In a recent survey, we discovered that accountants and bookkeepers spend almost five hours a week checking bad client data. For a firm of 15 accountants and bookkeepers, that represents 3,284 hours spent on bad data every year – nearly 20 weeks. When it comes to deadline management, this can represent a big problem.
By automating data checking, practices can save up to 40% of the time they spend doing it manually. These extra hours can be used on strengthening relationships with clients and expanding billable advisory services – but it also means never missing a deadline.
Dext Precision spots errors in clients’ data so you can quickly fix them without having to spend time investigating what is wrong. The workflow functionality also makes it easier for you to see what’s coming up on the work schedule for each client, so you can always plan ahead. Scheduled workflows give full visibility over all tasks and help you ensure reporting is consistent, even if you have lots of clients with varying financial cycles.
Precision allows you to create customised templates to manage your processes efficiently, and these data-driven workflows link through to Xero and QuickBooks transactions directly from the data. You can also perform custom checks to do things like chase a client for outstanding invoices and keep track of your team to see how they’re managing work that has been assigned to them.
In-depth reporting can help the team be more proactive around upcoming deadlines and conditions of bookkeeping. In the same survey, respondents told us it takes around two hours to fix common errors on clients’ data, which is usually unpaid overtime. By tracking this, you can not only improve productivity but also charge for the time spent amending clients’ bookkeeping records.
With Precision, saved time could be used on recoverable work – creating new value-add services using Precision’s performance metrics, offering more advisory services, or taking on additional clients. No more deadline management issues, no more missing important checks and no more rushing with late submissions: Precision gives you more time to stand out with the peace of mind that your work is risk-free.
Manage deadlines, deliver on time and stay in control with Dext Precision.
Give it a try today.