Durham, NC, March 19, 2015 --(PR.com
)-- When small business accountant Jody Seibert first started her consulting firm Fix Your Accounting in early 2010, she went paperless from the start by manually scanning all of her clients’ receipts. Seibert knew that her business would generate a lot of clutter, and implementing a no paper policy would make her more organized and productive. Business was booming, but so was paperwork, and Seibert could not keep up with the demand of her clients’ accounting needs. The manual scanning method was quickly becoming antiquated and far too time-consuming.
“About a year in, I noticed that the amount of business records I had was getting overwhelming, and papers were taking over my desk. As my business grew, I fell behind and realized I needed another solution,” says Seibert. To cut down the time she was spending scanning and filing her clients’ documents, Seibert turned to Shoeboxed, a receipt scanning and organization service.
“Outsourcing the bookkeeping functionality of my business helps automate necessary workflows,” she adds. By setting up a system with a cloud-based document management tool, Seibert is able to save hours a week organizing receipts and expense reports for herself and for her clients. “It gives me the peace of mind that I don't have piles of receipts lying around demanding that I do something with them, like scan or file. The high quality scans allow me to find any document quickly without wasting time rifling through piles of paper.”
Tools that can do more work with less time and effort allow busy accountants like Seibert to handle more clients at once, which means better business. According to NASB’s Small Business Taxation Survey, 38 percent of small businesses reported they spent more than 80 hours a year dealing with federal taxes—two whole work weeks. That same survey found that almost 50 percent of small businesses spend $5,000 or more annually on the accounting process alone, before paying their taxes. Bookkeeping is an inevitable strain on accountants’ time and resources, especially if they aren’t using tools that support high-volume data in an efficient, effective manner.
“In any small business, the administrative side tends to get ignored until tax time, and then people find themselves sorting through piles of paper for hours looking for specific documents,” says Seibert. “You need to look at how much time is lost scanning versus automatic cloud storage,” adding that cloud services enable accountants to be more productive with their time.
Together with proactive tax planning, technology can simplify the accounting process for small businesses and consumers alike. Shoeboxed sees these challenges as an opportunity to help an industry in need of streamlined, more productive workflows. A recent study by The Sleeter Group reports that tax filers want their accountants to be proactive, not just responsive. This style of accounting can be achieved through a higher level of engagement with the client and the use of collaborative tools that allow both the accountant and the client to manage documents.
“These days, a lot of small business clients want more than a number cruncher,” says Seibert. “Companies want a business advisor to provide them with full-scale solutions for document and information management, and accountants are struggling to keep up.”
Cloud solutions like Shoeboxed allow accountants to offer their clients comprehensive bookkeeping services coupled with innovative technologies, including:
1. Online tools that offer transparency and accessibility for all parties
-Multiple users for collaborative document management and reporting
-Increased engagement between client and accountant
2. Secure cloud-based document storage
-Allows more traditional firms and accountants to compete with virtual bookkeeping services
-Continually updated data for reliable records
3. Innovative technology that maximizes productivity and efficiency
-Rapid, automatic retrieval of documents
-OCR data extraction for simplified organization of financial records
-Integration with existing tools and services for easy workflows
In order to keep up with an increasingly digital world, the accounting industry is being challenged to innovate like never before. The impact of technology, especially cloud computing, is set to have a tremendous effect on business processes. Shoeboxed aims to reduce the time and resources accountants spend on dealing with paperwork and is committed to staying at the forefront of innovative online bookkeeping solutions.
Since 2007, Shoeboxed has been the preferred small business expense tracking solution for over one million users worldwide. The pioneers of cloud based receipt scanning, Shoeboxed saves people time, money and hassle by turning receipts into an organized, categorized, IRS-accepted archive of secure data.
Shoeboxed offers a fully functional free plan, as well as premium plans that include a prepaid mail in service for physical receipts. Shoeboxed is based in Durham, North Carolina, and has growing offices in both San Francisco, California, and Sydney, Australia.
For more information, contact Claudia Amand at firstname.lastname@example.org or 919-457-7611.