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Are You Ready For How Technology Will Impact Accounting In 2024?

Wed, 31 Jan 2024 18:00:00 +0100

The accounting industry is on the brink of change thanks to technological advancements that will reshape the way we work. As the demand for accurate, timely financial information continues to grow, accounting professionals need to keep up with the latest trends.

Part of this involves understanding how technology will impact accounting in 2024.

From blockchain technology and artificial intelligence (AI) to streamlined file sharing and sophisticated client portals, these innovations will enhance security, automation, collaboration, and information tracking.

In this article, we’ll walk through 11 ways accounting will be affected by technology advancements in 2024.

Want to future-proof your accounting processes? Get in touch to see how a secure online workspace like Glasscubes can drive growth.

11 Ways Technology Will Impact Accounting in 2024

1. Blockchain technology will streamline transactions and reduce fraud risk.

Blockchain technology is a distributed ledger that enables accounting records, financial transactions, and data to be shared across a network of computers.

Essentially, it allows secure and transparent transactions to occur without the need for a single organisation or entity to be in control, reducing the need for intermediaries.

The benefit for accounting professionals in 2024? Blockchain technology has the potential to revolutionise the industry by enabling accountants to record transactions and verify their accuracy with greater ease.

For example, if an organisation uses blockchain technology to manage its accounting records, the company will be able to create an immutable ledger that cannot be altered. This means the records will be tamper-resistant and can be audited easily, helping to boost trust and transparency among the firm’s clientele.

2. Artificial intelligence and robotic process automation will supercharge efficiency and accuracy.

Artificial intelligence (AI) is the simulation of human intelligence in machines that are programmed to think, learn, and improve. AI allows accounting professionals to automate a number of tasks, such as data entry and reconciliation.

For instance, if an organisation uses AI for its month-end close, the process can be completed in days instead of weeks. Additionally, AI can reduce the risk of errors and fraud by identifying anomalies in the data and raising alerts.

Robotic process automation (RPA), a different technology that does not require machine learning, also helps to automate repetitive tasks. As such, RPA can decrease manual mistakes and increase efficiency in data entry, report generation, and data reconciliation.

For example, if a company uses RPA for its accounts payable process, invoices can be processed and paid much faster than if this was done manually.

“The boring, unpleasant work of accumulating and computing data is one of the aspects of accounting that professionals dislike the most,” says Darshan Somashekar, CEO of Solitaired. “However, thanks to technological advancements, accountants can now do all of this with the click of a button.”

Somashekar adds that modern accounting software has given accountants more time to devote to a wider range of tasks. They are increasingly able to move away from time-consuming number crunching and into roles that require a more strategic outlook. “Data analysis and interpretation, financial planning guidance, and business consulting are just a few examples.”

3. Cloud computing will increase flexibility and lower costs.

Cloud computing technology provides accounting professionals with the ability to access software and data over the internet, no matter where you’re located. It can drive down costs and offer greater flexibility by eliminating the need for physical computer servers.

With cloud-based accounting software, an organisation can easily add new modules or users without having to purchase additional hardware or software licenses. Additionally, cloud computing can improve collaboration by allowing accounting professionals to make changes to the same document in real-time.

“By far, the most disruptive revolution we've seen in the accounting industry has been cloud-based accounting,” says Martin Chee, CFO of Amaka. These solutions have made it significantly easier to have accurate, up-to-date books around the clock.

Plus, they've unlocked the ability for accountants to create entire digital ecosystems where different digital tools can talk to one another. “You can now manage your accounting from anywhere, at any time, and give access to people all over the world,” Chee adds.

This also means that organisations can outsource their accounting needs to service providers from distant locations. According to Johannes Larsson, CEO of Financer.com, small to medium-sized businesses previously had no choice but to use the services of nearby accountants or have an in-house team of accountants. Not only did this limit the accessibility of affordable accounting solutions, but it also severely limited collaboration since only a few people could access a company’s books.

“Cloud accounting has enabled easier access, so users can pull massive financial data, as long as they have reliable internet access,” Larsson says.

4. Client portals and file sharing platforms will improve customer service and transparency.

Client portals are secure websites that allow clients to view their financial statements, invoices, and other related information. These portals reduce the time it takes accounting firms to respond to client queries by allowing clients to access their information, improving client service overall. They also cut down on the need for accountants to chase down files from clients, essentially removing unpleasant and time consuming administrative work, and ensuring that accountants can always find the client information they need.

File sharing isn’t only beneficial between accounting professionals and their clients. Technology also enables accountants to securely share files with one another, saving time and boosting collaboration by allowing multiple users to work on documents simultaneously.

By leveraging a file sharing platform for its audit documentation, an organisation’s auditors can access documents remotely and work on them at the same time without issue. Additionally, file sharing can reduce the risk of errors and fraud by ensuring that only authorised personnel can access the documents. This is yet another major way technology will impact accounting in 2024.

5. Robo-advisory will enhance portfolio management and risk tolerance assessments.

Robo-advisory involves the use of automated algorithms to provide financial advice and investment management services. This technology combines AI and machine learning (the field of AI that enables computers to learn from and make decisions based on data) to offer personalized, cost-effective investment recommendations.

Robo-advisory will continue to affect the way accounting professionals handle investment-related activities. For instance, firms can offer robo-advisory services that give clients real-time investment advice tailored to their financial goals and risk preferences. This will enhance customer satisfaction, promote efficiency, and drive down costs.

6. Drones will allow auditors to focus on strategy and compliance.

By leveraging drones in inventory management in 2024, auditors will be able to shift their attention from counting boxes to more valuable and critical activities like strategic decision-making, identifying potential irregularities, and ensuring compliance.

In the past, auditors have experienced a lot of headaches when it comes to counting inventory, says Stephanie Ng, CPA and owner of IPasstheCPAExam.com. “If you’ve ever had the ‘joy’ of conducting a manual inventory count, you know there’s nothing exciting about it.”

She adds that auditors wind up wandering around an often unorganised warehouse trying to find obscure items. This process could take hours, if not days, to complete and often results in discovering various discrepancies. “Now, we have robots and drones to roam the warehouse to keep track of items.”

Embracing this technological advancement will not only streamline operations for companies, but also elevate the role of auditors in the industry as valued advisors and strategic partners.

7. Cybersecurity measures will safeguard against data breaches, identity theft, and ransomware attacks.

As technology advances, cybersecurity becomes increasingly crucial for protecting sensitive financial data. In 2024, accounting professionals will need to adopt robust cybersecurity measures to safeguard against threats such as data breaches, identity theft, and ransomware attacks.

Using technologies like encryption, multi-factor authentication, and AI-powered anomaly detection will be essential to ensure data integrity and maintain client trust.

For example, organisations may implement biometric authentication, such as fingerprints or facial recognition, for employees to access financial systems and sensitive data. Additionally, AI-driven cybersecurity solutions can continuously monitor network traffic, detect abnormal behavior, and provide real-time alerts to prevent potential breaches.

8. Natural language processing will revolutionize the handling of unstructured data.

Natural language processing (NLP) is a branch of AI that enables computers to understand and interact with human language. In the accounting world, NLP can be used to automate data entry, generate reports from textual data, and extract insights from unstructured documents such as emails and legal contracts.

Here’s how this technology will impact accounting in 2024. Let’s say an organisation starts to leverage NLP algorithms to extract relevant information from contracts and automatically populate accounting systems. The result? Less manual effort and a higher level of accuracy. As an added bonus, NLP-powered chatbots can also handle routine client inquiries, providing instant responses and enhancing customer service.

9. Big data analytics will transform the processing of large volumes of data.

Big data analytics refers to the process of examining large and complex data sets to uncover patterns, correlations, and trends. This can help accounting professionals gain valuable insights from large volumes of financial data, so they can make data-driven decisions, identify potential risks, and improve forecasting accuracy.

For instance, by using advanced algorithms and data visualization tools, organisations can identify cost-saving opportunities, forecast cash flow more accurately, and promptly detect potential fraudulent activities.

10. Accounting professionals will become more specialised.

As a result of all of these technological advances, general accounting is no longer in as high demand as it was in the past. Accounting has become about bespoke services and personalisation. In 2024, customers will continue to want their individual needs to be met instead of getting an off-the-shelf solution.

“Technology has forced specialisation onto the accounting industry,” says Perry Zheng, CEO of Cash Flow Portal.

Zheng says companies look for accounting solutions that can give them deeper insights rather than just an overall financial position, so they can make informed decisions. “Accounting software has evolved to meet these new needs. It enables customisation across every aspect of accounting, including data entry, reconciliation, and reporting.”

11. Business owners will be more adept at basic bookkeeping tasks, positioning accountants to help with more complex responsibilities.

Solutions such as QuickBooks have enabled individuals with no accounting background to maintain their own books. This will continue in 2024.

“As accounting software has advanced and become more user-friendly, business owners have been able to take care of more basic bookkeeping tasks—without consulting a CPA or enrolled agent (EA),” says Ng. “Before, if business owners needed a profit and loss statement to apply for a line of credit at the bank, they would have to ask an accountant to prepare it. Now, a business owner can simply create this financial statement on demand.”

Ng adds that this shift in dynamic—accountants being less involved in more simple accounting tasks—hasn’t eliminated the need for such professionals. CPAs and EAs are still invaluable for helping their clients with contentious or complex tax cases and performing other professional engagements, such as an audit, review, or compilation.

“The ever-increasing evolution of and access to technology simply means that accountants are able to shift their focus to areas that require more complex thought and consideration, rather than focusing on mundane, repetitive tasks they once had to juggle,” she says.

Embrace Innovation With Glasscubes

There’s no doubt that technology will continue to drive massive change in the accounting industry in 2024. Accounting professionals who embrace these innovations and adapt their practices accordingly will be well-positioned to succeed in the rapidly shifting landscape.

Leveraging technology like Glasscubes—a robust collaboration solution and client portal— can keep your entire organisation connected, whether you have a small or large workforce.

With Glasscubes, you can:

Request files securely from clients, eliminating the hassle of searching for information and follow-ups.
Collect, process, and approve information through customizable automated forms and workflows, complete with assignees and alerts.
Create custom workspaces for each project team, enabling resource-sharing and easy oversight.

“Really enjoying using Glasscubes as an information gathering tool. We are a firm of accountants, and this clever but simple software is saving us time and helping us automate but maintain personal touch and branding.”

—Alison, a reviewer on Software Advice

With Glasscubes, accounting firms can achieve unprecedented levels of efficiency, collaboration, and oversight in 2024, taking their operational processes and client service delivery to new heights.

Experience the power of Glasscubes and take your accounting firm to new heights of collaboration and efficiency. Contact us today to get started.

8 Things You’ll Never Say Again After Using A Simple Accounting Client Workspace

Fri, 26 Jan 2024 09:38:50 +0100

The work of a CPA involves a lot more than preparing tax returns and providing financial advice—engaging with clients can be its own full-time job!

That full-time job comes with its own set of challenges:

You can never find what you need when you need it. Clients take eons to respond (and when they finally do, they’ve sent the wrong document). The ball gets dropped when you hand off work to other team members.

These age-old problems are nothing new for experienced accountants. But there is a modern solution that helps mitigate them, and it's simple:

You need an accounting client workspace.

Client workspace tools focus on helping accountants and their clients collaborate with one another without the typical headache involved in client engagements. Keep reading to see how client workspaces can help resolve some of the biggest issues your accounting firm faces every day.

**Can’t imagine what work would be like without administrative stress? We can show you! Book a free demo of Glasscubes today.**

8 Things You’ll Never Say Again Once You Start Using A Simple Accounting Client Workspace

1. “I can’t find [X]!” (Fill in “X” with literally any type of client document you can think of.)

Working with multiple clients means you often have a large number of documents to manage such as invoices, receipts, bank statements, tax forms, and other financial records.

This difficulty can result in delays and inefficiencies as your team spends time searching for the files they need—a situation that negatively impacts productivity and may lead to missed deadlines or incomplete work.

Additionally, misplacing or losing important documents can result in inaccuracies in financial reports or potential compliance issues.

Clients may even lose confidence in your firm’s ability to handle their financial information.

To address this issue, you could try simply establishing a consistent naming convention and folder structure.

A better solution: Implement a simple accounting client workspace (also called a client portal). It enables you to categorize and organize documents, making it easier to search and retrieve specific files. This will improve team productivity and reduce frustration for you and your clients.

In Glasscubes you can…

easily share and organize financial documents, tax returns, and reports securely in one centralized location.

No need for manual tracking and searching through numerous email attachments. Everyone will always have access to the latest versions of every document!

2. “Did we receive the latest [X]?” [Yep, same here as above with X.]

Does your team regularly struggle with document tracking and communication delays?

If so, they probably tend to start work with incomplete or inaccurate information. This ultimately leads to errors or omissions in financial reporting, rework, increased turnaround times, and potential client dissatisfaction.

Moreover, the lack of clarity on file receipt can cause delays, as your team may need to spend additional time following up with clients. Inefficient tracking and confirmation of document submissions can also hinder your management ability to accurately assess workloads and allocate resources.

To overcome this challenge, at minimum you need to establish a clear process for receiving and confirming the receipt of important files from clients.

For maximum efficiency, however, use a client portal or secure file-sharing platform where clients can upload and share documents. By having a centralized location for file exchange, you can easily track and monitor incoming files.

In Glasscubes you can…

use the file request feature to collect multiple files without having to endure back-and-forth email exchanges. This is an especially useful feature during tax season or audits!

Whether you need 10 documents or 100, collect them all via a single link that navigates to a unique, secure portal where clients can upload the documents you need. Files are checked off as they’re uploaded, so you and clients can easily see progress.

3. “What’s going on with this client?”

Some degree of collaboration is a necessity, but when handing off pieces of work to other team members becomes a challenge, you know something has to be done.

Ineffective delegation can lead to misunderstandings, errors, or inadequate completion of tasks, which can result in delays, rework, or inconsistencies in the quality of work produced.

Plus, a lack of clear communication and expectations can lead to misunderstandings and negatively impact client satisfaction.

Essentially, handing off work without proper documentation or context can disrupt the workflow and efficient completion of tasks, potentially affecting deadlines and overall productivity within your accounting team.

To mitigate these challenges, establish standardized procedures and guidelines for task delegation and handoffs. This includes clear documentation of work progress, deadlines, and expectations.

