New technology feature
New Kids on the Block
We have seen huge advances in technology over the last decade and this has revolutionised not only the accountancy profession but also the way in which we conduct our everyday lives. This is exciting in itself but what is even more exciting is the fact that this technology is still developing! New products are being invented, new concepts tested and new ideas researched all over the world everyday.
In each edition of the Digital Accountancy Magazine, we are going to focus on some of these new companies and let you know about some of these new and exciting products and services that have been developed.
In this edition, we have spoken to four companies with some exciting new products which all have huge potential in the accountancy world. These are:
You may not have heard of all or any of these companies until now but it is highly anticipated that they will all become common names within our industry over the next 12 to 24 months.
XINOWA- Xero Information on Whatsapp- Get information from Xero in less than 10 seconds.. faster than Xero
Do you remember the desktop? With everything on your hard drive? Then along came the cloud and many people could access and work on the same information simultaneously, though you still needed a computer. Soon, along came IOS and Android, and now – Whatsapp for your accounting information! Corient Business Solutions has developed Xinowa - Xero (X) Information(IN) on (O) Whatsapp (WA), with a two-fold aim: Business Owners get financial information easily Increase time available to Accountants to focus on high value advisory services by reducing their involvement in managing non-value added queries. If you use Whatsapp (or any similar messaging service), you already know how to use this software. Just connect Xero with your Whatsapp number (in a few easy steps) and you are set. Business Owners – easily extract the numbers you want without logging into Xero - type in the request on Whatsapp, send, and receive the information as
Whatsapp message in less than 10 seconds. For example, “ Debtors” will get you the aged receivables report; “Balance Sheet” will get the Balance Sheet. Over 30 queries are already configured on the current application with more on the way. You can also set up the application to receive push notifications at any desired interval (day/ week/ month) on Whatsapp. View the Aged Receivables, Bank Balance, Aged Payables, Balance Sheet, Profit and Loss Statement and other reports on Whatsapp without needing to ask for them once this feature is enabled. Accountants - you can onboard your clients with Xinowa - business owners quickly and easily receive important numbers needed to aid fast decision-making direct from Xero. Whatsapp is all that is needed to eliminate several queries and free up your time. “Really handy to be able to quickly bring up your turnover & profit figures from Xero and list of people who owe you money, super-fast and without having to log in to Xero, just by sending a really short WhatsApp message. It retrieved the correct info and super-fast even when I made a spelling error. Great little product”- Emily Inman- Zynct Accountant.
Claimer - the new R&D cloud platform for accountants
R&D tax relief claims are some of the most valuable services accountants can provide to their clients. However many accoutants miss out by either referring clients to expensive specialists or not having the expertise in house to make the most of an R&D claim. The team at Claimer wants to change this. We’re building a cloud platform that empowers accountants to make R&D claims quickly and efficiently. Using our technology, we believe Claimer could do for R&D tax credits what Xero has done for bookkeeping. In April 2019, we launched the first version of our platform at www.claimer.io. This version enables clients to build R&D claims easily, with Xero integration to import relevant R&D costs. Claimer’s own tax specialists check every claim before submitting them to HMRC, and our fee is 5% of the saving, capped to a maximum £10k.
Our team is now hard at work developing a revolutionary new R&D relief platform optimised for accountants, with features to process and manage multiple clients and claims. Over time we will increase the level of automation, allowing accountants to focus on advice rather than data processing. Accountants using Claimer will also have access to support from our team of in-house tax and technical experts. We’re aiming for a release in Summer 2020, but in the meantime we are looking for feedback from accountants on what you would like to see in the platform. If you’re interested in finding out more, please provide us with your email address here The team will also be at the Digital Accountancy Show, so please come and say hello!
Paycircle - A collaborative, cloud-based payroll platform
Let’s not beat around the bush: for some in the accountancy world, payroll is the ugly duckling, the black sheep. It doesn’t generate the margin that other areas of your business do and yet it’s time-intensive. In many cases you offer it because, well, you’re an accountancy firm and you have to. It’s a bit of a bolt-on. But that’s all changing. Cloud technology has transformed payroll from an afterthought to one of the most important services an accountancy firm can offer. Why? Because as a service that’s ongoing rather than one-off, it has the potential to enhance and deepen relationships with your clients in a way few of your other services do. Through a fully customisable cloud-based payroll portal, Paycircle enables accountants to communicate with their clients in real-time and in a way never before possible. It’s goodbye to disconnected legacy technologies that struggle to cope with the complexity of modern payroll and hello to effortless collaboration and workflow.
Most small business owners spend an unnecessary amount of time and energy making tedious individual payments to a variety of parties (employees, suppliers, HMRC, and so on), so it goes without saying that they’d rather deploy these resources elsewhere. One way this can be achieved is by outsourcing these administrative tasks to their accountants, while remaining in control of the funds leaving their bank account, and this presents a huge opportunity for accounting practices willing to offer such a service.
It’s no surprise some of the Top 20 accountancy practices in the UK are ditching the old ways — think password-protected spreadsheets and endless phone calls and emails — and turning to Paycircle for their payroll. With Paycircle, your payroll staff and the relevant individuals at your clients have access to their own online portal, accessible anytime from anywhere, with all the permissions and levels of access that are appropriate to their role and position. In real-time, clients can leave notes and start conversations, upload files and give your staff the green light to run payroll. Equally, your payroll team can ask questions, qualify instructions, assign tasks, ensure all deadlines are being met and let clients know when draft calculations and reports are available to review and approve. In all cases, alerts are triggered and nothing is missed. Paycircle has been built with institutional-grade cloud security, meaning your and your clients’ data is secure from the get-go. It saves accountancy practices time, money and above all — through its effortless, collaborative workflow process — their sanity. And as an always-on service, Paycircle bring your clients ever closer — just where you want them to be.
Small accounting & bookkeeping teams are switching to Pixie!
Pixie is the new kid on the block. It’s a cloud-based practice management and CRM app for small accounting & bookkeeping teams that want to save time and get organised, without spending hours setting things up. In just a few clicks, you'll gain complete control with our easy to use CRM, email automation, customisable workflows, two-way email synchronisation and much more! Pixie saves you time from the start so you can focus on delivering a great service to your clients. Our features include:
- Automatic 2-way email sync that logs all client emails to the correct records, jobs and tasks
- Simple task management, task delegation and deadline tracking so you have full visibility over who is working on what and when it’s due
- Email prioritisation that puts all of your client emails into a priority inbox for you to respond to (without losing them in between all the other emails!)
- Built-in client portal where they can securely access their documents from the emails you send them (without having to log in into a separate portal!)
- Customisable recurring workflows for those repetitive tasks so your team knows exactly what to do next and never miss a step
- A single source of data with email history, internal notes, files and jobs in one place
- Automated and personalised email reminders to clients to let them know when jobs have started and finished, and when you need missing info
- Full Zapier integration with over 1000 other apps including Xero, Quickbooks, Practice Ignition, Mailchimp, Google sheets, Typeform and much more
We pride ourselves on simple, straightforward pricing that you can afford. Pixie costs just £49 per month for the whole team - unlimited clients and unlimited users.