software can give you the liberty to create and design your invoice templates, including the PDF invoices. This way, you can promote and showcase the value of your company.
It would be great if you can also look for controls that can help you manage which details your clients can see whether services, materials, expenses or anything else.
Harness the Power of Triggers
Triggers can help you configure rules which trigger business processes automatically — for instance, an email remainder or updating the status of your work. With your practice management software, you should be able to set the frequency, control the days and times when your trigger to run on with your operations.
Partner with Discovernet
At Discovernet, we know that your clients expect more from your accounting firm, which is why you should expect more from your accounting practice management software. It’s time that you stop accepting the state of your accounting software and utilize a modern platform that will fulfill your needs.
This is why our professionals will not merely offer you pre-packaged software solutions, or IT services, understanding your requirements and your niche.
So, no matter, you are looking for software like Practice Ignition, NetSuite for Accounting, Xero Practice Manager, Karbon, or Aero, we can help you optimize your workflow with expert consulting.