You can eliminate these issues altogether with project management software or task management tools, which make it possible to digitally assign and track tasks, ensuring transparency and accountability. Regular communication and check-ins with team members can also help to address any issues or concerns that arise during the handoff process.

In Glasscubes you can…

create and assign tasks to clients, other team members, vendors, or any users to which you’ve given appropriate access.

Task reminders and notifications make it easy to convey clear expectations and deadlines, which improves accountability and timely completion of deliverables.

4. “What was the story with this document/client again?”

You may experience out-of-context conversations with clients, where information or discussions lack sufficient background or framing. This can occur due to gaps in documentation, lack of prior knowledge, or incomplete communication.

Without the right context, you may struggle to provide accurate advice or address client queries effectively. Vice versa, the client may not be able to clarify questions you pose.

Either case can lead to misunderstandings, potential errors, or incomplete solutions. Lack of context in conversations can also hinder relationship-building and rapport with clients if they feel that their specific needs or situations are not fully understood.

A helpful practice here is to maintain detailed notes and records of client interactions. This can include recording meeting minutes, documenting emails, and summarizing phone conversations. By centralizing this information in a shared database or customer relationship management (CRM) system, accountants can ensure that all team members have access to the latest information when communicating with clients.

Alternatively, centralizing communications in a simple accounting client workspace can ensure every conversation is contextual. Instead of digging through lengthy email threads or referring to notes, you can start conversations directly from relevant items like files or tasks.

In Glasscubes you can…

start threads directly from created tasks, uploaded files, checklist items in file request portals, status updates, and more.

Every response will remain within the context of the item you started it from, ensuring everyone has a relevant reference point to minimize misunderstandings and the need for framing questions.

5. “Dear Client, I’m still waiting for [X]...”

You know the drill—it’s “Dear So-and-so” over and over again until you finally get all the documents you need.

Delayed responses from clients can pose a significant challenge for even the most veteran accounting team. After all, no amount of knowledge or experience can help if clients don’t do their part by providing their financial documents and answering your team’s questions. Such delays can lead to bottlenecks in the workflow, missed deadlines, and added stress to the accountant-client relationship.

To address this issue, set clear communication expectations with clients at the beginning of the engagement. This can include noting required response timeframes, outlining preferred communication channels, and providing reminders for pending requests.

In Glasscubes you can…

never chase a document again!

Glasscubes allows you to set up automated reminders for file requests so you can avoid the hassle of manual follow ups with email. Generally, you can send up to 10 reminders on a simple schedule.

If you use the advanced options, the sky’s the limit. Send an unlimited number of reminders with any frequency or on specific days of the year. Even customize messages for each reminder to, for example, indicate greater urgency to meet upcoming deadlines.

In cases where response delays persist despite automated reminders, direct communication can be helpful.

Reach out to clients via phone or video chat to understand the reasons for the delays and work together to find alternative solutions. Building strong relationships with clients and fostering open lines of communication can help reduce the occurrence of delayed responses and ensure smoother client engagements.

Keep all your client conversations, files, and tasks together in one secure accounting client workspace. Book a free demo of Glasscubes today.

6. “I’m sorry for the delay…”

Managing client expectations can be challenging as clients may have unrealistic expectations regarding the scope of work, timeline, or outcomes of financial processes.

Clients may become dissatisfied and unhappy with the services provided, leading to potential loss of business or negative word-of-mouth.

Misaligned expectations can also cause misunderstandings and conflicts between your team and the client, hindering effective communication and collaboration. They may also lead to delays, inefficiencies, inaccurate financial reports, and missed deadlines.

Additionally, managing unrealistic expectations may require additional resources and efforts from you and your team, causing increased workload and potential strain on your firm’s resources.

To tackle this problem, it is important to establish clear and realistic expectations at the beginning of the engagement. This can include discussing the scope of services, explaining the timeline for deliverables, and managing client beliefs regarding results or outcomes.

Regular communication and progress updates throughout the engagement can help to address any concerns or misunderstandings and ensure that client expectations align with the agreed-upon services.

In Glasscubes you can…

reinforce expectations.

For example, you can require that all communications with your team go through Glasscubes so that you have greater visibility into everyone’s activities—see what files are uploaded, what tasks are being completed, and who said what and when.

This visibility gives you the information you need to intervene should any issues arise with the client or among your staff.

7. “Has our team completed those compliance tasks?”

Your firm faces the challenge of navigating complex tax regulations and compliance requirements during client engagements. Tax laws are constantly evolving, making it challenging to stay up to date with all the changes and ensure compliance for your clients' financial activities.

If you don’t stay up to date with changes in tax laws, you risk non-compliance, which can result in penalties, fines, or even legal issues. Failure to comply with tax regulations can damage the reputation of both your firm and your clients’ businesses.

Additionally, inaccurate or incomplete tax reporting may lead to missed opportunities for tax deductions or credits, resulting in increased tax liability for the client. The complexity of tax regulations can also increase the time and effort required to accurately prepare tax returns, potentially impacting productivity and leading to longer turnaround times.

To overcome this issue, accountants need to continually educate themselves on tax laws and regulations through professional development and staying informed about updates from tax authorities. Utilizing tax software tools and automation can also help to streamline compliance processes and ensure accurate reporting. Collaborating with tax experts or consultants can provide additional expertise and support in handling complex tax situations.

In Glasscubes you can…

ensure your accounting team stays up to date on the latest regulatory requirements by assigning them relevant tasks in Glasscubes.

For example, they may need to attend a seminar, sign up for continuing education, or read industry materials. Detail what they need to do within the task, assign it to applicable team members, and have them mark the task as completed once finished.

8. “Your data may have been compromised as the result of a security breach in our network…”

Your firm regularly handles sensitive financial information, making data security and privacy a significant concern during client engagements.

Protecting client data from security breaches, unauthorized access, or data loss is crucial for maintaining client trust and complying with data protection regulations.

Security breaches or unauthorized access to client data can result in reputational damage, loss of client trust, and potential legal implications. Clients may choose to terminate their engagement if they believe your firm is not taking appropriate measures to protect their data. Furthermore, data breaches can lead to financial loss if sensitive financial information is exposed and exploited.

This is why it’s critical to implement robust cybersecurity measures.

This includes using secure file-sharing platforms with encryption features, regularly updating and patching software, implementing strong authentication processes, and conducting security audits. Staff training on data security protocols and practices is also essential to ensure everyone is aware of their responsibilities in safeguarding client data.

With Glasscubes, you can…

rest assured that your clients’ data will remain safe.

Glasscubes is a secure accounting client workspace. Not only does it protect data by SSL encryption in transit and at rest, but also distributes it across multiple physical locations to ensure high availability and retains it for 30 days.

Glasscubes: A powerful yet simple accounting client workspace for successful client engagements

Glasscubes is a secure client portal and collaboration solution that focuses on helping service providers (like accountants) to reduce their administrative burden while safeguarding their activities.

Our portal is both secure and easy to use. Plus, its multiple capabilities help you work seamlessly with clients to ensure you don’t miss any client files or important tax deadlines.

Imagine being able to:

Request files without having to nag clients with 20 follow-up emails
Assign tasks to clients and staff, then track them to completion
Create and manage an unlimited number of workspaces
Collaborate in real time wherever your clients are located
Control who has access to workspaces, files, and more
Workspace management

Stop imagining and book a demo to see Glasscubes live!

“Saving us hours of resource”

“Prior to using Glasscubes, our whole team was involved in contacting our clients multiple times a year to request their records. This was very time-consuming and was not as successful as we would have liked. We started using Glasscubes this tax year and to date it has saved us around 288 hours of resource, allowing our staff to proceed with actual work. Will definitely be using again in future years.”

—Sophie M, a manager in the accounting industry, via Capterra

How Successful CPAs Manage Client Financial Files

Mon, 22 Jan 2024 15:42:24 +0100

For accountants, one of the most critical aspects of running a successful firm is managing client financial files. The ability to efficiently organize and navigate through these files directly impacts the quality and accuracy of your services.

In other words, mastering document management for client financial information can significantly enhance both your team’s productivity and your client satisfaction ratings.

This article explores the various strategies and tools CPAs, tax preparers, and other finance professionals use to streamline how they organize client files for personal tax returns, monthly bookkeeping, audits, and more. Use the insights shared below to inform your firm’s process for managing client financial files.

Join the legions of accounting professionals who turn to Glasscubes, an all-in-one collaboration solution, for client file sharing. Book a free demo today.

5 Ways CPAs Practice Document Management For Client Financial Information

Regardless of the tools you use at your firm, combining the following approaches and techniques can help you better manage client files.

1. Cloud-Based File Sharing

Many accounting professionals use cloud-based solutions to securely store client files and be able to access them anywhere, anytime. This flexibility enables remote work and collaboration among internal staff and clients even when they are thousands of miles apart.

CPAs can conveniently upload, download, and share files with clients and colleagues via these platforms or portals. Many such tools also offer password protection, limiting access to authorized individuals only.

2. Folder Structure

CPAs often create a well-organized folder structure to categorize and store client financial files. This structure typically includes main folders for each client and subfolders for different types of financial documents, such as tax returns, financial statements, receipts, and invoices.

3. Standardized Naming Conventions

Adopting standardized naming conventions for client financial files is a crucial aspect of efficient and effective organization. These conventions can help avoid confusion and aid in locating specific documents easily.

Naming conventions are typically based on relevant information, such as the name of the client, document type, and document date.

For example, a CPA may develop a standardized naming convention that uses the client name, document type, and document date such as “John Doe Tax Return 2024.pdf.” Another approach is to use a combination of client name, document type, and numeric sequences, which can help ensure that each file name is unique and cannot be duplicated.

4. Document Cross-Referencing

Document cross-referencing is a technique used by CPAs to establish connections between related financial files. It allows users to easily navigate between documents and provides a more comprehensive understanding of the financial information at hand. Here are a few examples of this technique:

Hyperlinks. By inserting hyperlinks within a document, CPAs can direct users to other related files. For example, within a financial statement, a CPA may include hyperlinks to supporting documents, such as bank statements or invoices, which provide more detailed information. This improves the accessibility and efficiency of document retrieval.
Notes and annotations. CPAs may also utilize notes or annotations within documents to reference other related files. They can include comments or additional information indicating which other documents are relevant to the current one. This makes it easier for users to cross-reference and locate additional supporting materials.
Document index. Creating a comprehensive index or inventory of all client financial files is another way to facilitate cross-referencing. The index serves as a centralized reference point, enabling CPAs to quickly locate and access various documents. It can include information such as document names, dates, and specific file locations, making cross-referencing a more organized and systematic process.

5. Backup And Retention

CPAs implement backup procedures to protect client financial data. Regularly backing up files to external devices or cloud storage ensures data integrity and prevents loss due to hardware failure or other unforeseen events. Additionally, CPAs adhere to record retention policies to comply with regulatory requirements.

5 Real-World Examples Of Accounting Document Management & File-sharing

“We use a dedicated client portal that serves as our entire ecosystem for client interactions,” says Jason Moll, a CPA and enrolled agent.

All of his tax preparation clients are onboarded via this solution. Clients are prompted to sign engagement letters, pay invoices, complete tax surveys, upload documentation, and respond to requests directly through the portal.

On the backend, Moll and his team can sort all their clients' files and information in the portal. The portal also has a mobile app that allows them to access client information securely wherever they may be in the world.

“Effective client financial file management is essential to our professional activity as an authorized IRS e-file Provider,” says Hassan Sanders, registered tax preparer and founder of Diabetic Insurance Solutions.

“Our strategy combines cutting-edge technology with a thoroughly planned process to ensure efficiency, precision, and regulatory compliance.”

Sanders uses accounting software to collect and integrate varied financial data from clients. This helps categorize and optimize not only his management of client financial files but the entire firm’s operations.

“Our system can be tailored to specific accounting areas such as tax preparation, bookkeeping, and audits. We tailor our system for unique compliance requirements in tax preparation, assuring correct accounting for required paperwork, deductions, and credits,” Sanders explains.

This tailoring is important as Sanders notes that each tax function has its own nuances.

“For example, tax preparation emphasizes compliance and precision, bookkeeping emphasizes clarity and accessibility, and audits necessitate heightened scrutiny and security.”

Sanders’ approach to handling client financial files is “based on a holistic integration of technology, safe storage, and tailored workflows. This guarantees that individual client needs are met while also conforming to tight regulatory criteria.”

Christopher William, CPA and founder of Balanced News Summary, says his approach to managing and organizing client financial files is based on a combination of traditional filing and digital organization.

He starts by filing original documents in a physical filing system, which ensures he has a clear paper trail for any audits or other situations that may require it.

“From there, I move the documents into a digital filing system for easier access and organization,” says William. “I also use cloud-based software to store client information securely. I can access this information from anywhere, while the system keeps it safe and secure.”

When it comes to different accounting functions, his approach mostly remains the same. However, he does add additional labeling and folder structures to better organize the client’s information.

For example, to organize client files for personal tax returns, he would label each tax return with the year and add them to a folder specifically created for tax returns. This helps keep everything organized and easily accessible.

“Overall, my document management approach is designed to provide a smooth workflow and secure storage of client information,” says William.

The team at Page One Formula manages client financial files by combining cloud-based accounting software with secure file-sharing platforms.

“This setup not only ensures real-time access to client financial data but also fosters efficient collaboration within our team, streamlining our workflow significantly,” says CFO Ian Rodda.

Notably, the team’s approach varies by accounting function. For tax preparation, they use specialized software like TurboTax or H&R Block for accuracy and compliance. Bookkeeping primarily relies on software like QuickBooks for transaction tracking and financial reporting. For audits, they shift to tools like AuditFile or CaseWare, which offer data analysis and risk assessment features.

Dana Ronald, president of Tax Crisis Institute, says his team uses QuickBooks, TurboTax, and e-file services to manage and organize their client's financial files. These technologies have streamlined their workflow and improved the accuracy of our work.

“But the best formula for managing client financial files is first having a system that can generate alerts and notifications to the clients when necessary. This will help keep everything up-to-date and reduce errors,” Ronald explains.

The team’s approach is similar across accounting functions; however, they do customize their services depending on the needs of each client.

“For example, with tax preparation clients, we ensure all necessary documents are in place and offer assistance in filing tax returns. With bookkeeping clients, we focus on organizing their financial records and generating reports for better decision-making.”

Organize client files for personal tax returns, bookkeeping, and more with Glasscubes

If you want to practice effective document management for client financial information, you need a solution that not only lets you store and share files but also improves multiple areas of collaboration.

