Why software overload is holding back accountancy practices 

We use more software solutions than ever in our daily lives, from streaming services and phone apps to software-powered fridges.  

It's the same when it comes to accountancy solutions. 

So why does your day job feel more difficult? 

It can be down to the “clutter"  this software creates. 

It’s a massive pitfall for those just setting up their practice, and it’s an ongoing issue for those already established. 

Let’s take a look at a software overload scenario

You get up. You have a nasty cold, but you must go to the office because some of your crucial software is on the desktop. 

Eventually, you drag yourself into the office (a few paracetamols and a stuffy train ride later).  

It's time to crack open the spreadsheet. Not for doing any math, but because that’s how you track jobs across your business. You note that several reminders must be sent out, and a tax return must be finished as soon as possible. 

As you move ahead with the tax return, your email pings.  

Good news – a prospect has finally accepted your proposal to look after their accounts. You’re glad, but because nothing was standardised, you have to trawl through scraps of email correspondence to double-check everything. Then, you will have to dig out a Word document to give you a rough first draft of an engagement letter and work from there.  

You also have to run a money laundering check on this new prospect. You better get the process started before you forget. You minimise the window in which you were finishing the tax return and log into your new AML software.  

What was the password? A couple of goes, and you get in… and then try to remember how to start the process. The reason for this pause? You only just signed up for this software, which feels different from everything else you use.  

When that’s done, you return to the tax return software and realise it has signed you out.  

Wait! Before you can get on with that tax return, you have to put your new client on the jobs spreadsheet and write out the tasks you’ll need to do for them. 

All that, and you haven’t even had your first coffee.  

Imagine how the rest of the day goes. 

Your app issue, in a nutshell 

Chances are, you have a scattered selection of apps, or if you’re starting, there’s a high likelihood that’s what you’ll end up with soon. 

What problems does that cause? 

None of the apps communicate  

When you’re encouraged to subscribe to apps from different vendors, you’ll eventually add one that doesn’t share data with your other solutions. When that happens, you end up retyping data. This increases the chance of errors and wasting time.   

From there, things get worse. How do you track jobs if data isn’t sent back to a single client list? How do you stay secure when you are constantly creating (and trying to remember) more and more login details?  

Money down the drain 

The cost adds up when selecting niche apps that do one or two jobs. You may feel you’re overspending or paying for features you won’t use.  

That happens easily. Maybe you tried the software and got tied into its ecosystem. Perhaps a solution seemed like a good idea in those first years, but you soon outgrew it.  

Either way, you will probably feel seasick after being hit by wave after wave of price hikes –  as each vendor reassesses its corner of the market and bumps prices accordingly. 

Surplus features 

Sometimes, the software doesn’t feel suitable for your firm. Software users don’t always hit the sweet spot for a niche app's target market.  

Some solutions are made for small businesses, some for medium businesses, and some for large businesses. But vendors might not say that because they don’t want to turn customers away. 

As part of their generalised approach, they often assume that small accountancy practices have less complex clients and big firms have the trickiest. But that's quite a leap – small practices sometimes deal with complex tasks, and large firms often need solutions for ploughing through simple stuff. 

Constant (needless) learning 

It has probably been a while since you trained to be an accountant, so why does your software make you feel like a trainee?  

The main reason is that each niche application has its rules and design philosophy. One vendor’s way of preparing accounts will not follow another software engineer’s preference for how this might happen. That’s before you get to more personal preferences like user interfaces, which vary vendor by vendor. 

The fix for all this 

It’s fair to think this is how modern accountancy is: a jumble of uncooperative software and solutions.  

But it doesn’t have to be. 

Done right, your software choices can give you: 

• A simpler working life 

• The ability to track all your jobs in one place 

• The power to pay only for what you use 

• The luxury of dealing with only one supplier 

Why it’s so hard to figure this out alone

Making software decisions takes time and research, regardless of whether you’re setting up a new business or revising your options. 

It’s fraught with issues. For instance, new cloud technology, like IRIS Elements, is excellent, but will it do the trickiest accounting jobs, or should it integrate with something else? Remember what we said earlier: small practices don’t only have simple clients, and even if your business is any bigger, then your needs will vary. 

So, how do you figure all this out? You need expert help. 

Practice in a Box 

Did you know great things come in packages? They do with Practice in a Box. 

With Practice in a Box, you get everything in one place and enjoy fully synced data.  

Think of it as the complete toolkit an accountancy or bookkeeping firm needs to thrive. Get integrated modules for tax, accounts, AML, practice management, and more – plus add-ons like bookkeeping tools, outsourcing services and the opportunity to create your own digital shopfront. 

Practice in a Box simplifies a practice’s entire workflow. No more juggling multiple systems or worrying about compliance.

So, that software overload? It’s gone the minute you open the box. 

Special offer 

For a limited time only, we’re offering an exclusive 50% discount on select professional-level products if you purchase Practice in a Box before 31 October 2024.  

Click here to find out more.