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5 Powerful Ways Your Accounting Firm Can Use Automation

Jun 21, 2023
  • 7 min read
  • Omid G

    When you’re an accountant, your time is extremely important when it comes to your firm’s bottom-line success. Like lawyers, many accountants run on billable hours, meaning time spent on client work is paramount to optimizing revenue. Yet research suggests that more than half of accountants still rely on legacy systems to run their accounting operations.

    Even more surprising is the fact that, on average, only 39% of tasks in the accounting and finance sector are currently automated. This leaves a significant portion of accounting and finance processes dependent on traditional Excel spreadsheets and labor-intensive manual efforts.

    Copilot for accounting

    Here at Copilot, we’ve got a better way. In an industry where precision is crucial, it’s important to reduce human error by embracing the power of automation to streamline your accounting business and workflows. By harnessing accounting firm automation tools like Copilot, you can revolutionize the way your accounting firm operates, freeing up valuable time and resources to focus on revenue-generating, strategic initiatives.

    In this article, we will explore five powerful ways your accounting firm can leverage automation to enhance productivity, accuracy, and client satisfaction. From eliminating repetitive tasks to enhancing data analysis capabilities, these automation techniques will empower your firm to embrace the future of accounting and take your accounting services to new heights. Let’s dive in and discover the potential of accounting firm automation in the world of accounting.

    What Is Accounting Firm Automation?

    Accounting firm automation refers to the application of cutting-edge technologies to streamline and automate routine tasks within accounting firms. This process integrates sophisticated tools such as AI, cloud-based solutions, and specific accounting software to enhance overall productivity, accuracy, and operational efficiency.

    Accounting firm automation

    Automation shifts the focus of accounting professionals from mundane tasks to strategic advisory roles. It includes automating a variety of functions, from managing bank transactions to creating detailed financial reports. The transition towards automation also impacts the firm's pricing strategies, enabling a more value-oriented approach. The objective of implementing automation in an accounting firm is to optimize processes, elevate service quality, and cater more effectively to client needs, including those of small businesses.

    5 Ways You Can Automate Your Accounting Firm

    Automation is the key to unlocking efficiency and growth in your accounting firm. In this section, we will explore five powerful ways you can leverage automation to streamline your operations, enhance client service, and propel your firm toward success.

    1. Client Onboarding

    Client onboarding is a critical process that sets the foundation for a successful, long-term client-firm relationship. By automating client onboarding, you can streamline the entire process, ensuring a seamless experience for both your firm and your clients. Here’s how you can take a fresh approach to automating client onboarding with Copilot.

    Automated Intake Forms

    Automated intake forms in Copilot

    Instead of relying on traditional paper-based forms or manual data entry, leverage automation tools like Copilot to create online intake forms. These forms can be customized to collect specific client information, such as contact details, business specifics, and engagement requirements. Automating the intake process eliminates the need for manual tasks and minimizes the chances of errors (more on this below).

    Integrated Data Capture

    With automation tools, you can integrate your online intake forms directly with your firm’s sales CRM, accounting automation software, and other products you already use. This integration allows for seamless data capture and transfer, automatically populating client information into your CRM or practice management software. By eliminating manual data entry, you can save time, improve accuracy, and ensure that client information is up to date across all systems.

    Automated document collection

    Automate the process of collecting necessary documents from clients during onboarding. Use Copilot’s secure file-sharing capabilities to allow clients to upload relevant documents directly to their client portal. Automated notifications can alert both your firm and the client when documents have been received, ensuring efficient communication and a smooth onboarding experience.

    Personalized Welcome Messages

    Create a personalized welcome message that appears when new clients log in to your client portal. Set a positive tone for the client relationship from the start, set expectations for response times, and welcome your clients aboard in a professional manner.

    2. Client Billing

    Billing and invoicing can be time-consuming and prone to errors if done manually. Automating your client invoicing and billing process can save valuable time, improve accuracy, and enhance cash flow management. Here’s how you can leverage automation, specifically through Copilot’s billing app and client portal, to streamline your client billing.

    Automated Invoices

    With Copilot’s billing app, you can automate the generation and delivery of branded invoices to your clients. Once you set up billing with a client, you’ll eliminate the need for manual invoice creation and ensure timely and consistent billing.