Enter Glasscubes, a solution that’s more than just file sharing for accounting—it’s version control, approval workflows, task management, file requests, and many more features that help you work seamlessly with clients to ensure you don’t miss any client files or important tax deadlines.

Here are the key features accountants love about our client portal:

File sharing and document management
File request
Real-time collaboration
Task management
Version control
Audit trails and access control
Workspace management

File Sharing And Document Management

Easily share and organize financial documents, tax returns, and reports securely in one centralized location.

This eliminates the need for manual tracking and searching through numerous email attachments, ensuring that everyone has access to the latest versions of documents.

File Request

Avoid the annoyance of emailing clients to collect multiple files (an especially useful feature during tax season or audits!). Whether you need 10 documents or 100, you can collect them all via a single link that navigates to a unique, secure portal where clients can upload the documents you need. Files are checked off as they’re uploaded, so you and clients can easily see progress.

Real-Time Collaboration

Communicate and collaborate internally and externally in real time.

This feature eliminates delays and miscommunications associated with email threads.

Task Management

Create and assign tasks to clients.

Task reminders and notifications make it easy to convey clear expectations and deadlines, which improves accountability and timely completion of deliverables.

Version Control

Never again lose track of document versions!

Rest assured that everyone is working on the latest iteration of every document. This mitigates the risks of using outdated or incorrect information.

Audit Trails And Access Control

Automatically record and track all your accounting activities.

Glasscubes provides an audit trail for accountability and compliance purposes. Accountants can control access permissions to determine who can view, edit, or download specific documents.

Workspace Management

Organize your work with workspaces.

In Glasscubes you can create a workspace for each client and give access to only that client’s team and relevant members of your staff.

“Saving us hours of resource”

“Prior to using Glasscubes, our whole team was involved in contacting our clients multiple times a year to request their records. This was very time-consuming and was not as successful as we would have liked.

We started using Glasscubes this tax year and to date it has saved us around 288 hours of resource, allowing our staff to proceed with actual work. ”

—Sophie M, a manager in the accounting industry, via Capterra

Ready to change your document management system for the better? Request a free demo of Glasscubes today.

Efficient audit = happy staff

Wed, 17 Jan 2024 12:23:35 +0100

Can you risk losing one of your audit team?

Staff turnaround is at an all-time high in the accountancy profession.

In fact, we are currently going through a full-blown staffing shortage, with very few qualified, skilled, and experienced individuals able to fill the many roles available in the UK.

So, I ask again, can you afford to lose even one of your skilled staff members? Because you might not be able to get a replacement in today’s job market.

Yes, you could invest in a coffee machine for the office, bring in doughnuts on a Friday or offer other incentives to stay, but do they outweigh the frustration created by inefficiency?

Can a doughnut really make up for the hours wasted waiting on client emails and slow, clunky document management systems?

Your staff might appreciate the time saved by the coffee machine, but if they only use it to kill time, waiting for loading screens, is it worth it?

Inefficient technology in auditing is driving staff mad

A study by Sharp found that employees typically spend more time waiting for outdated technology to respond than they do on annual leave.

(If you’re a manager of people, that statistic is truly shocking).

It is estimated that up to 167 hours are lost just waiting for technology to operate properly, watching webpages load and printers heat up.

Just imagine how stressful and frustrating that must be for your staff – especially if they know how valuable their rare and sought-after skills are.

Some auditors find themselves spending an inordinate amount of time collecting and organising data rather than actually analysing the information contained within, a task that should ideally take a fraction of this time when you’re using efficient systems.

Then, just think about what happens if they accidentally input an error during manual data entry.

The most common consequence of inefficient tech is an increase in the risk of errors.

In a field where precision is paramount, these errors can have far-reaching consequences, including compliance issues and damaged client trust.

But aside from those risks, let’s come back to the frustration stemming from grappling with inefficient systems.

The effect of frustration on the auditor’s mind

When auditors are bogged down by tedious, manual processes, it diminishes their job satisfaction and leads to burnout.

Research indicates that 42 per cent of employees say they lose 15 to 30 minutes of their day to stress and frustration. Meanwhile, 34 per cent lose one hour or more.

The same study found that 54 per cent of employees missed one or two days due to stress, 31 per cent lost three to six days, and 15 per cent missed more than six days a year.

These stats should speak for themselves – if your audit processes are causing frustration and stress, they need to be fixed!

Glasscubes can help you with the digital transition , click here to find out more.

Dear CPA: Stop Asking For My Tax Return Information Through Email

Mon, 15 Jan 2024 12:24:04 +0100

As the leader of an accounting firm, how certain are you that you’ll never receive a letter like the following (which accurately reflects the sentiments of a real small business owner about his service provider’s accounting security and organizational capabilities)—or that none of your current clients harbor similar thoughts silently?

Dear Steve,

You’ve been my accountant for over five years now. In that time, I’ve watched your firm grow—securing new clients and adding staff members to keep up with the work.

While I’ve been proud of this growth because I respect you and the work you do for my business, it has also made apparent several issues I must bring to your attention because they are negatively impacting me as a client. I’m hoping we can remedy these issues as we go into the next tax season.

The Runaround With My Files

Let’s start with last year. You emailed me requesting a ton of sensitive financial information for my business—but so did three other people in your firm. Each team member asked for their own set of documents, which may or may not have been the same ones asked by others on their team.

What’s worse is that on multiple occasions I received emails asking for a document or piece of information I had already sent to either the requestor or someone else on their team. With each new email that landed in my inbox, I became more confused and frustrated at how much time I was wasting.

The lack of organization and clear way to send (or retrieve) files has eroded my trust in your firm’s attention to detail. In addition, the fact that your team was still requesting information and asking questions about my financials days before my returns were due made me question your firm’s ability to perform—with proper due diligence—the accounting work for which I’m paying.

At one point, I contemplated whether I should even respond to your team’s emails at all.

The only thing spurring me on was knowing filing deadlines were approaching. I knew I’d have to suffer through the headache to have my taxes completed and submitted on time to avoid any penalties.

My (In)secure Personal Tax Return Information

Beyond the runaround and inefficiency, the fact that we were still using email at all was also concerning. I consider myself fairly technically savvy and informed about cybersecurity issues. I realize my business is small and may not be as big a target as Fortune 500 companies, but I’ve heard enough horror stories of other small businesses being caught unaware and unprepared when a cybersecurity event occurred.

Even if I ignore the common security issues such as malware and phishing attempts, there’s nothing to stop a team member from forwarding my email to someone outside the company—whether on accident or on purpose.

A Questionable Checklist

Lastly—and this is a small gripe in comparison to the above items but it’s still one that I find frustrating—every year, you send me a checklist that I must keep up with myself. This wouldn’t be an issue if the list was five items long and I could send everything in one day.

However, you know that I must send dozens of financial documents to you, and it can take time to collect the information needed for those documents. So I send you items over several weeks.

Add to that the issue I already stated about dealing with multiple parties and I wind up wasting a considerable amount of time on a process that I know can be automated. I’ve seen it done with my mortgage documents when buying a house, along with other areas of my business and personal lives.

Next Steps

Overall, I want to make it clear that I would like to continue working with you, Steve. However, the lack of security and efficiency, especially considering that your firm isn’t exactly the cheapest, is pushing me to consider other accounting firms—ones that have more streamlined processes that remove burdens from me instead of adding them.

Moving forward, I need to know what guarantees you will provide for implementing a technology or process for gathering client tax information securely and keeping both your team and clients in the loop about the documents I’ve shared.

Looking forward to an amicable solution quickly.

Best,
John
ABC Service Company

Need an email alternative that improves not only communication but also productivity? Schedule a free demo of Glasscubes today.

Why Email Could Be Putting Your Accounting Firm’s Security and Reputation At Risk

The rise in cybercrimes like phishing have caused accounting security to become an increasing concern among consumers and business owners. Yet every tax season, accounting firms send countless emails to their clients requesting personal tax return information. But this approach isn’t secure or efficient enough for the modern-day client.

As John called out in his letter to his accounting firm, using email to gather client information is not secure. The traditional workflow in accounting consists of five steps:

Initial contact and document request
Document submission and review
Clarification and additional information requests
Reporting and feedback
Finalization and approval

Each of these steps has mishaps when using email, such as emails being ignored altogether, mixed email threads causing confusion, and feedback in email becoming fragmented and hard to track.

You can learn about these mishaps in greater depth in this article we wrote on the subject. But the main takeaway is this:

Your firm must find a way to ease the burden of information collection and make the process more secure if it hopes to continue doing business well into the future.

Make a Change Now With Glasscubes

Whether you have a large or small accounting firm, Glasscubes is the perfect collaboration solution for keeping your clients and staff on the same secure page.

You can easily share and organize financial documents, tax returns, and reports securely in one centralized location. This eliminates the need for manual tracking and searching through numerous email attachments, ensuring that everyone has access to the latest versions of documents.

In addition, you can request files by sending a single link that navigates to a unique, secure portal where clients can upload the documents you need. Files are checked off as they’re uploaded, so you and clients can easily see progress. Accountants find this particular feature to be a life saver.

And for keeping client projects separate but on the same platform, create unlimited, customizable workspaces. Team members can share resources and communicate with one another in their specific workspace, and you can access them all for easy oversight.

“[Glasscubes is] saving us hours of resource”

“Prior to using Glasscubes, our whole team was involved in contacting our clients multiple times a year to request their records. This was very time-consuming and was not as successful as we would have liked. We started using Glasscubes this tax year and to date it has saved us around 288 hours of resource, allowing our staff to proceed with actual work. Will definitely be using again in future years.”

—Sophie M, a manager in the accounting industry, via Capterra

Sophie and many others use Glasscubes to increase accounting security and make collaboration easier. It’s their go-to secure client information platform.

Ready to ditch email? See how our accounting collaboration software creates a smooth, easy workflow minus the headache. Request a free demo of Glasscubes today.

Still Doing Accounting Collaboration Like This? Time To Change

Wed, 10 Jan 2024 11:49:26 +0100

Matt Stratman, president of United Tax, knew his team had a communication problem—and he even knew the culprit: email.

For a long time he’d been noticing a recurring challenge across the accountancy with lengthy email threads, fragmented document exchanges, and lost messages. Eventually, he knew the time had come to overhaul the firm’s primary communication system.

“For us, transitioning to a centralized client portal was a pivotal shift to manage client communication and documents,” Stratman explains. The collaboration portal now serves as a comprehensive hub for his team, housing all client-related interactions, correspondence, and financial documents.

The reason for its effectiveness is simple: Client collaboration software gives every member of the team access to a unified client file. “This improves communication, enabling coherent exchanges while granting the ability to review past discussions and interactions at any given point.”

Compared to email, “Ultimately, we found that this centralized approach delivers a superior client experience and streamlines internal operations, allowing us to do better work for our clients,” says Stratman.

When industry professionals search for accounting client collaboration software, Glasscubes always makes the shortlist. See why with a free demo.

Accounting Collaboration: Why Email Doesn’t Work

If your accounting firm is experiencing the same challenges as those of United Tax, it’s time (probably past time!) to investigate a fix. To understand why accounting collaboration software is superior to email, let’s first take a look at the problems email introduces in the traditional accounting collaboration workflow.

Below is an explanation of the workflow as described by a number of accounting professionals:

1: Initial Contact And Document Request

Accountant and client collaboration usually begins with the accountant reaching out to the client via email to request specific financial documents or information.

“I usually start by sending an introductory email to the client outlining the services I'll be providing and what information I need from them,” says Sherman Standberry, licensed CPA and managing partner of My CPA Coach.

Julia Kelly, managing partner of Rigits, says this approach aligns with her firm’s process with a few exceptions. “We initiate contact with clients via email to request the necessary financial documents. However, we include a link to our secure portal in the email, which guides them on where and how to upload their documents there instead of attaching it to the email.”

Kelly adds that if it's a new client, someone on her team will also request a phone call with the client and have them upload the documents while speaking with the team member in real time. “We've found that emails requesting documents can often get ignored, especially with clients we haven’t been through this with before.”

While email allows for easy initial contact, drawbacks arise in the form of potential delays and miscommunication. Clients may misinterpret document requirements or overlook important instructions, leading to incomplete or incorrect submissions.

2: Document Submission And Review

“The client then emails me the necessary financial documents,” says Standberry. “This could include a variety of different document types, including bank statements, invoices, receipts, tax forms, etc.”

This step can be time-consuming and error-prone due to the need to manually track and organize multiple attachments from different email threads. It's also challenging to keep documents up-to-date and ensure that everyone has the latest versions, leading to potential version control issues.

3: Clarification And Additional Information

During the review process, accountants often need to seek clarification or request additional information from clients. They send follow-up emails, but the back-and-forth nature of email communication can cause delays and confusion.

Clear instructions can be easily overlooked in lengthy email threads, further complicating the process and potentially impacting the accuracy and timeliness of the work.

For the team at Page One Formula, “Our workflow involves categorizing emails by client and project, setting up automatic filters to manage incoming documents, and scheduling regular check-ins via email to ensure all financial information is up-to-date and accurate.”

4: Reporting And Feedback

After reviewing the documents and completing the necessary calculations and analyses, accountants prepare reports or financial statements for the client. These documents are then emailed to the client for review and feedback.

However, email feedback can be fragmented and hard to track, leading to potential miscommunication or oversight of client concerns or changes. This can create additional rounds of revision and prolong the reporting process.

5: Finalization And Approval

Once feedback and revisions are addressed, the accountant finalizes the documents and sends them to the client for approval.

This step can be cumbersome through email, as there is no centralized system to keep track of document versions. This increases the risk of outdated versions being mistakenly used or important updates being missed, potentially leading to errors and resulting in delays in obtaining client approval.

Email Works Against Collaboration…

Dan Hanley, director at Octane Accountants, says his firm once used email when collaborating with clients. Though his team has since moved on to a more advanced tool, he recalls the troubles email posed.

“When working exclusively via email, our workflow was for the most part limited, transactional, and slow, especially with clients whose communication preferences were for non-email tools,” Hanley explains. “We'd request records, they'd respond in part or in full, and we'd reply with any necessary clarification or detail required to obtain outstanding documents.”

When the work finally began, Hanley notes that communication would continue in this rigid manner. “Both parties would pose their respective questions in email, back and forth. This would culminate, eventually, in the completion of said work in bit-part fashion.

