Wolters Kluwer (APAC) Propel your practice

Propel your practice forward with smarter cloud practice management

Firms with an integrated cloud practice management solution are proven to be more efficient, increase billable hours and be more likely to attract and retain talent, while also being able to collaborate closely with their clients.

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Rakesh Naidu, Head of Product for Professional Software, Wolters Kluwer Tax & Accounting AsiaPacific

A product professional passionate about designing solutions that solve customer problems and make it easier for customers to achieve their desired outcomes.

Experience in new product development and delivery, online and payment platform development, business case development and driving business efficiencies & continuous process improvement.

The services that

Accounting Firms offer are mostly process-heavy, people intensive, and dataladen with exacting standards, and often changing tax changes. And for every job, the accounting professional must be 100% accurate.

When internal procedures are not streamlined, firms are burdened with additional non-billable work. Add in the challenges of remote working, legacy systems, and unforeseen change – this can result in a significant decrease in each fee-earning employee’s potential billable hours. Client and staff turnover are also put at risk.

Every forward-looking Practice Owner or Partner benefits from a single source of truth for resource allocation, jobs, time, billing, and communications. For firms, the right practice management solution helps everyone work smarter, communicate better, and boosts the firm’s bottom line.

“Choosing the right practice management solution is critical to increasing productivity and gaining a competitive edge,” says Rakesh Naidu, Head of Product for Professional Software at Wolters Kluwer Tax & Accounting Asia Pacific. “With firms dealing with hundreds, even thousands of tasks across the business, a practice management system keeps everything organised and everyone on the same page.”

information. It acts as a hub around which a firm can organise and integrate essential workflows efficiently while maintaining “Choosing the right transparency and practice management accountability. solution is critical to increasing Automation productivity and gaining a competitive Through practice edge.” management automation you save time, be more accurate Connect and collaborate and reduce stress. Some of the benefits to partners and firms are: In recent years practice • Increasing billable hours by management software has managing capacity, jobs, and adapted rapidly in response to workflows the growing focus on the digital • Capturing the time spent on transformation of businesses every job worldwide. The pandemic • Streamlined client billing and lockdowns, and remote working, managing debtors are accelerating its benefit • Storing up-to-date details of globally. “Firms need to be nimble clients and have the ability to connect • Intelligent and customisable and collaborate seamlessly with reporting of firm metrics clients online,” says Rakesh Naidu. With a cloud-based practice management solution, everyone with permission to access the platform can do so at any time, from anywhere, providing a single source of truth and a central repository of mission-critical Practice owners can also create reports on cash flow, revenue, profitability, individual employee productivity, billing, receivables, and more. For Partners and Practice Managers, an integrated solution delivers on core objectives:

• Cost control — removing • Automatic back-ups- physical costs to increase margins and barriers profitability • Complex identity verification • Productivity — Increases steps. billable hours by streamlining processes Modern accounting firms need • Automation — Automate vendors that have their backs transactional and repetitive when it comes to cybersecurity tasks, a must to stay and risk and incident reporting. competitive As a global • Client satisfaction company — If clients are “With firms dealing working across happy, they’ll with hundreds, even more than 50 stay loyal. thousands of tasks countries in across the business, a critical areas of Flexibility and practice management the economy, convenience system keeps everything security is a organised and everyone core concern for More advanced on the same page.” Wolters Kluwer. and dedicated platforms, such We pride ourselves on as CCH iFirm Practice seamless implementation and Manager, enable better use of configuration. When you buy CCH intelligent automation. Users iFirm Practice Manager, we’ll help can automatically allocate jobs configure the platform to your evenly across team members, needs highlighting potential problems before they become an issue, and Another advantage is that a cloudmaking life easier for everyone. based platform automatically updates with new features and Managers can assign jobs and versions, saving time and money. tasks and view the progress, optimising team utilisation is Working with experienced critical to reducing non-billable solution providers whose core hours. The system anticipates business is partnered with globalall the administrative tasks level capabilities to address associated with regular jobs and security, as well as deliver training allocates resources to ensure and up-to-date content, ensures work is not forgotten. Integration your firm is set up for success. of all l core jobs and tasks allows a practice manager to seamlessly New markets send an invoice. CCH iFirm also offers you a menu of tools to travel from whatever screen you’re working on to other workspaces within the platform. It allows you to use existing workpapers and procedures or add your own to any job.

Security and service

Any software dealing with sensitive financial data has to be secure. To enable your firm to work confidently with clients, online CCH iFirm safely shares documents, data, and reports, including: • Multi-factor authentication • Digital signatures • Collaboration portals One of the key considerations for a high-growth professional services firm these days is breaking out of conventional, geographically defined markets.

For accountants to reach new markets, they need technology, automated workflows, secure data, and a way to share information with staff and clients. That means a cloud-based platform that allows seamless collaboration virtually from anywhere at any time.

The firms of the future are also tapping into a global workforce because work can be completed remotely and delivered entirely online. Integrating all, or as much as possible, of the software in your business around one platform and a standardised series of processes, puts your firm on the best footing for growth

Your team has more time to focus on higher-value work, such as business advisory or other specialist opportunities. The instant access to accurate data and reporting that CCH iFirm Practice Manager enables makes for faster, better decision-making.

Deep impact when it matters

Our vision is to provide tax and accounting professionals with the best information and software they need to get their work done and make a deep impact.

Getting things right is critical. In an ever-changing world, it’s vital to have access to the best expert solutions to organise and automate complex processes. Customers depend on software to seamlessly integrate data and deliver important and rapid insights into their business and the wider world.

Every day, we seek to better understand our customers’ challenges using the deep domain knowledge we’ve acquired over 40 years of experience.

The true value of practice management software is its ability to help you grow, control costs, save time, increase billable hours — and know exactly where everything is at all times.

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