5 Platforms that Will Help You Thrive in a Disrupted World
Tech platforms and tools to help you run your accounting and corporate secretarial business efficiently
Time and tech wait for no man.
Technology has been moving so quickly that the operating models accountants and corporate secretaries were used to are all gone. Inevitably, it has become a do or die for traditional corporate service providers to adapt to these advancements.
The latest technology trends include cloud based systems, machine learning and blockchain. The fintech sector is bursting with firms that have spent millions on incorporating these trends into their product offerings. Many don’t make it. However, the ones who do end up creating technology platforms that completely transform the way corporate services firms are run.
As a result, we are seeing the newest arrivals on the corporate services scene fully embracing technology.
Osome and Sleek are examples of firms that have differentiated themselves through their adoption of tech-enabled workflows, courtesy of some of these powerful tech platforms.
Here are five platforms that have been making waves in our industry.
Xero is a cloud-based accounting software platform used by SMEs globally. The software uses a single-unified ledger that allows users to work on the same set of books in real time regardless of location and operating system. Key features of Xero include standard business and management reporting as well as automatic bank feeds.
Xero has established partnerships with more than 800 third party apps and more than 200 connections to financial service providers. This enables their clients to streamline many business functions in their firms. They can get paid faster, easily access the capital they need, and make critical business decisions with well structured information.
- Receipt Bank
Receipt Bank is a digital bookkeeping tool. It allows business owners to electronically capture and store receipts and other financial source documents with its Optical Character Recognition (OCR) technology.
The platform effectively eliminates manual data entry processes. Users simply snap a picture of receipts and upload them through the mobile app onto the platform. Accountants and bookkeepers can eyeball the processed information for accuracy by comparing them to the financial source documents on the same screen.
HelloSign is an e-signature solution that allows people to sign important documents quickly and remotely. The e-signatures that the platform supports are secure, business-caliber and legally binding. Signatures can be requested from up to 20 different people on the same document. Once complete, a copy of the document is emailed to each participant.
Using HelloSign can let businesses completely do away with the hassle of a printer, scanner, or fax machine. In other words, the platform greatly reduces the double handling and time lag associated with processing paperwork.
Starboard is an all-in-one corporate governance platform. It has everything a corporate service provider needs for entity management and stakeholder engagement. The platform optimises workflows with its customisable job and message templates. This allows team members to save time on coordinating and tracking client responsibilities. Time spent on routine tasks and client communication are virtually reduced to a few clicks by automation.
Cloud based servers ensure that every document handled by the firm is accessible on any device at any time. By eliminating tedious and repetitive processes, corporate service providers can focus on client acquisition and higher value advisory work.
- Practice Ignition
Practice Ignition provides a major enhancement to the client engagement strategy of firms. It is a very effective way of creating professional proposals and billing clients. The system allows for the tracking of performance with extensive analytics. Companies that utilise the platform get to automate much of the customer management process, from the sending out of engagement letters to payment collection. Time is no longer spent on crafting contracts or chasing clients to pay, leaving users with bandwidth to focus on long term business planning.
The world is changing fast, but it does not have to be an incomprehensible place. The aforementioned tech platforms, among others, will illuminate the way forward.
Who or what is Starboard?
We’re a team of programmers and designers — with deep experience in building cloud-based platforms for high-growth companies.
We would like to show you how we start planning for your firm to join the future in both a time and cost-effective manner.
Click this link to schedule an appointment with us for a walk-through and demo of our platform. Schedule an appointment and we will set something up this or next week, at your convenience.