“Far from efficient or enlightening for our clients or us.”

Overall, Hanley says the process was “extremely cumbersome” and ultimately neither party was able to extract any lasting value.

“There was no room for free-flowing exchange of information or conversation, let alone any time remaining within the customer's budget for us to consult with them properly. Not to mention how email isn't a secure method of communication, and so we and our customers alike were very much in the market for a resolution.”

Need a secure accounting collaboration solution that automates file requests and follow-ups? Request a free demo of Glasscubes.

Accounting Collaboration: How To Modernize Your Approach

It’s clear from the above description that the traditional workflow is heavily reliant on an outdated, unreliable tool. Why not take advantage of technological advancements in the form of cloud-based platforms, real-time communication channels, and automation tools to reduce frustration and work more productively?

Hanley’s team did. Eventually, they looked for a tool that would help them prioritize the value they could offer clients when not bogged down by inefficiencies.

“We needed a solution that could enable us to communicate fluidly at all times and reduce time spent on the transactional elements of accountant and client collaboration—namely by automating the process of document request, upload, and follow ups.”

The team found accounting client collaboration software that addressed their needs. “It not only checked off our requirements, but also showcased that it was secure and could move with the times.”

Client collaboration software that is made for accountants offers a number of features your firm can use to its advantage:

File sharing and document management
File request
Real-time collaboration
Task management
Version control
Audit trails and access control
Workspace management

Glasscubes is an accounting collaboration portal that offers these features and more.

File Sharing And Document Management

Accountants can easily share and organize financial documents, tax returns, and reports securely in one centralized location. This eliminates the need for manual tracking and searching through numerous email attachments, ensuring that everyone has access to the latest versions of documents.

File Request

In Glasscubes, you can avoid the annoyance of emailing clients to collect multiple files, which is especially useful during tax season or during an audit. Whether it’s 10 or 100, you can send a single link that navigates to a unique, secure portal where clients can upload the documents you need. Files are checked off as they’re uploaded, so you can and clients can easily see progress.

Real-Time Collaboration

Glasscubes allows for instant communication and collaboration between accountants and clients. This feature enables real-time discussions, feedback, and clarification, eliminating delays and miscommunication associated with email threads.

Task Management

Accountants can create and assign tasks to clients, ensuring clear expectations and deadlines. Task reminders and notifications help keep everyone on track, improving accountability and timely completion of deliverables.

Version Control

With Glasscubes, accountants can keep track of document versions, ensuring that everyone is working on the latest iteration. This mitigates the risks of using outdated or incorrect information.

Audit Trails And Access Control

Glasscubes records and tracks all activities within the platform, providing an audit trail for accountability and compliance purposes. Accountants can control access permissions, determining who can view, edit, or download specific documents.

Workspace Management

In Glasscubes, you can create an unlimited number of workspaces, each with a unique subset of users. For example, you can create a workspace for each client and give access to only that client’s team and relevant members of your staff.

By leveraging these features, you can streamline your collaboration processes, increase efficiency, reduce errors, improve communication, and enhance client satisfaction.

“[Glasscubes is] saving us hours of resource”

“Prior to using Glasscubes, our whole team was involved in contacting our clients multiple times a year to request their records. This was very time-consuming and was not as successful as we would have liked. We started using Glasscubes this tax year and to date it has saved us around 288 hours of resource, allowing our staff to proceed with actual work. Will definitely be using again in future years.”

—Sophie M, a manager in the accounting industry, via Capterra

Ready to ditch email? See how our accounting collaboration software creates a smooth, easy workflow minus the headache. Request a free demo of Glasscubes today.

Time is money: Are you wasting yours?

Thu, 04 Jan 2024 17:22:45 +0100

The efficiency of your processes, (or the lack thereof), has a big impact on the profitability of your firm.

This is especially true when it comes to filing personal tax returns for your clients, which require structured and well-managed information-gathering methods.

When information-gathering practices are disjointed, confused or downright chaotic, it has detrimental effects on your firm’s bottom line as well as the morale of your staff.

Inefficiency is a silent thief, lurking in the shadows of your day-to-day operations.

Unfortunately, it often goes unnoticed until the damage is done.

The hidden cost of inefficiency

Information-gathering inefficiency for personal tax returns is a drain on your firm’s most valuable resources:

• Time

• Productivity

• Staff morale

Time wasted in cumbersome processes is time stolen from opportunities for growth and innovation.

Plus, client dissatisfaction increases when a firm is seen as sluggish or error-prone – a reputation that spreads fast and is hard to get rid of.

Reduced productivity is the second victim of inefficiency, leading to a demoralised workforce (victim number three), weighed down by redundant tasks and archaic systems.

Even worse, if tax returns are submitted late or with errors, you could start losing valuable clients to your competitors.

The statistics say it all…

Statistical analysis paints a stark picture of the consequences of inefficiency.

90 per cent of all spreadsheet errors are the result of manual (i.e., antiquated, out of touch, outdated, inefficient) data entry.

According to Prof. Raymond R. Panko, when manually inputting a data entry into simple spreadsheets and documents, the probability of a human error was between 18 and 40 per cent.

These are shocking realities that no longer need to be a problem for your firm – if you adopt the right technologies.

How to recognise inefficiency in your firm

Recognition is the first step towards resolution, but it requires a critical eye and an honest assessment of your firm’s processes.

Ask yourself and your team two questions:

Are there signs of inefficiency in your processes?
Are employees spending an inordinate amount of time on tasks that seem trivial yet are necessary?

If the answer to either of these questions is “yes”, you need a solution…

The Glasscubes solution

While the focus of this article is to recognise the problem of inefficiency, it is worth noting that solutions do exist.

For more information on Glasscubes and how we can help you personal tax process please click here.

Accounting Firm Automation: 10 Examples + 4 Case Studies

Wed, 03 Jan 2024 14:20:22 +0100

Today’s accountants are expected to do much more than just bookkeeping and number crunching. They must provide strategic insights, analyze financial data, and make informed decisions for their organizations and their clients.

To accomplish these goals, many professionals are turning to accounting firm automation to streamline their daily tasks, allowing them to focus on higher-level financial management activities.

What is accounting automation?

Accounting automation refers to the use of software and technologies, such as artificial intelligence (AI), to streamline accounting processes. Using such technologies enables you to automate tasks like bookkeeping, data entry, document analysis, and even certain communication activities.

By implementing accounting automation, you can improve efficiency, reduce errors, and free up time for your accountants to focus on more strategic, value-added activities that require professional expertise and judgment.

This article explores various examples of accounting automation, including automated data entry, real-time financial reporting, client collaboration, and more. It also covers a few real-world case studies of firms who’ve implemented automation, including the accounting automation tools they use in practice.

By exploring these examples, accountants can gain insights into how automation can transform their workflows and boost productivity.

Glasscubes always makes the shortlist of best accounting automation tools. See why with a free demo.

10 Accounting Firm Automation Examples

1. Data Entry

Automating data entry tasks involves using OCR technology to extract data from invoices, receipts, and other financial documents.

Benefits: Reduces processing time and errors as compared to manual data entry

2. Bill Payment

Automating bill payment processes involves using software to streamline invoice processing and payment workflows. This includes electronic invoice receipt, automated approval processes, and scheduled payment processing.

Benefits: Increased efficiency and faster processing times

3. Bank Account Reconciliation

Automation streamlines the bank reconciliation process—including checking and savings accounts—by automatically matching transactions from bank statements with transactions in accounting software.

Benefits: Improved data accuracy and reduced processing time

4. Credit Card Reconciliation

Automation streamlines the process of matching credit card transactions with accounting software transactions. This involves integrating credit card statements directly into the accounting software and automatically matching individual transactions with corresponding entries in the system.

The automation software compares the credit card transactions with existing entries in the accounting system, flagging any discrepancies or missing transactions for further investigation.

Benefits: Reduces the need for manual data entry, eliminating the risk of human error and ensuring data accuracy; also saves time by accelerating the reconciliation process

5. Client Collaboration

Client collaboration automation utilizes technology and software tools to streamline communication and enhance working relationships with clients. Automated platforms such as client portals typically provide an array of features such as project management, file sharing, document management, information and approval workflows, and more.

Benefits: Allows real-time communication, eliminates confusion, and enhances productivity. Additionally, if the platform includes automated feedback collection and satisfaction measurement tools, accounting firms can gather valuable insights and continuously improve client experiences.

Get the all-in-one collaboration tool that enables accounting firm automation, enhanced client communication, and more. Request a free demo of Glasscubes today.

6. Expense Management

Using software to automate expense management involves simplifying the process of tracking, submitting, and reimbursing employee expenses. That includes collecting receipts electronically; automating approval processes for quicker turnarounds; and scheduling payments—so companies can make sure funds are available in their accounts when invoices come due.

Benefits: Increased efficiency and improved compliance

7. Reporting

Automated reporting in accounting refers to the process of generating financial reports automatically and in real-time. By leveraging accounting software and integrations with various data sources, this reporting eliminates the need for manual data entry and repetitive report creation.

Benefits: Improved accuracy and significant time savings; automation can generate reports in minutes

8. Tax Compliance

Automation can be used to simplify tax calculations, ensure compliance with established rules and regulations, and facilitate accurate financial reporting. It often includes features like built-in tax rules that are automatically updated as the legislative environment changes—as well as real-time reporting capabilities so managers know what's happening across their entire organization at any given moment.

Benefits: More consistent compliance and reporting, and greater compliance visibility

9. Reimbursement

Automating reimbursement involves using software to streamline the process of repaying employees for company-related purchases. This includes electronic receipt collection, automated approval processes, and scheduled payment processing.

Benefits: Increased efficiency, improved compliance, and faster processing times

10. Payroll

Payroll automation streamlines payroll management, eliminating manual calculations and administrative tasks. It saves time by automating wage, deduction, and tax calculations based on predefined rules. This reduces the risk of human error and ensures accurate employee payments while maintaining compliance with tax regulations.

Payroll software also facilitates efficient data management, securely storing employee information and enabling quick updates to records. Additionally, self-service portals provide employees with access to their payroll details, enhancing engagement and satisfaction.

Benefits: Maximizes efficiency, improves accuracy, and enhances compliance

4 Case Studies Of Accounting Firm Automation

1. Transforming Multiple Business Processes At Johnston Carmichael

In the past, the team at Johnston Carmichael made use of a client portal solution that was “very basic, clunky, and not intuitive for users,” according to Yvonne Irwin, the company’s director of client services and projects.

As a result, less than 10% of their client base used the portal—instead, they (and internal team members) used workarounds like email, which “often led to confusion and frustration.”

The team searched the market for a solution that could streamline their processes and improve client relations through automation and other features such as electronic document approvals, bulk file requests, audit trails, and so on. They eventually settled on Glasscubes, an all-in-one collaboration solution equipped with all these features and more.

“When we embarked on the selection process for a new client portal, we had a long list of requirements. Providing basic sharing of information securely was a given, but we also wanted to enhance client service and improve our internal processes to support the digitalisation of our services,” says Irwin. “The project team was unanimous in the decision to select Glasscubes as our partner.”

Since the launch, the team has seen an increase in the uptake of both clients and staff. Irwin says Glasscubes has saved the firm time, is easy to use, and has been especially successful for their audit business line and their clients. “Glasscubes is a feature-rich product that allows us to interact with our clients in a better way.”

Check out the full case study on Johnston Carmichael here.

“Glasscubes is a feature-rich product that allows us to interact with our clients in a better way.”

2. Automating Customer Success At Octane Accountants

“In March of this year, we transitioned from a CRM solution to an automated relationship management platform called Accountancy Manager,” says Dan Hanley, director at Octane Accountants. “It’s helped our firm automate our customer success and account management functions.”

Hanley says the switch provided many benefits for the firm, the stand outs being the customer experience enhancements and central, shared hub dynamic the solution provided.

“Within the accounting industry, there's forever been a clunky, manual, disconnected feel to agent/customer relations with regard to viewing communication archives, sharing important information, and providing deadline updates,” Hanley explains.

The new solution has “revolutionized” this previously laborious aspect of customer service through its automation features. Hanley notes that this has saved his team and customers lots of time while also keeping them reliably informed of their legislative obligations.

3. Improving Data Entry And Compliance Monitoring At Page One Formula

Ian Rodda, CFO at Page One Formula, says her team has automated critical processes such as data entry, report preparation, and compliance monitoring. “These areas, which were previously laborious and time-consuming, are now handled efficiently by software.”

The tools this team has implemented to achieve automation include Xero for bookkeeping, ADP for payroll automation, and QuickBooks for a number of other financial processes. Rodda says these tools have become “integral” in enhancing the team’s operational efficiency.

“Overall, automation has significantly improved our business operations, leading to faster turnaround times and error reduction,” says Rodda. “This has deepened trust with our clients, fostering stronger relationships and enhancing client satisfaction through prompt and accurate services.”

4. Fast-Tracking Reconciliation At Rigits

“One of the biggest challenges our firm has is extracting transaction information from clients,” says Julia Kelly, managing partner of Rigits. “Unfortunately, clients often send information on their timetable, not ours. This results in missed deadlines and incomplete financials.”

To overcome this challenge, the team implemented a tool called Uncat, which automates the collection of transaction information needed from clients and integrates with QuickBooks Online to get instant answers from clients on expenses or income that Kelly’s team doesn’t know how to categorize.

The old process worked like this:

Gather uncategorized transactions in QuickBooks.
Download the transactions in spreadsheet format.
Email the spreadsheet to the client.
Remind the client repeatedly until the team receives the requested answers.

“Most clients wouldn’t answer emails that weren’t urgent or customer-facing, so these kinds of requests were often moved to the bottom of the client's priority list,” Kelly explains.

Now with Uncat, all transactions that are moved into the Uncategorized register in QuickBooks get automatically synced to Uncat. The client receives a magic link via text (no sign-in required) where they can see the date, amount, and vendor for the transaction in question.

The client can choose which account to move the transaction into and leave a note if needed. Once this is done, the transaction is then synced back to QuickBooks to the proper account with the client notes. “This tool has been a game-changer for our firm and significantly cut back on the amount of emails and reminders needed between our firm and our clients.”

Automate Document Collection & Improve Collaboration With Glasscubes

Time is in short supply come tax time. So dealing with unresponsive clients can quickly lead to missed deadlines. You need a way to not only collect financial documents quickly but also help you better collaborate with your clients.