    Seamless Payment Integration

    Copilot’s billing app integrates seamlessly with popular payment gateways, enabling clients to make payments directly through their client portal. This integration streamlines the payment process, reduces manual effort, and improves cash flow by enabling prompt payment.

    Invoice Tracking and Reminders

    Copilot invoice tracking

    Copilot provides real-time visibility into the status of invoices. You can track which invoices have been sent, viewed, or paid by clients. Additionally, the app can send automated payment reminders to clients, reducing the need for manual follow-ups and ensuring timely payments.

    Invoice History and Client Self-Service

    Invoice history

    Clients can access their complete invoice history within their client portal, allowing them to review past invoices and payment details at their convenience. Empowering clients with self-service options not only saves time for your firm but also enhances transparency and client satisfaction.

    3. Client Communication

    Efficient client communication is vital for maintaining strong relationships and providing exceptional service. Automating client communication through Copilot’s messaging app can streamline your firm’s interactions with clients, saving time and ensuring timely and consistent messaging. Here’s how you can leverage automation to enhance client communication.

    Automated Welcome Messages

    Automated welcome messages

    Set up automated welcome messages that are triggered when clients create an account through your accounting firm's website. These personalized messages can provide a warm welcome, introduce key team members, and outline important next steps, setting the stage for effective communication throughout the client engagement.

    Mass Communication

    Mass communication Copilot

    When you want to send a message to all clients, such as a holiday greeting or a promotional offer, use the mass-messaging feature to communicate to everyone at once.

    Grouped Conversations

    Copilot’s messaging app organizes client communications into conversations, making it easy to track and reference past messages. Real-time notifications keep everyone on the same page.

    4. Client Reporting

    Google Sheets reporting

    Client reporting is a crucial aspect of accounting firms, as it provides transparency and helps clients make informed, data-driven decisions. Copilot offers powerful automation capabilities for client reporting, integrating with tools like QuickBooks, Looker Studio, and Zapier to streamline the process and deliver valuable reports. Here’s how you can leverage automation to enhance client reporting.

    Looker Studio integration

    Copilot seamlessly integrates with Looker Studio, a robust data analytics and reporting platform. By connecting Copilot with Looker Studio, you can automate the generation of comprehensive and visually appealing reports for your clients that outline key financial metrics, trends, and insights.

    Connect Apps With Zapier

    Zapier Copilot integration

    Copilot’s integration with Zapier opens up endless possibilities for workflow automation and client updates. With Zapier, you can connect Copilot with various applications, enabling automated triggers and actions. For example, you can connect with tools like Databox and Google Data Studio to generate comprehensive dashboards that show client data in a visually appealing, digestible format that makes complex information more accessible and easy to understand.

    5. Client Intake Forms

    Online form submissions

    Client intake forms are essential for gathering crucial information from clients to kickstart engagements effectively. Automating the intake form process through Copilot’s forms app can streamline data collection, eliminate manual entry, improve accuracy, and enhance the overall client onboarding experience. Here’s how you can leverage automation to automate client intake forms.

    Customizable Intake Form Templates

    Copilot’s forms app allows you to create customizable intake form templates tailored to your firm’s specific needs. You can design forms that capture essential client information, such as contact details, business specifics, and engagement requirements.

    Online Form Submissions

    With Copilot’s client portal, clients can easily access and complete intake forms online when they create their accounts. This eliminates the need for physical paperwork or manual data entry. Clients can conveniently submit their information via our desktop or mobile interface, providing a smooth and streamlined onboarding experience.

    Export Forms and Form Response Data

    In addition to streamlining data collection and automating client intake forms, Copilot’s forms app offers the ability to export forms and form response data in CSV format. This feature enables you to conveniently use the collected data externally or integrate it with other systems like your email marketing platform.

    Use Copilot to Automate Your Accounting Firm

    Copilot Automations

    Copilot's accounting client portal provides an all-in-one solution for automating various aspects of your accounting firm’s operations. By leveraging its powerful features such as the client portal, secure file sharing, task management, project tracking, client intake automation, and billing capabilities, you can transform your service business into an efficient and client-centric operation.

    With Copilot, you can eliminate manual and repetitive accounting tasks, optimize workflows, enhance collaboration, and deliver exceptional client service. Embracing the power of accounting firm automation through Copilot will empower your accounting firm to operate at peak efficiency, allowing you to focus on what matters most: providing valuable service, building client relationships, and making every dollar count. To learn more and get started, start a free trial of Copilot today.

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