Make every minute work - how accountants can boost productivity through technology

Accountancy is about delivering a highly skilled service and providing clients with access to expertise. But time-consuming administrative processes can take people away from complex – and billable – work. 

The solution is to put more reliance on technology and within accountancy, a revolution is occurring.  

Ideagen, for example, has seen a rising number of accountants join its client base.  

They are integrating technology into existing workflows and switching to the benefits of cloud-based software. This provides better scalability and security, removing the need to store data in-house. The cloud also allows automatic updates and maintenance, suiting accountants with limited in-house IT resources. Even so, there remains a perception that accountants are behind the curve when it comes to technology implementation. 

Lucy Prior, sales director for Ideagen Mail Manager, believes this is an outdated misconception. She comments: “Working with accountants has really gathered pace in recent years. This is a sector that can experience measurable advances fast through our core software products, Ideagen Mail Manager and Ideagen Huddle. 

“From my experience, there’s a lot of awareness about digitisation and automation. Additionally, there is the compliance aspect – software solutions can provide audit trails to ensure data integrity and meet regulatory requirements, such as for GDPR.” 

Accountants have largely embraced hybrid working, but there is no place for a company or home office strewn with paper. Likewise, it makes no sense for skilled people to be spending their time on tasks such as data entry or manual invoice processing.  

Prior says while platforms such as Xero and Quickbooks have improved efficiency, there is now the option to significantly transform working practices across the board. 

So, what should an accountant do if they want to increase productive working hours, without going through vast upheaval or making a high investment? If saving time as well as improving compliance is the objective, then the obvious place to start is with email. 

This is the primary method of business communication but all too often, hours are wasted searching for information and with shared access, there can also be compliance risks.  

Given accountants tend to retain many tens of thousands of emails, insufficient storage capacity is a further issue. 

The solution is Ideagen Mail Manager and accountants are a perfect fit for this software, since it allows for proper filing, tagging and archiving of business emails, which can then be easily retrieved when necessary. 

As an Outlook plug-in, everyone will be familiar with the interface, but it puts an end to what can all too often be inefficient – and at times chaotic – ways of working. The business will almost instantaneously benefit from rapid retrieval, a reduction in errors and enhanced colleague collaboration. 

Ideagen Mail Manager is a centralised system meaning better controls – proper and visible tracking shows the communication history which works for management, team members and clients.  

The software is implemented via a step-by-step process and after being set up and integrated with email servers – either in the cloud or within the business – training is undertaken. 

“We provide this online, and the vast majority will be up and running in a few hours, using the system with confidence and seeing benefits first-hand.” 

Prior adds: “It makes sense to appoint a ‘champion’ within the business, who will typically be comfortable with technology and can take some more advanced training, to help new starters or provide extra training if needed – Ideagen Mail Manager also provides ongoing support.” 

A formal review, which could be conducted after a few months, will show the value the software is bringing to the business. “As an example, an accountancy business could save up to five hours per week on email-related admin, so the software pays for itself.,” she says. 

One example of an accountancy firm using Ideagen Mail Manager is BarTax, which specialises in barristers’ tax. Reducing the amount of unproductive work was a driving force for installing the software. 

The net result was a saving of 10-20% in staff time and this came largely from being able to deal with queries and provide information when on a call, rather than having to search for information and then call the client back. More time focused on clients and less on admin was achieved solely through being far smarter in email usage. 

Another product increasingly found in accountancy businesses is Ideagen Huddle. This is a cloud-based platform for document management, which is well-suited to regulated sectors such as accountancy. It allows colleagues working on key projects, such as bids and proposals, to review work and share information securely. It also tracks activity, so managers know who is working on what, with access being controlled as necessary. 

The software creates value, allowing people to work together with clients, safe in the knowledge that data will not be seen by outsiders. Again, a trial can be the easiest way to see how the software operates in a real-life business environment. 

As Prior concludes: “From talking to accountants, it’s clear that providing more hours in the working day is invaluable. They are undoubtedly recognising how technology allows them to remain competitive and they are more than ready for it.” 

For more information about how Ideagen Mail Manager can help you, download a free trial today: www.mailmanager.com/free-trial