Glasscubes helps in both areas.

First, it automates file requests. Send a link to your clients with all the files you need and have our system automatically follow up on a schedule of your choosing if clients don’t upload documents in a timely manner.

Glasscubes makes everything about file collection easy. You can:

Send files quickly and easily. Upload a file to Glasscubes and send a link to clients, suppliers, or other teammates to download instantly.
Ditch the endless emails. When you send out file requests, Glasscubes will email clients for you on a schedule you set if they don’t upload them in a timely manner.
Improve clients’ response times. Clients don’t even have to log in to their unique file request portal unless you require it, so they’re more likely to use it.
See all conversations in context. Chat about individual files with clients within the file request portal. You’ll always have that conversation to refer back to in the future.

“Very useful information-gathering tool”

“Really enjoying using Glasscubes as an information-gathering tool. We are a firm of accountants, and this clever but simple software is saving us time and helping us automate [while maintaining a] personal touch and branding.”

—Alison Habebi via Trustpilot

But collecting information isn’t all Glasscubes can do. Enable efficient team collaboration with a number of valuable features:

Store and share files in a secure location, complete with automatic version control. You can even create approval workflows and view clear audit trails of user actions.
Collect, process, and approve information through customisable, automated forms and workflows that include user assignees, assignee follow-ups, and completion alerts.
Assign and manage tasks for different members of the team, and track them to completion.
Create customised workspaces for each project team in your portfolio. Team members can share resources and communicate with one another in their specific workspace, and you can access them all for easy oversight.

Ready to start enjoying the benefits of accounting firm automation? Request a free demo of Glasscubes today.

The most common accounting errors and how they happen

Thu, 14 Dec 2023 12:33:36 +0100

Even the most minor error in accounting can lead to major financial discrepancies for your clients and mean a damaged reputation for you and your firm.

However, many accountants still suffer from the same set of errors in their work over and over again, meaning that they are repeatedly putting their clients at risk.

As we will see, this doesn’t have to be the case and many firms are taking a stand against these challenges through the integration of the correct technology.

Some of the most common accounting mistakes

Remember, these errors could be rectified with the correct use of technology and a rejection of the old, outdated, and traditional forms of information and data-gathering.

Error of original entry: 27 per cent of accounting mistakes are made because of incorrect data entry. This occurs when an incorrect amount is entered into the accounting system. It could be as minor as missing a zero on a balance sheet but may still have drastic effects on the overall calculation result. Such an error can throw off entire financial statements, leading to misinformed decisions.
Error of duplication: Duplication errors happen when a transaction is recorded more than once. This can inflate revenue or expenses, affecting the financial health portrayal of a business as well as meaning that the financial calculations on final reports are completely incorrect.
Error of omission: When transactions are not recorded at all, it leads to incomplete financial records, potentially resulting in underreported income or expenses. This is particularly problematic in cases where HM Revenue & Customs (HMRC) recognises the error and assumes it is a deliberate omission rather than accidental.

Traditional vs digital solutions to these problems

Where traditional methods are used to address these challenges there is a significant risk of further errors.

This is because human input, by nature, is particularly prone to error.

In essence, that is what we are arguing here – replace the human input with a digital solution to reduce the risk of mistakes being made.

The digital solution of information-gathering technology is a far more efficient and trusted method of tackling these issues.

Digital information-gathering software offers:

Data centralisation: By centralising data storage, these technologies reduce the risk of omissions and duplications. A single, unified platform for all financial transactions ensures consistency and completeness of data.
Automated data entry and validation: Automation features minimise human errors in data entry. Software can automatically validate figures against predefined criteria, reducing the likelihood of original entry errors.
Real-time reporting and analytics: Digital solutions offer real-time reporting, helping accountants spot anomalies immediately. This timely detection is crucial in preventing the accumulation and compounding of errors.
Enhanced audit trails: With comprehensive audit trails, every entry and amendment is tracked. This visibility is invaluable in identifying and correcting entry reversal errors and ensuring accountability.
Integration with accounting standards: Modern software often comes integrated with updated accounting standards, guiding correct categorisation and treatment of transactions, thus mitigating errors of principle.
User access controls: By controlling who can enter and edit data, the risk of commission errors is significantly reduced. Role-based access ensures that only qualified personnel handle specific accounting tasks.
Error detection and compensating error identification: Advanced analytics can identify patterns indicative of compensating errors. By highlighting these anomalies, software aids in uncovering hidden mistakes.

The future of accounting: Digital and cloud-based information-gathering technology

Cloud-based solutions offer scalability, flexibility, and accessibility, which are essential for accountants looking to get ahead of the competition.

These technologies streamline accounting processes and provide a layer of security and compliance.

The integration of information-gathering technologies in accounting practices offers a solution to the challenge of maintaining accuracy and efficiency.

By leveraging such technologies, accountants can transcend traditional limitations, paving the way for more accurate, efficient, and insightful financial management.

For more information on Glasscubes and how we can help you personal tax process please click here.

How Stockholm Syndrome is killing your personal tax processes

Wed, 13 Dec 2023 19:55:50 +0100

Let’s face it, the January personal tax return season is upon us, which means it is time for accountants to experience their yearly Stockholm Syndrome.

Stockholm Syndrome – where the hostage feels sympathy and connection with their captor – is a condition with which many accountants suffer, but few realise it.

And their captor in question? Emails.

We have all become accustomed to emails and the quirks and challenges they present, but did you realise there were alternatives?

You don’t need to be at the behest of email for your data/information-gathering processes anymore; you don’t need to suffer from email Stockholm Syndrome this tax season.

Are you a hostage to your emails?

For whatever reason, it’s a challenge that many professionals, (not just accountants), overlook time and time again.

They have become used to using email despite it killing their productivity, so they simply fail to recognise that there is a problem or that there’s an alternative.

Many have developed ways to get around the problem – usually, a solution that takes a lot of time and effort from their team or risks mistakes every time it is used.

There are three questions to ask yourself when reconsidering your email usage:

Are you sending multiple emails to transfer documents because the file size restrictions prevent one smooth transaction?

Do you ever find yourself misplacing or straight-up losing emails in your inbox?

Are you frantically trying to organise your emails into folders to stay on top of client information?

If the answer to those questions is “yes,” you could be a hostage to your emails.

Why is this a problem?

Email is a slow process that has embedded into the procedures of accountancy firms like a weed.

It creates a slow personal tax process due to the nature of the information-gathering method being used in which numerous emails need to be used just to transfer a minor document.

By communicating with clients and receiving their data over email you are slowing your team down, reducing their overall efficiency and putting their information at risk of security breaches.

Alternative technologies to email for your personal tax processes

There are solutions to the problems that you face but the fundamental message is that information-gathering tools that reduce your reliance on email are the key route to streamlining your personal tax processes.

Embracing technology, rather than maintaining traditional systems, could improve your overall error rate, your client satisfaction, and the efficiency of your processes.

In fact, 54 per cent of accountants say technology helps provide faster service to their clients, which is a major advantage against your competition.

Fundamentally, the creation of a high-quality personal tax process is your key to making the January tax season much easier on your team.

For more information on Glasscubes and how we can help you personal tax process please click here.

Don’t let your team get snowed under this Christmas

Mon, 11 Dec 2023 12:31:54 +0100

As December approaches, the looming increase in workload threatens to overwhelm you and your team, risking errors and draining morale.

The added pressure of the short December month and the upcoming ITSA deadline put tremendous strain on your tax and accounts team to get their work done quickly and effectively.

But when things go wrong (and they sometimes do) the office can turn into a seriously negative environment for your staff.

Why morale matters

According to a survey conducted by Peldon Rose, 49 per cent of workers said an increased workload running up to Christmas Day was the main reason behind their festive anxiety.

Over 60 per cent of employees are mentally distracted by Christmas as early as mid-December, according to Peakon.

There are also 50 per cent more sick days taken in December than in January.

On top of this, research shows that productivity is generally lower in December.

This effectively creates the perfect storm:

High anxiety
Distraction
More sick days
Low productivity

While this might not seem much of an issue, the research suggests that happiness and an absence of stress are major factors in a productive workforce.

Why a happy team is a better team

A 2019 study undertaken by Oxford University found that workers are 13 per cent more productive when they are happy. The University of Warwick said they’re 12 per cent more productive.

Higher stress was also associated with lower productivity in a 2021 study performed by Kansas Journal of Medicine.

In summary, many firms could be getting hit by lower morale, lower productivity and higher anxiety during the December period which is likely to have significant effects on their team’s overall productivity.

The message is, therefore, clear, a happy team is the route to easing the December workload – or at least it’s a good start!

How to increase morale by streamlining workflow

One way to improve team morale is to reduce the stress associated with work and create a more streamlined and satisfying work process.

A quick way to reduce the number of employees taking time off and their overall morale is to increase job satisfaction, which impacts employees’ psychological well-being including their sense of identity, health, overall happiness.

Upcounsel says that increased job satisfaction creates harder working employees who take fewer sick days than their less satisfied counterparts.

Dr. Brent D. Rosso, and his colleagues discovered that ‘meaning’ in your job increases motivation, engagement, career development, individual performance, and fulfilment, all while decreasing absenteeism, stress, and turn-over.

So, how do we create meaning at work?

Perhaps a good first step would be to increase the amount of work getting completed through an improved and more organised workflow.

Afterall, a team with a strong sense of cohesion and an organised workflow is like a well-oiled machine, happier and healthier.

A quick way to do this would be to improve the information-gathering processes you are using so that the client documents you’re handling are organised and exactly where you need them to be.

In this case, an easy-to-implement digital tool like Glasscubes may prove to be a huge gesture of care to your team.

To try an information-gathering tool for free, consider Glasscubes.

Why your accounting audit process is so inefficient

Tue, 28 Nov 2023 10:55:22 +0100

To remain compliant with ISA regulations, audits are by necessity a long and complex process.

This is particularly evident during the planning stage, which demands careful preparation and plenty of discussions with the client for compliance assurance and to make sure the audit is carried out correctly.During audit preparation, documents tend to accumulate, eventually snowballing into a mountain of paperwork that requires sorting before the actual audit commences.

For smaller companies, the audit process can indeed be streamlined, and many firms concentrate on these for their ease and simplicity.

However, limiting oneself to smaller entities – for efficiency's sake – also limits the firm to relatively mundane, low-revenue tasks.When looking at the efficiency of firms, we’ve found that traditional processes hold back audit productivity far more than up-to-date methods and digital solutions.

The problem you face

Many firms have simply accepted a sluggish audit process as part of the job.

The issue doesn’t stem from your team's ineffectiveness, but rather from a limited awareness of alternative options.

Senior management teams simply don’t realise that the audit process can be made simpler and more streamlined.

Simply put, a lack of information-gathering technology and digital document management is limiting the size and number of audits you can handle at any one time.

Transitioning to cloud-based processes, therefore, isn't just about adopting new tools in this case.

It represents a complete overhaul of the audit methodology and a significant boost in overall efficiency.

Can audits be more efficient?

Yes, absolutely.

Audits can be quicker, more streamlined, and less burdensome to complete if the audit process is being helped by a real-time reporting system and a document management aid.

The core issue in your struggle with audits is that traditional methods lack clarity but with a digital information-gathering tool this lack of visibility is no longer the case.

Relying on outdated technology is no longer an option for firms who wish to remain relevant in the digital age so it’s essential that firms explore solutions to meet their needs.

Glasscubes can help you with the digital transition , click here to find out more.

59 per cent of accountants have joined the cloud - Are you being left behind?

Thu, 23 Nov 2023 16:02:54 +0100

We get it: digital solutions can be scary.

However, a recent study* revealed that 59 per cent of accountants have embraced the cloud and are actively exploring automation solutions.

That means a staggering 49 per cent are being left behind and will not reap the benefits of the digital transformation.

These figures represent a move away from tradition, away from security and from what you have always known about your profession.

You might say: “Well, my firm is doing just fine without fancy new software. What’s the big deal?”But you are probably overlooking the price to be paid for not embracing technology.We aren’t just talking about the missed opportunities for profit here. There really are costs to not embracing technology.

If you can’t beat them, join them…

According to some studies, a staggering 89 per cent of companies have adopted or are planning to adopt a digital-first strategy.

This shift should tell you a lot about the serious nature of the issue and about how your competitors are reacting.How do you expect to compete with a firm that has embraced technology to the full and is reaping the benefits?

The competition will no longer experience the associated costs of manual, human processes that you continue to experience and struggle with.

Firms resisting the digital transformation are going to start experiencing the hidden costs soon enough.

Hidden Costs

Lost opportunities

The cost of missed opportunities is already clear to see when clients go to bigger firms with higher levels of IT and technology integration.

In addition, 56 per cent of CEOs acknowledge that digital improvements have directly boosted revenue through opportunities that were previously unavailable to them.

Digital tools offer enhanced data analytics, real-time reporting, and improved client engagement – which are currently unavailable to you or your team.

These advantages could be pivotal in identifying and capitalising on new market opportunities but currently serve to hold you back and will continue to do so if you fail to embrace technology

Inefficiencies and reduced productivity

The ‘Burroughs Adding Machine’ was introduced in the late 1800s and revolutionised the accounting profession. It removed the inefficiency of using an abacus or mental arithmetic.

In 1978 the first spreadsheet system was introduced, bringing accountancy onto the computer screen. This removed the inefficiency of written data entry and employing dedicated bookkeepers.

Traditional accounting methods were once the only way for firms to operate – but those who failed to embrace these new technologies quickly went out of business.

The same thing is happening now and the technology in question is digital and increasingly based in the cloud.

Just like the innovations mentioned above, digital tools streamline processes, reduce manual labour, and minimise errors.

Of course, this leads to increased efficiency and productivity, which results in more billable hours and greater time to focus on your practice.

The market is increasingly dominated by firms that leverage technology for better service delivery and streamlined workflows. Without digital transformation, accountancy firms risk falling behind and losing their competitive edge in an industry that is rapidly evolving.

The cost of catching up

The pandemic has accelerated the digital shift, with four in 10 companies hiring IT or technical staff since 2020.

This trend is set to continue, with two-thirds of businesses expecting to hire more IT or tech roles.

For firms that have delayed their digital transformation, the cost of catching up – both in terms of financial investment and time spent on IT – can be substantial. But, when compared with a digital solution, the IT expenses don’t make sense.

