ERP for Accounting Firms
Bill more hours, earn higher profits, and grow your practice.
Bill more hours, earn higher profits, and grow your practice.
Your accountants and finance professionals go to work each day with one goal: to help clients better their business and capitalize on new opportunities. How do you equip them with the tools they need to not only get the job done, but excel?
Accountants are known for their focus on numbers, so here are some numbers for you:
These numbers, and more, are attainable with Dynamics 365 AXIO for Accounting Firms.
Learn how our Dynamics 365 + AXIO solution helped Berkowitz transform their accounting practice.
Seamless integration
To drive businesses processes, many accounting firms rely on multiple, disconnected systems that have been pieced together over many years. These disparate systems make it impossible to accurately project, measure, and make sound business decisions. Accounting firms should ensure their software delivers integrated project management, document management, workflow management, and financials for accurate and actionable reporting.
Compliance
Accounting firms require an ERP that promotes compliance, and with ever-evolving rules, this means your software must always be up-to-date. A cloud-based system will allow your firm to update your software as soon as a new version of your ERP is released. With fully integrated ERP and project management, your accounting firm can automatically transition all systems and begin leverage new features with efficiency, speed and accuracy.
Rapid deployment
Traditional implementations require significant time and investment in consultation and business analysis to ensure that business processes are accurately defined and documented before an implementation plan can even be scoped and developed. An ERP implementation should provide accounting firms a functioning financial system right off the bat, and deployed in a way that will enable your practice to grow and easily expand systems in the future.
As a professional services organization, accounting firms require tools to increase customer satisfaction, outpace competitors and maximize profitability. You need visibility in order to accurately plan, efficiently utilize resources, and ultimately grow your practice. In addition to core ERP functionality, accounting firms require capabilities to support:
Project management is fundamental to your accounting firm practice. The time you spend with your clients is limited. The impressions you leave are forever. Your goal is to secure your place at the table year after year. Continuity is key — whether you allocate the same team or not. A well suited ERP will seamlessly integrate continuity with project management software designed for your firm’s success.
It is particularly important for accounting firms to implement project management software that allows them to get up and running immediately – efficiently managing projects and supporting positive client experiences.
Project management software for accounting firms should include features such as:
This powerful combination provides accounting firms with the project and task management benefits they need to grow their practice.
Streamlining processes and workflow is everything when it comes to completing a job for a client. Your accounting firm requires a workflow management software solution that not only standardizes processes, but promotes efficient time and billing tracking, seamless document management, and ensures you have the right resources working on the right tasks. ERP software should support workflow management and help your accounting firm:
Your goal is to provide the best possible client experience. To do so profitably, you need the right people, with the right skillsets, on the right projects. A fully integrated solution will promote collaboration and communication among stakeholders. With improved insight and forecasting, you can do a better job of managing your resources. Your business systems should help your accounting firm:
An Accounting Firm ERP should be equipped with integrated document management to track a contract from the time of negotiation to acceptance, works-in-process, and then retirement – greatly simplifying the complex nature of revenue recognition. The document management software should support processes such as:
Tax and Accounting Firms rely heavily on digital technology to support their operations due to the need to do calculations and reporting on financial performance. Download our Guide for Accounting Firms to learn how you can take control of your digital transformation.
Velosio has extended Microsoft Dynamics 365 for Finance and Operations with functionality built specifically to address the needs of accounting firms including Project and Workflow Management, Scheduling and Resource Management, Document Management, and Financials.
AXIO and Dynamics 365 Features
Financial Features
Project and Resource Management
Project Accounting and Billing
Results
Our Dynamics 365 AXIO solution, specifically tailored of accounting firms, is designed to specifically enhance processes and functionality for practices. Results include:
Hierarchy Debugger:
Controller Debugger: