As former tax experts ourselves, we know that there is undeniable value in the services that accountants offer. We also know they are often hindered from offering the most possible value to their clients due to outdated processes and softwares.
Currently, they have to hop from file-sharing sites, to email threads, to physical papers just to figure out what info they have from clients and what they still need. Another chunk of their time is spent manually entering data into legacy, Windows-based tax applications. To make matters worse, the Windows-based nature of these applications means accountants must be in-office (even during a pandemic!) just to use them.
Our goal to is to automate most of the grunt work involved in running an accounting firm. We’ve spent years developing a tool that makes accountants lives much easier, with a few key elements:
- Modernized information and document collection. Currently, client intake entails sending them a super long, super generic PDF with hundreds of financial and personal questions... and then sending a gazillion follow up emails to ensure they actually complete it. Through Soraban, you can send clients custom questionnaires with only questions relevant to them – which they can complete on their computer or mobile device. We’ll automatically create new forms with questions they skipped and auto-remind them to complete questionnaires by specified due dates. Plus, you can track their progress through your own Soraban account.
- Cloud hosting. Moving workflows onto the cloud (ie. web) has several benefits: teams are able to work from anywhere, data can be backed up to the cloud versus locally, and there are clear audit trails that can easily be converted to reports to check for suspicious activity. Check out our full cloud v. Windows-based analysis here.
- Automated data entry. Most firms still manually input numbers into their tax software; this is tedious and prone to human error. We’ve devised a way to integrate with the legacy Windows-based applications that uses bot automation. Our AI reads, recognizes, and extracts the form data. After we validate the extracted data, the bot will connect to the firm's accounting software and perform data entry, saving the firm time and money.
- Improved internal & external communication. Our conversation feature simplifies communication between accountants and their clients while also facilitating internal collaboration and information-sharing. Sharing client info and files across accountants and teams is often a huge hurdle in firms it was critical for us to incorporate a tool to address this pain point.