Why pay for an outsourced IT firm – or even your own IT department – when cloud-based, automated solutions could perform the same process?

Embracing the inevitable

The hidden costs of shunning digital transformations in accountancy are significant.

With 87 per cent of senior business leaders considering digitalisation a priority, it's clear that the shift towards digital is inevitable.

It's time for accountancy firms to embrace digital tools and strategies, not just to stay relevant, but to thrive in the digital age. As a result, you might as well be on the digital journey too.

The choice is stark: adapt or fall behind.

Glasscubes can help you with the digital transition , click here to find out more.

* Study can be found here.

Personal Tax simplified: The revolutionary impact of automation

Tue, 14 Nov 2023 15:41:02 +0100

Do you ever feel overwhelmed by Personal Tax tasks?

It's common to see client documents vanish into the depths of your inbox when using email, which means you might miss something important.

Plus, a disconnected Personal Tax process is probably leaving you a bit lost about your team's workflow too.

Gathering all the necessary documents and information from clients often feels like a relentless race against time and chasing them is impacting your efficiency.

If this issue isn't addressed, it can lead to significant stress, missed opportunities, and concerns about the accuracy of your tax returns.

It's also worth considering that your team might be quietly grappling with these challenges themselves, which could be affecting their morale and overall productivity.

How to identify the bottlenecks in your workflow

The issues you face, often start with a lack of urgency from clients in submitting their tax documents.

We all have experience chasing clients for their documents, time and again, feeling powerless and risking making a nuisance of ourselves by bombarding them with emails.

The sluggishness from clients not only delays the entire process but also, ironically, jeopardises the timing and quality of the service you provide to them.

You find that, rather than being able to analyse information and quickly get it submitted to HM Revenue & Customs (HMRC), you are continually chasing clients and trying to put together piecemeal information.

These delays lead to rushed submissions, which might overlook potential tax-saving opportunities for your clients.

It's a stressful situation that leads to a bottleneck in the workflow, with significant time wasted waiting for clients to get back to you.

Are you still using email to gather Personal Tax data? - You could be in trouble.

Compounding the workflow bottleneck issue is the method of communication you’re using.

Specifically, email, which is inefficient, to say the least.

Using email for document submission means you are constantly receiving fragmented information due to file size limitations and an inability to track the completeness of the documentation provided.

It’s frustrating for all of us and increases the risk of missing key documents and submitting tax returns with errors or non-compliance issues.

The limitations of email communication also mean that sensitive client information could be at risk, given the lack of encryption in standard email services.

On top of this, when the documents finally arrive, you face the painful process of manual data entry.

This is not only time-consuming but also introduces the significant risk of errors, which can multiply across different areas of the tax return, leading to a compounded effect of inaccuracies.

This can have serious repercussions for your clients and their compliance with tax regulations.

Poor tracking is hampering your workflow too!

When you don't have a good tracking system it's tough to keep an eye on how each tax return is doing or what stage your team is at in the process.

This means you're flying blind when it comes to managing Personal Tax.

It's hard to predict workloads or spot problems before they turn into bigger headaches.

This blurry view of what your team is up to and how they're handling their workflow can lead to mix-ups, not to mention time and effort going down the drain.

And without a clear picture of what's happening day-to-day, planning and sharing out tasks becomes more like making wild guesses than actually managing things smartly.

The effect on staff members and team morale

All these problems can knock the wind out of your team's sails, making them less happy at work and less productive.

This could make it harder to keep good staff at your firm and bring in new top-notch talent.

When the tax return process is out of sync, it's the same story with your team.

The problem simplified

A traditional Personal Tax process is a series of individual, disconnected steps rather than a streamlined, cohesive procedure.

The Personal Tax return problems you face are a result of not embracing automation and using digital management tools.

These tools and platforms could streamline your tax return process significantly and resolve all the issues mentioned above.

By failing to automate repetitive data entry tasks, you prevent your team from focusing on more complex, high-value aspects of tax planning and advice.

Find out how Glasscubes could automate your Personal Tax processes

How To Organise A SharePoint Site: 5 Best Practices

Tue, 07 Nov 2023 18:37:12 +0100

SharePoint users know two things about the platform: It’s powerful but also convoluted. The platform addresses so many use cases and can be an excellent workplace collaboration tool—IF it’s organized correctly. If not, it could cause chaos, and prompt user workarounds.

If you’re not familiar with SharePoint, it’s a popular content management and collaboration solution among mid- and large-size organisations, especially those that have adopted other tools in the Microsoft family of products. If you’re a leader in one such organisation, or plan on adopting the product for your team, you’ll want to learn the best ways to organise and manage your content.

For help on whipping your site into shape, consider the advice of avid SharePoint users from multiple industries below. Not only do they share best practices on organisation, but also steps to building a project plan for your SharePoint intranet. These insights could be the key to unlocking the hidden potential of both your site and your team.

**Get a collaboration solution that’s affordable and intuitive—schedule a free demo of Glasscubes today.**

How To Organise SharePoint: 5 Best Practices From Expert Users

1. Create a clear folder structure.

File this insight under must-follow SharePoint best practices: “It’s crucial to establish a clear and intuitive folder structure that organises documents in a logical manner, and ensures team members can easily locate the information they need quickly,” says Jon Morgan, CEO of Venture Smarter.

One way to accomplish this is to categorise folders based on departments, projects, or specific types of documents. For example, Morgan notes that you may have separate folders for marketing, sales, and finance, or folders dedicated to different projects or clients. “Consistency is key here. Make sure that everyone understands the structure and follows it regularly.”

2. Tag all your content with relevant metadata.

“SharePoint's power lies in its ability to handle vast amounts of data. To unlock its full potential, embrace metadata and tagging,” says Isabella Mellwex, CEO of Delish Pursuit.

Metadata such as location, date, title, and keywords allow you to categorise and classify documents, making them easily searchable and discoverable for your team. Tagging applies managed metadata to a document or other item.

Mellwex encourages her team to consistently tag content with relevant keywords and attributes, and recommends other leaders do the same. “Tagging not only enhances search functionality, but also ensures that documents are contextually related. Over time, this practice will help you build a rich knowledge base within your SharePoint site.”

3. Make use of document sets.

“Use document sets to group related documents together,” says Tina Shao, CEO of Homii Bottles. Document sets act as a container for a set of documents with similar characteristics or purposes. “This can streamline content organisation, improve navigation, and simplify version control for collections of documents such as project files or client records.”

4. Assign permissions to groups, not individuals.

Josh Snead, CEO of Rainwalk Pet Insurance recommends assigning user permissions to groups, not to individuals. This is especially important in large organisations with dozens or hundreds of users to keep track of, and also a must whenever privacy or proprietary information is involved.

“This is one lesson we learned the hard way,” Snead shares. “One of our former employees had full access to our entire SharePoint system for about five years after he stopped working for us. He was kind enough to let us know eventually, but there's no reason he couldn't have used that information to help his new employer, a competitor of ours.”

5. Perform routine maintenance.

Even under the best circumstances, disorganisation is bound to happen. People put documents in the wrong place, name files incorrectly, miss tagging items, and so on. That’s why Dr. Mollie Newton, founder of PetMe Twice, advises to schedule routine reviews and maintenance for your SharePoint sites.

“SharePoint sites can become cluttered over time—more quickly if your team isn’t following best practices,” Dr. Newton explains. “Schedule regular audits to clean up out-of-place items and remove outdated content, ensuring the site remains streamlined and relevant.”

Following each of these best practices will lay a good foundation for your team’s success with SharePoint. But if you want to go further and build a functional intranet within SharePoint, keep reading to learn how to produce an intranet project plan.

7 Steps To A Winning SharePoint Intranet Project Plan

What’s a project plan, you ask? Solutions like SharePoint, while robust and capable of increasing your teams’ efficiency, can be a bit cumbersome. Hence why you need a solid SharePoint implementation plan to lay out how you’ll configure and use this solution, maintain it over the long term, and train users. The road to a finished SharePoint implementation is too long not to have a clear path.

We reached out to several experts to get their take on the important elements of a SharePoint implementation plan. Check out their input below.

1. Review current organisational processes and systems.

If you want SharePoint to increase efficiency, you’ll need to review the processes you have in place to determine how the solution can best enhance them. It’s unlikely that you’ll be able to just plug SharePoint into your process without changing a few aspects. In fact, some processes may need a complete overhaul.

Do you already have an intranet in place? You’ll need to review that too, including what users liked—and didn’t like—about the system.

Don Rua, marketing director at Admiral, shares a story about a SharePoint implementation in which he participated. His company was large, with 50 departments and an intranet that had over 150 connections to other systems. “Our intranet touched company systems that provided data analytics, reporting, financial planning, and other functionality—and everyone hated it.”

Rua notes that employees frequently complained about the company intranet because it was outdated and lacked the functionality needed to complete work efficiently. It pushed people to create workarounds and intranet-like spin-offs across systems. “This reduced overall company cohesiveness, limited communication, and made it difficult to track anything. We wanted to make sure to avoid these issues in a new solution, which we eventually decided should be SharePoint.”

2. Decide on stakeholder roles.

Implementing a complex solution like SharePoint, especially in a larger organisation, will necessitate the involvement of numerous people. James Leversha, director at Top Notch I.T., says it's critical to establish who owns and governs not only the project but also the intranet itself.

“Due to the platform's technology-heavy design, IT will almost always be a significant stakeholder in a SharePoint intranet project plan,” Leversha explains. “In many situations, though, it will not be the owner. This ownership may be held by a single group, such as communications or knowledge management, or it may be shared among members of a committee or other governing body.”

Leversha notes that whatever the model, it must be clear how stakeholders make key strategic decisions, where the budget comes from, and where the intranet sits in the organization. “Stakeholder management is one aspect you must do at the onset to establish boundaries.”

A best practice here is to curate a cross-functional team that has strong influence over their respective areas. For example, Rua’s company set up a project advisory team that represented multiple firm departments. “Not only were they chosen to represent their areas’ needs but also to lend their clout to the project. The implementation required a lot of change, and their voices would undoubtedly make the eventual transition for workforce members much easier.”

You may also want additional oversight from project sponsors, who are typically higher-level personnel. Rua’s SharePoint implementation had a committee of executives, in addition to the advisory team. “We would present updates to the COO, CTO, and a few top directors.”

William Mills, president of Aptimized, calls out a few specific roles you may want to consider in both your SharePoint intranet project plan and post-implementation usage:

“An architect, 365 configurator, developer, or UX/UI designer will cover the technical side,” he says.
“For non-technical roles, there are community managers, change champions (the folks writing the content for the sites), communications lead(s), and the program sponsor (could be head of HR or head of corporate communications),” he notes.
“Lastly, you may need vendors and other external partners helping with the heavy lifting for new content or technical delivery,” he says.

3. Choose the right SharePoint site architecture and components.

“Before building your SharePoint site, you should consider what it will be used for and how it will develop over time—think about your SharePoint goals and objectives,” says Brad Touesnard, CEO of SpinupWP. “Work out your preferences in terms of the number of site collections, the type of navigation, and the folder structure, among other aspects.”

Touesnard also notes that you will need to consider a number of modules that SharePoint offers:

The Library permits you to store documents.
Tasks allow you to delegate and track progress on activities.
Announcements let you post important information.
The Calendar enables you to schedule meetings and other events.
Contacts provide you with a way to store employee emails, phone numbers, and other contact details.

“There are other modules to consider,” says Touesnard. “Which modules you choose depends on the functionality you need.”

4. Evaluate your budget, timeline, and scope.

“These types of projects can go on forever because of the complexity involved and vast amount of content your stakeholders will want for the new intranet,” says Mills. “Ensure that you box in your needs based on the mandatory features you’ve decided on.”

Coloring outside the lines with scope—namely attempting to implement features outside of the original plan—naturally impacts the budget and timeline aspects of the project. You can quickly find yourself with an overrun budget and extended timeline without a clear plan to follow closely.

5. Schedule implementation tasks.

“A successful SharePoint implementation requires proper scheduling of every task involved in the project,” says Waqar Ahmed, SEO expert at Appstirr. “Typical implementations can take anywhere from three to six months, and that timeline can easily go off course if not planned beforehand.”

6. Test the implementation.

Ahmed says it’s important to test SharePoint prior to rolling it out to the entire organisation. This gives you the opportunity to catch issues, optimise configuration options, and gather preliminary user feedback. “Put together a group that represents as many typical users as possible from across the organisation. You can then make adjustments to the system before going live company-wide.”

7. Roll out the solution.

Once you have everything set up and addressed your test team’s feedback, you’re ready to take SharePoint live to the whole organisation. Be sure to encourage your key stakeholders to push adoption and keep the feedback loop open to quickly address any issues that arise.

Make collaboration effortless with an alternate solution: Glasscubes

While it’s certainly possible to make SharePoint work well for your team, it does take some degree of effort. Some common issues with SharePoint are:

The interface is too complex. Because the solution’s interface is often described as “clunky” and “frustrating,” user adoption tends to be low.
It’s too costly. If you have a tight budget, SharePoint is likely to completely blow it away thanks to fees for the initial purchase as well as licensing, maintenance, and upgrades.
It requires a lot of training. SharePoint has a high learning curve due to its complexity. In some cases, it can take weeks or even months to get users fully up to speed depending on how you’ve chosen to configure the solution.
It requires IT involvement. Your in-house IT team is likely going to be tied up with configuring and maintaining SharePoint. (Or, you’ll need to hire outside people.)
There is no free trial. Given the expense and complexity of a SharePoint implementation, it’s unfortunate there’s no trial period. After investing so much time and energy, what happens if you don’t even like it—or your users don’t adopt it?

Glasscubes is a popular alternative to SharePoint that makes intranet-ing (yes, we made that word up!) a cinch. But our solution is more than just an intranet—it’s a robust collaboration solution that ensures your entire organisation is able to stay connected internally and externally.

Compared to SharePoint:

Glasscubes is team-friendly. You don’t have to learn or train with Glasscubes, which is why so many of our reviews sound like this: “[The platform is] ‘a joy to work with’” and “We can't really imagine what [work] was like without the platform.” (See these reviews and more on Trustpilot and Capterra!)
It’s more affordable. You can subscribe to Glasscubes for one (affordable!) monthly cost and never have to worry about maintaining or upgrading the solution down the line.
It’s simpler. Your team can master Glasscubes in a matter of hours—most users get the hang of the system the same day.
It’s easier to maintain. Glasscubes doesn’t require any IT attention. Simply sign up and start using the solution.

Best of all: You can try it out for free! Glasscubes provides a 30-day free trial, so you have plenty of time to determine whether it’s a good fit for your organisation.

Keep your teams on track to success with its collection of value-packed features:

Store and share files in a secure location, complete with automatic version control. You can even create approval workflows and view clear audit trails of user actions.
Collect, process, and approve information through customisable, automated forms and workflows that include user assignees, assignee follow-ups, and completion alerts.
Assign and manage tasks for different members of the team, and track them to completion.
Create customised workspaces for each project team in your portfolio. Team members can share resources and communicate with one another in their specific workspace, and you can access them all for easy oversight.

Ready to try out an alternative to SharePoint? See how it works—request a free demo of Glasscubes today!

The problem that no one is addressing that's affecting your staff’s morale

Thu, 02 Nov 2023 11:29:20 +0100

In accounting firms across the UK, senior management often grapple with maintaining staff morale which can have a knock-on effect to retaining them. Even if you think this is not the case, wouldn’t you want to increase morale and efficiency across the firm, which will ultimately leadto better fiscal results?

So what problem is affecting morale? Typically, its manual low value repetitive activities, along with frustration with how a process, such as tax returns, is being done.

Common challenges include:

Poor document handling
Inefficient communication with clients
Lack of visibility within the firm
Workflow inefficiencies

These issues not only hamper productivity but also have a detrimental impact on employees' morale. This could result in a high staff turnover rate and a disengaged workforce.

Disconnected senior management teams are a problem (sorry!)

When senior management is unable to streamline workflow processes it leads to a chaotic work environment.

Employees find themselves running around, duplicating tasks, and engaging in monotonous manual processes.

Client interactions are therefore disorganised and poorly controlled, leading to missed opportunities and dissatisfied customers.

The repercussions of this are far-reaching.

Staff morale takes a significant hit as employees struggle to keep up with a chaotic workflow.
It becomes challenging to retain high-quality staff and even more difficult to recruit new talent. The remaining staff are left feeling lost, confused, and disengaged.

A disengaged team is less productive, less motivated, and less likely to stay with the firm in the long term.

The cost of recruiting new staff is high, not to mention the time and resources spent on training them.

Moreover, a high turnover rate can tarnish the company's reputation, making it even more challenging to attract top talent.

How can the problem be addressed?

There are 4 core principles that any process such as tax, audit, accounts,VAT, etc need to start taking advantage of :

Automation

Activities such as chasing clients or outstanding information need to be automated. Its simply a waist of valuable time having staff manually send emails to clients prompting them for outstanding information.

Visibility

Using tools that give you real-time reporting and tracking empowers you and your team to oversee the advancement of all client information requests. The efficiencies this produces allows everyone to focus on higher value activities.

Auto-channelled communication

Modern information gathering tools, keep all client communication with your team in the same location, Save significant amounts of time and reduce the risk of overlooked communication, duplicated client requests, or the use of wrong information, which could lead to extended turnaround times, or in the worst case, fines.

Tracking and client convenience

Tracking allows the staff, but more importantly the client, to easily see what is outstanding and what is expected from them. Making for a more efficient and more satisfactory experience working with your firm.

Its time to move these processes out of email into a tool that supports your staff and helps the overall efficiency of the firm, allowing them to focus on high value activities rather than manual low value repetitive activities.

If you are interested in learning more you can book a discovery call with one of our subject experts or read more about this here.

7 Free Online Workspace Tools For Remote Teams On A Budget

Mon, 30 Oct 2023 19:18:09 +0100

Leaders of every organisation want their workforce to operate at maximum productivity. But let’s be honest—not every business has the budget to afford advanced tools that fully unlock their employees’ productivity superpowers.

Luckily there are actually a multitude of free online workspaces on the market that come pretty close. These workspaces offer different combinations of features—such as file sharing, project management, and messaging—but all share the same purpose of helping remote teams collaborate.

But how do you know which solution to choose? Just because they’re free doesn’t mean you’re willing to try numerous solutions and hope for the best.

We reached out to several business leaders to see what their experience has been like with the free online workspaces they use for remote team collaboration. Refer to their insights below to build a shortlist of potential solutions for your business.

Meet the collaboration solution that boosts workforce productivity without breaking the bank: Glasscubes. Schedule a free demo today.

7 Free Online Workspaces

1. Google Workspace

“Like many other businesses, we used Google Workspace in our beginning days before moving to a paid solution in recent years,” says Stefan Campbell, owner of The Small Business Blog. He notes that a key reason for choosing a Google product was his team’s familiarity with the Office-like apps the product offered.

However, Campbell soon discovered that customer service was not a priority for Google, and his team frequently had difficulty getting help resolving problems. The user experience was “great for the most part,” but once they encountered a problem with any of the apps, they’d typically have to deal with it for an extended period of time.

“We’d have to plough through online resources and explore community forums to try and find solutions to our problem,” Campbell explains. “If it wasn’t a common problem, then it could take days or even weeks until it was resolved, negatively impacting productivity in the meantime. This seems to be the case across other free workspaces from what we’ve seen.”

2. Notion

Ann Martin, director of operations at CreditDonkey, says her team has been using Notion, a freemium productivity and note-taking app, to create a shared wiki since 2020. “For that task, it’s perfect. The platform is flexible and intuitive, and makes it easy to create linked documents and tags for quick searching.”

The challenge with Notion came with “wrangling” all the information Martin’s team had created across multiple areas such as finances, internal procedures, customer data, and affiliate businesses. “It took a long time to create an information structure that was effective within the platform.”

3. Slack

The team at Badais International uses the free version of Slack, a platform for communication and file sharing. Since Slack is primarily a paid platform, its free version has a number of limitations.

CEO David Cohen says that, while his team relies heavily on the platform for online collaboration, the most significant challenge with the free version is the limitation on searchable messages. “This limitation can make it challenging to retrieve past conversations and information as our team's communication history grows.”

4. Trello

“In the past, our remote team used the free version of Trello as a shared workspace online,” says Chris McGuire, founder of Real Estate Exam Ninja. Trello is marketed as primarily a project management platform that features the use of boards, lists, and cards to help organise work.

McGuire admits Trello offered a “user-friendly experience” and that it integrated well with other tools. Still, one of the largest challenges was its limited functionality regarding advanced project management features.

“While it served us well for basic task tracking and organization, we found it lacking in dependency tracking, resource allocation, and advanced reporting,” McGuire explains. “As our projects became more complex, we eventually needed to transition to a more robust project management tool.”

5. Microsoft Teams

The team at Ninebird Properties has used multiple tools for collaboration, including Slack and Google Hangouts, but they currently use Microsoft Teams as their free virtual workspace. Microsoft Teams is a business communication platform primarily focused on video conferencing, meetings, and instant messaging.

Overall the platform has been useful for having real-time discussions and collaborating on projects together. However, owner Mark Buskuhl says it’s also been “challenging getting everyone on the team to consistently use all the platform’s features. In addition, there are some occasional technical difficulties that cause disruptions in our workflow.”

6. ClickUp

“ClickUp has been instrumental for project management—it’s where we create, assign, and track tasks,” says David Rubie-Todd, cofounder of Sticker It. His team uses the platform together with Google Workspace to address their collaboration needs.

Rubie-Todd says ClickUp has a wide range of features, but the primary challenge with this is that the “learning curve for new users is steep. It took quite some time for our team to understand and make use of all the features needed for our business purposes.”

7. Coda

Coda is a cloud-based document management tool that the remote team at EvolveDash uses in their operations. “The tool comes with rich features for sharing and editing documents while promoting collaboration, including an editor, drag-and-drop task manager, and revision history,” says the company’s CEO, Khunshan Ahmad.

But the platform is not without its challenges. Similar to Rubie-Todd, Ahmad says it took “ample time” to train his remote team on using Coda. “In addition, sometimes we experience slow loading speeds. Such disruptions negatively impact team productivity and the overall user experience.”

Free vs. paid products: Are shared online workspaces worth paying for?

Clearly there are some solid tools available that won’t cost your organisation a dime. However, as you can tell from the challenges the business leaders above shared, it may cost you in other ways: lost time, slower turnaround, team confusion, and so on.

So is it worth it to give up on a free shared workspace and open your wallet for a paid one? Review the advice below and decide for yourself.

Yes, invest!

“Remote teams should consider investing in an online workspace because it enhances collaboration, communication, and organisation. Paid online workspace solutions often offer more storage, advanced project management, security features, and support, which improves productivity and ensures their data is protected.”

—Cameron Heinz, CEO of Mobility Nest

“It’s important for a remote team to have the specific tools or platforms that meet their unique needs and enable them to function effectively. This might mean that your team needs a paid platform, and that investment will pay off in the long run.”

—Jeremy Yamaguchi, CEO of Lawn Love

No, don’t bother!

“If a remote team has very basic collaboration needs and can manage with free tools like email and chat apps, they might not need to invest in a dedicated online workspace. Additionally, if the team is working with a limited budget and cannot afford the cost, they may opt for free or low-cost alternatives.”

—Heinz

“Remote teams may opt not to invest in an online workspace if their budget is extremely limited and they can manage with basic communication tools. However, the benefits of an online workspace often outweigh the costs, particularly for larger teams or those with complex collaboration needs.”

—Cohen

Get A Robust Collaboration Solution That Fits Within Your Budget—Without The Drawbacks

Glasscubes isn’t a free virtual workspace, but it’s definitely an affordable one that comes with a 30-day free trial period. Even organisations with limited budgets—including nonprofits such as this one—can take advantage of this all-in-one collaboration solution for secure file sharing, project tracking, intranet-ing, and so much more.

You can create an unlimited number of unique workspaces where you control access and visibility, share files, and manage tasks. Bring together different departments, project teams, and contractors in one shared space and allow them to share everything from in-depth insights to quick status updates. Go further by inviting clients and vendors too.

“Intuitive tool”

“Glasscubes is a really useful tool—simple to navigate and an effective way to link content within our document library to our website. Customer service is good, and the platform is intuitive.”

—Paul Allen via Trustpilot

Keep your teams on track to success with a collection of value-packed features:

Store and share files in a secure location, complete with automatic version control. You can even create approval workflows and view clear audit trails of user actions.
Collect, process, and approve information through customisable, automated forms and workflows that include user assignees, assignee follow-ups, and completion alerts.
Assign and manage tasks for different members of the team, and track them to completion.
Create customised workspaces for each project team in your portfolio. Team members can share resources and communicate with one another in their specific workspace, and you can access them all for easy oversight.

Want to see how other companies are using Glasscubes to make their teams more productive? Check out these case studies. Or, get started working more efficiently now by requesting a free demo.

How To Create A Client Information Sheet [TEMPLATE]

Thu, 26 Oct 2023 11:24:12 +0200

It’s hard to serve your clients properly when you don’t know much about them. That’s why most teams take time at the start of the relationship to gather important data points about the companies they’ll be working with and record them on a client information sheet.

But what type of data points, what do these sheets look like, and what’s the process for creating one? We reached out to several business leaders across multiple industries to see how they produce their client information sheets. Keep reading to see their insights and an information sheet template you can use in your business.

Take a tour of Glasscubes to see how you can collect client information quickly and easily—schedule a demo today.

Client Information Sheets In 7 Different Industries

1. Mobile App Development

“Our customised digital solutions always start with a client information sheet, which is electronic for convenient access and updates,” says Vikas Kaushik, CEO of TechAhead, a mobile app development firm. His team gathers client preferences, project specifications, technical needs, and budget limitations through consultations with the client. “This data helps us not only understand their vision, goals, and needs, but also tailor our offerings accordingly.”

2. Matchmaking

Sameera Sullivan, CEO of Sameera Sullivan Matchmakers, says she uses client information sheets to collect basic data points such as name, age, and location as well as more intricate details like desired partner traits, personal hobbies, values, and life aspirations. “Such a comprehensive dataset is pivotal to ensuring precision in our matchmaking process and crafting a personalized experience for our clientele.”

To gather this information, Sullivan uses a three-fold process: Clients initially engage with an online questionnaire upon sign-up. Following this, her team schedules personal video interviews, which “enhances our understanding and authenticity of the provided details. We also collect post-date feedback, which we use to refine client profiles.”

While operating within the matchmaking industry has standard practices, Sullivan says her emphasis on continuous feedback and personal interviews helps set her business apart from competitors. “This harmonious blend of technology and human touch ensures our matches aren't just algorithmically apt but deeply resonate on an emotional level.”

3. Real Estate

“We find client information sheets to be incredibly valuable for keeping track of essential details about our clients and properties,” says Brett Johnson, owner of Cash For House Pro. The kind of information his team collects includes the client's name, contact details, property preferences, budget, preferred locations, and any specific requirements they may have. “This information helps us provide personalized service, identify suitable properties, and streamline the entire buying or selling process.”

Information collection for Johnson’s team starts with an initial consultation with the client, whether in person or over the phone. During this conversation, his team asks open-ended questions and actively listens to the client’s needs and preferences.

“We then input this data into our client management software, ensuring accuracy and accessibility for our team,” Johnson explains. “Additionally, we may use online forms or surveys to gather specific details and preferences, making sure we capture every relevant piece of information.”

4. Digital Marketing

“We record all information we have about our clients into a templatised client information sheet, which is then incorporated into our CRM,” says Sam Warren, CEO of RankPay. “This document is not static—we update it regularly based on future conversations we have, changes in their business, and so on.”

Warren says his team initially uses an onboarding questionnaire during calls with new clients at the start of the engagement, and that information gets transferred into the client information sheet afterwards.

“We find that by asking verbally—rather than sending a sheet to the client to complete themselves—we get much better quality and more thorough answers,” Warren explains. “We also don't have to chase people down to complete the form.”

**Avoid hassling clients for a response. Request information once with collaboration platform Glasscubes—it does the following up for you. Schedule a free demo today.**

5. Ecommerce

Badais International is a wholesale supplier of flowers and plants that operates as an ecommerce business. CEO David Cohen says his team uses digital client information sheets to collect contact information, preferred plant types, and seasonal preferences. Over time, these sheets are updated with order history.

“Learning clients’ preferences and reviewing purchase history helps us personalise our client interactions, offer tailored product recommendations, and ensure smooth order processing,” Cohen explains. “In addition, it helps us anticipate demand and plan our inventory more precisely.”

Cohen’s team gathers client information through various channels, including online registrations, order history analysis, and direct communication. “Our website's registration process prompts clients to provide their details, while our sales and customer service teams maintain records of discussions and transactions. We continuously update and refine this data to ensure its accuracy and relevance.”

6. Life Insurance

“My business uses client information sheets to collect personal contact information such as name, address, email, and phone number,” says Linda Chavez, founder and CEO of Seniors Life Insurance Finder. “We also ask for any relevant medical history, allergies, and current medications that could affect the services we provide. We do this so that we can communicate with clients about their appointment times or offer follow-up health advice if needed.”

Chavez’s team usually collects the information from clients in person at their appointment or over the phone when they schedule the appointment. The team then fills out the client information sheet with any relevant details and stores it securely in their customer database.

7. Online Gaming

Artem Minaev, cofounder of PlayToday.co, says his team doesn’t use “traditional” client information sheets. Given the nature of the gaming and betting industry, their primary focus is on user accounts and registration information.

“We collect essential details such as usernames, email addresses, and securely stored passwords to ensure smooth access to our platform,” says Minaev. “The main reason for gathering this information is to create and maintain user accounts, personalise user experiences, and comply with regulatory requirements for age verification and responsible gaming.”

During the registration process, users provide their desired usernames and valid email addresses and create secure passwords. Additionally, Minaev’s team requests verification documents such as age verification IDs to comply with legal requirements, particularly for users engaging in betting activities. “Our data collection process is designed to prioritise user privacy and data security. We use encryption and follow industry best practices to safeguard sensitive user information.”

Client Information Sheet Template

As exemplified above, client information sheets can differ greatly among industries since businesses need unique data points about the clients they serve. While producing a sheet for every industry would be exhaustive, the below client information sheet template—made with Glasscubes—should give you a general idea of what this type of document can look like so you can build one of your own.

Use Glasscubes to spend more time collaborating with clients and less time requesting information.

Glasscubes is a secure, all-in-one collaboration solution for large and small businesses alike. One of its key offerings is the online forms feature, which you can use to build forms and request information from clients, employees, and vendors alike. Send forms to your desired party once and the system automatically follows up if they don’t complete forms in a timely manner.

But don’t stop at forms. Law firms, marketing agencies, accountancies, public agencies, and nonprofits all use Glasscubes as a secure file sharing platform, company intranet, project tracker, and more.

“Glasscubes—very useful information gathering tool”

“Really enjoying using Glasscubes as an information gathering tool. We are a firm of accountants, and this clever but simple software is saving us time and helping us automate but maintain personal touch and branding.”

—Alison Habebi via Trustpilot

Keep your teams on track to success with a collection of value-packed features:

Store and share files in a secure location, complete with automatic version control. You can even create approval workflows and view clear audit trails of user actions.
Collect, process, and approve information through customisable, automated forms and workflows that include user assignees, assignee follow-ups, and completion alerts.
Assign and manage tasks for different members of the team, and track them to completion.
Create customised workspaces for each project team in your portfolio. Team members can share resources and communicate with one another in their specific workspace, and you can access them all for easy oversight.

Want to see how other companies are using Glasscubes to make work more efficient? Check out these case studies. Or, get started working more efficiently now by requesting a free demo.

The ugly truth of an inefficient Audit process

Wed, 25 Oct 2023 15:27:34 +0200

Do you ever get frustrated at the progress of audits? Or feel like you lack visibility over the entire process?

Despite practices' best efforts to standardise their audit procedures, workflows can become easily fragmented because of issues like disorganised email communications, uncoordinated data-gathering methods, a lack of version control, and client delays.

The result: A chaotic audit process that can easily lead to frustration, mistakes, and the potential loss of clients. In the worst instance, you may even find your procedures fall outside excepted accounting standards.

We outline 4 areas and what the fallout looks like to the team and the practice when the audit process isn’t working as it should be, along with the underlying issues.

Errors and non-compliance

These occur due to:

Lack of automation and a reliance on manual data input and document management.
Inconsistent version control due to multiple staff working on the same audit material with little visibility of their colleagues' work.
Inefficient communication channels between those working on the audit, especially when some colleagues work from home or in separate offices.

Lost clients

Losing audit clients is generally down to:

Missed deadlines because of a lack of information-gathering and client reminder automation.
Poor communication and a lack of visibility of their audit process, which is fixed through online to-do lists and reminders.
A poor reputation due to errors, as mentioned above.
Or simply new clients get left at the door, as you are too busy to field new enquiries.

The consequences of losing clients cannot be overstated.

It causes a loss of income and further intensifies the problems associated with a poor reputation.

It is also demoralising to your team, which adds to the chances of frustration and burnout.

Frustration and burnout

Staff and colleagues can become burned out and frustrated when your audit process is poorly managed. In the worst case, they may even decide to go elsewhere.

This is caused by:

Disorganised communication which holds staff back from completing their work.
Deadline pressures which are exacerbated by poor information flow and lack of visibility between colleagues.
Resource mismanagement means staff are confused – confusion leads to frustration, which in turn leads to them looking elsewhere for work.

A high staff turnover could be the result of the disillusion associated with a poorly managed audit process.

With accounting firms already facing a recruitment and retention process, can you really afford to lose talented staff?

GDPR breaches

There was a lot of noise around GDPR when it was first drafted, but practices are still regularly exposing themselves to potential fines.

According to some research, a staggering 43 per cent of practices in the financial sector have not implemented sufficient data management software that would protect their clients from privacy breaches.

Considering the ICO’s ability to hand out fines of up to £17.5 million, depending on the severity of the infringement, this is an issue that all firms should be actively guarding against.

So, what can be done about it?

If your firm wants to streamline its audit process, but you are tired of grappling with these challenges, cloud-based information-gathering software offers a solution.

These platforms are designed to streamline your audit workflow, reduce errors, meet deadlines, and alleviate your team’s frustrations by automating client reminders and to-do lists, fostering digital collaboration, and giving you visibility of your team’s workflow.

Traditional audit processes vs cloud-based solutions

Traditional information-gathering processes, like email or client portals, often suffer from delayed communication and tedious manual data management.

In addition, emails often have file size restrictions that mean your audit information is arriving in your inbox in a stream of fragmented messages.

On the other hand, cloud-based solutions centralise and standardise real-time communication and automate data management to prevent these issues.

They also offer real-time visibility of workflow tasks and deadline tracking features to keep your team on top of the audit process.

How Glasscubes can help

Glasscubes, an information-gathering solution tailor-made for accountants, can significantly reduce the impact of some of these issues.

Streamlined workflow: Glasscubes allows you to view your workload and associated audit requests in real-time meaning you can prioritise tasks effectively.
Reduced errors: By centralising auditing requests on Glasscubes, you ensure team alignment and up-to-date information, significantly reducing error risks and duplicate work across the team.
Meeting deadlines: Glasscubes comes with built-in deadline tracking features, allowing you to set automated reminders, to make sure clients provide information in a timely manner. This ensures that you meet all deadlines, keeping your clients happy and your practice compliant and not having to deal with resource management when clients leave everything to the last minute.
Alleviating frustrations: The platform is designed to be user-friendly, reducing the learning curve and making it easier for your team to adapt. This ease of use can significantly alleviate the frustrations commonly associated with disjointed workflows.

In today's fast-paced and highly regulated accounting landscape, an efficient and compliant audit workflow is more important than ever.

By adopting Glasscubes, you can not only enhance the productivity of your practice but also safeguard its reputation and profitability, ensuring long-term success.

Would you like to know more? Click here to view a demostration, or visit this page to get more information

5 Email Alternative Tools For A Productive Remote Team

Mon, 23 Oct 2023 12:30:19 +0200

In a world where remote work is now commonplace, it’s important to have the best tools in place to ensure employees are working as efficiently as possible wherever they may be seated. That means moving past simple email exchanges, which can drain productivity.

In a study of over 8,000 small business employees, 48% of respondents said they miss emails due to spam or junk folders while 44% admitted that their inboxes are full of irrelevant emails.

Clearly there’s a need for a better solution. Give your remote team the productivity boost it needs with the email alternatives business leaders recommend below, whether you’re looking to step into the modern age or just want to try a new communication solution for your organisation.

Need an email alternative that improves not only communication but also overall work management? Schedule a free demo of Glasscubes today.

5 Email Alternatives To Boost Team Productivity

1. Slack

“We transitioned from traditional emails to Slack for our internal communications,” says Amy Smith, cofounder of AmyandRose. “Why? We felt the burn from time wasted in inefficient communication. The chatter-filled inboxes were becoming tedious. Bringing in Slack helped us modernise—it was like shifting from a typewriter to a smartphone.”

Smith lists several benefits associated with this alternative to email:

Speedy responses. Her team was able to communicate in real time so important questions didn’t sit unanswered in overflowing inboxes.
Categorisation. They were able to dedicate channels to different projects. “Our ‘Baby Products’ channel was a lifesaver,” Smith recalls.
Integration. Slack connected well with the other tools her team used.

“However, there's a twist—while the world praises the instantaneousness of tools like Slack, it can be a double-edged sword. There's an underlying expectation to reply ASAP, which can be stressful,” Smith explains.

2. Asana

The chosen email alternative for HaroSEOBoost is Asana. It’s a project management and collaboration tool the team has “fully embraced,” according to CEO Michael Chien. It “provides a centralised location where we can organise tasks, assign responsibilities, and track project progress.”

Chien notes that adopting Asana has afforded his team several internal benefits, including improved task management, reduced back-and-forth email exchanges, and improved overall coordination among teammates. “Externally, it has enabled us to give clients greater visibility into project status and timelines, improving client satisfaction.”

Slack + Asana = A “Dynamic” Combo For The Team At Must Read Quotes

The remote team at Must Read Quotes has found success in using both Slack and Asana as their email replacement.

“We often grappled with inefficiencies in email communication,” says founder and CEO Maurizio Petrone. “So we ventured into using a combination of these two solutions, which has proven to be a more dynamic and efficient solution for our global team than email.”

By integrating these tools, the team has seen significant improvements in both internal and external communication. “The immediacy and transparency afforded by these tools have fostered greater accountability and enhanced project turnaround time,” Petrone shares.

3. Glasscubes

“I have found Glasscubes to be an excellent email alternative that has greatly improved our practice in various ways,” says Michael Thompson, founder of and leading veterinarian at Pets Food Safety.

The software's secure messaging system has made communication with his team members much more streamlined.

“We can share patient information, discuss cases, and even collaborate on treatment plans in a secure and organised manner,” Thompson explains. “This has improved our teamwork and ultimately led to better patient care. Not to mention the ability to send health updates to pet owners in real time has also been instrumental in keeping them engaged and informed about their pet's wellness journey.”

Overall, Glasscubes has proven to be an “invaluable tool” in Thompson’s practice that’s helped enhance communication with pet owners, improved remote work capabilities, and streamlined internal operations. “We highly recommend Glasscubes to any veterinary practice or similar business looking to experience these benefits.”

More Organisations Using Glasscubes As An Email Alternative

Here’s why Glasscubes—rated 4.8 stars on Trustpilot and 4.7 stars on Capterra—is an excellent alternative to email:

“Really enjoy using Glasscubes. It's an efficient way to keep all comms and files in one place and helps keep the email box [from] getting too full and cluttered.”

—Emma via Trustpilot

“[Glasscubes is] really useful for virtual team working and very user friendly! […] I also really like that you can tag people and comment directly on files or draw people's attentions to specific things—without hundreds of emails going round.”

—Erin D. via Capterra

“Glasscubes is the ideal platform when working with an association. The features allow quick feedback from all members and save time and energy—no need to send billions of emails.”

—Margaux D. via Trustpilot

See what Glasscubes can do for your business—request a free demo today.

4. Microsoft Teams

Min Hwan Ahn is an attorney and founder of EZ485. Since she works in the legal field, confidentiality and secure communications are important.

While her office still relies on email, she’s found a partial email replacement in Microsoft Teams. “Its integrated platform for video meetings, instant messaging, and file sharing have fortified our internal workflow, allowing us to maintain close-knit communication within the office.”

The integration of Microsoft Teams has “significantly increased efficiency levels,” and Ahn’s team enjoys the ability to instantaneously share and edit documents, conduct team meetings, and troubleshoot client issues. “These features have made internal communication more seamless, a much-improved environment compared to scattered email threads.”

For external communication, particularly with clients, Ahn’s office continues to use encrypted email services to meet ethical obligations of maintaining client confidentiality.

5. ClickUp

“When I embarked on a quest to find a viable alternative to the traditional email system that could seamlessly blend with our dynamic workflow, I landed on project management software ClickUp,” says Dominik Mąka, an SEO agency owner. “It’s been a perfect fit for my business operations.”

Note: ClickUp was also a tool that made it on our list of 20+ productivity tools for work.

Mąka says that using ClickUp as an email replacement produced a “palpable transformation.” The tool became her team’s “digital nerve center, encapsulating tasks, deadlines, and discussions in one coherent, easily navigable platform.”

His team’s favorite features:

Task assignments
Status updates
Threaded discussions

“These features have significantly decluttered our communication. It's like having a digital conference room where ideas resonate, actions are mapped out, and progress is visible in real-time,” Mąka explains.

Externally, Mąka notes that liaising with clients has become more structured than when his team relied on email. The shared spaces feature enabled them to create dedicated areas for client projects, where everyone could collaboratively discuss, share files, and track project milestones. “This transparency fostered a culture of trust and engagement with our clients, which is invaluable in our line of business.”

The Only Email Alternative You Need For Maximum Team Efficiency Is Glasscubes

Glasscubes is a great email alternative for organisations of all types—law firms, marketing agencies, accountancies, public agencies, and even nonprofits. That’s because Glasscubes is more than just an alternative to email—it’s also a secure file sharing platform, company intranet, project tracker, and much more.

Keep your teams on track to success with a collection of value-packed features:

Store and share files in a secure location, complete with automatic version control. You can even create approval workflows and view clear audit trails of user actions.
Collect, process, and approve information through customisable, automated forms and workflows that include user assignees, assignee follow-ups, and completion alerts.
Assign and manage tasks for different members of the team, and track them to completion.
Create customised workspaces for each project team in your portfolio. Team members can share resources and communicate with one another in their specific workspace, and you can access them all for easy oversight.

Want to see how other companies are using Glasscubes to make work more efficient? Check out these case studies. Or, get started working more efficiently now by requesting a free demo.